Regulatory Alerts2020-11-23
Added · Updated
SMEDP-2 Circular Letter No. 01: Reduction of Interest Rate under Second Small and Medium Sized Enterprise Development Project (SMEDP2)
The Second Small and Medium Sized Enterprise Development Project (SMEDP-2) reduces the interest rate for participating banks and financial institutions to 2% and caps the customer rate at 6% for working capital and term loans under the Revolving Fund. This revised interest rate structure applies to all loans under the fund effective from 18 November 2020 to support Micro, Small, and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic. All other existing guidelines regarding the fund remain unchanged.
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