MSMEs to benefit from multi-million dollar loan

More micro, small and medium-sized enterprises are expected to benefit from the third loan agreement for the Enhanced Credit Guarantee Fund. Barbados is currently negotiating with the Inter-American Development Bank for the new US $50 million loan. Central Bank Governor Dr. Kevin Greenidge says the Bank is actively involved, helping the Government to discuss the third round of funding. He was speaking during a roundtable discussion on the impact of the Fund, held at the Central Bank. President of the IDB Ilan Goldfajn says micro, small and medium-sized businesses need financing assistance because of their size. He adds that the IDB's support for the island is multi-faceted. The first loan was undertaken in 2015 in the amount of US $35 million, and the second tranche was done during the COVID-19 pandemic for US $30 million. Both loans have been fully disbursed. Subscribe to CBC Barbados https://www.youtube.com/@cbcbarbados246 Connect with the CBC Barbados Website: https://www.cbc.bb/ Facebook: https://www.facebook.com/CBCBARBADOS/ Instagram: https://www.instagram.com/cbcbarbados246 X: https://twitter.com/CBCBARBADOS #CBCTV8 #CBCNews #ConnectingBarbadianCommunities