DBM announces new schemes

A series of schemes to ease and increase financial access of Small and Medium Enterprises (SMEs) is to be provided by the Development Bank of Mauritius Ltd (DBM) as announced in Budget 2017/2018.

These include: a Micro Credit Scheme with an interest rate of 3 % per year, up to a ceiling of Rs 250,000; an SME Financing scheme with an interest rate of 6 % per year up to a ceiling of Rs 3 M; loan to religious bodies with 0 % interest rate for a ceiling of Rs 500,000 and an interest rate of 3% for Rs 500,001 to Rs 1,000,000.

Other measures implemented by the DBM include: loans to assist planters whose crops are damaged by climatic conditions, pests and diseases; subsidy on the cost of purchase of CCTV cameras for planters; write off outstanding balances for hardship cases under the Pig Sector Restructuring and setting up of sea-based coral farms, aquarium market and high-end jewellery manufacturing.

 

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