Government has approved a new line of credit facility at the AID Bank. Musicians now have access to credit facility which will be offered at 2% interest rate with a grace period of one year.
The Hon Prime Minister, Dr. Roosevelt Skerrit, announced this at AID Bank’s Annual General Meeting on Wednesday, 8th February.
“The government is playing its part; it’s clear for all to see, it is left to the clients of the bank and the bank to ensure the survival of the bank,” Prime Minister Skerrit said.
The Hon Prime Minister stated that this new facility is in addition to the 3% credit facility available to hoteliers and farmers.
He informed that overtime Government has been able to facilitate lower interest rates at the bank from 11% to 6%. Government has also been able to provide the AID bank with direct financing.
The nation’s leader pledged Government’s commitment to the sustainability of the AID bank.
He told the board of the AID bank that it has his full support in ensuring continued access to financing.
The nation’s urged citizens to take advantage of these special government facilities made available through the AID bank.
This new facility is funded under the Citizenship by Investment Programme.