CB extends SME credit support scheme to NBFI borrowers

The Central Bank has extended its credit support scheme introduced in January for small and medium-sized enterprise (SME) borrowers of the banking sector to non-bank financial institution (NBFI) borrowers.

“With a view to accelerating economic growth in the country, a special credit support scheme to eligible Small and Medium Enterprise borrowers of the banking sector had been introduced. 

“Subsequently, considering the importance of extending the benefits of the borrowers of nonbank financial institutions sector, it was decided to introduce a similar scheme for NBFI,” the Central Bank yesterday said in a statement.  It also said all eligible borrowers shall make written requests to respective licensed finance companies (LFCs)/specialized leasing companies (SLCs) on or before March 31, 2020 to enjoy the benefits of the scheme. Terms and conditions of the credit support scheme are specified in the Central Bank Circular No.01 of 2020 – Credit Support to Accelerate Economic Growth.