Businesses use P250m of COVID-19 credit scheme

Friday, March 18, 2022 | 350 Views |

On the mend: Tourism enterprises were amongst the leading beneficiaries of the loan guarantee scheme PIC: THALEFANG CHARLES

Botswana Export Credit Insurance (BECI) has underwritten just P250 million in loans under the P1 billion credit guarantee scheme launched two years ago, as the government-backed arrangement comes to an end this month.

The scheme was launched as part of a range of government’s COVID-19 interventions aimed at helping businesses out of the pandemic.

The scheme aimed to encourage bank lending to qualifying businesses by offering a partial government guarantee of 80% to commercial banks and banks established by legislation. The banks would cover the remainder of 20% of the risk of the financial facility.

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