A $300 million loan facility will be available to small and medium enterprises, Finance Minister Colm Imbert announced on Saturday morning.
It will be interest-free for the first two years, which will be covered by the Government. The facility becomes available next week at state-owned banks, Republic and First Citizens banks.
An additional $100 million loan grant will be provided to credit unions to help provide relief to their clients, Imbert also said.
These measures are part of relief measures for the economic impact of covid19.