BoZ gives out K9bn



OVER 62,400 individuals and business houses have benefited from the K9.23 billion disbursed by the Bank of Zambia (BoZ) as at December 31 last year under the K10 billion stimulus package. In April last year, the central bank announced a K10 billion targeted medium-term refinancing facility to assist with liquidity to organisations and individuals to cushion the adverse impact of coronavirus on their businesses. According to an update from the central bank yesterday, as at December 31, 2021, BoZ had received 59 applications, of which 24 were from commercial banks and 35 from non-banking financial institutions. “The total value of the applications received thus far stand at over K12 billion. Of the 59 applications, 40 have been approved, representing 81.3 percent of the value applied for,” the report reads in part. The report further states that of the approved advances,10 are from commercial banks valued at K7.14 billion and 11 worth over K2 billion are from non-banking financial institutions. This brings the cumulative total to K9.23 billion, representing 94.2 percent of the K10 billion total stimulus package. The total funds disbursed have benefited 62,431 clients, with 7,112 coming from commercial banks and 31,987 from non-banking financial institutions. The sectors that CLICK TO READ MORE

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