NDB invites applications for P600m fund

The facility was commissioned by the Ministry of Investment, Trade and Industry as part of the Economic Recovery Transformation Plan (ERTP) last year. About P1.3 billion was made available to firms and individuals via developmental finance institutes including NDB, which has been allocated P600M to lend out into agriculture, tourism and general industry.

According to NDB chief executive officer Lorato Morapedi, the approved ERTP is aimed at addressing the short-term working capital requirements of businesses. “The key objectives are to stabilise businesses that have faced COVID-19 pandemic effects,” she said. The fund is open to citizen and non-citizen owned businesses including those which are not operating as companies and those which were already in operation for the year 2019-2020.