K10 billion stimulus uptake slow

DENNY Kalyalya.

THE Bank of Zambia (BoZ) has approved K1.2 billion out of the K3 billion worth of applications mainly from commercial banks seeking a share from the K10 billion stimulus package. Last month, the central bank set up the K10 billion Medium Term Financing facility to help businesses remain afloat amidst the COVID-19 negative impact.
BoZ Governor Denny Kalyalya says despite the K1.2 billion being approved, the central bank has not yet disbursed the money because it has to ensure that borrowers meet certain benchmarks, especially that the package is aimed at boosting economic growth in the midst of coronavirus.
Dr Kalyalya was speaking when he featured on Zambia National Broadcasting Corporation’s Sunday Interview programme.
“We have applications of up to K3 billion, mostly from commercial banks. We have approved about K1.2 billion but we have not CLICK TO READ MORE

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