The Central Bank of Nigeria has said that
households and businesses affected by the COVID-19 can now apply for loans
under its N50bn Targeted Credit Facility.
It said the stimulus package was to support
households and Micro, Small and Medium Enterprises affected by the COVID-19
pandemic, adding that beneficiaries could access up to N25m.
On the concept of the TCF, the bank
explained that the COVID-19 pandemic had led to unprecedented disruptions to
global supply chains, sharp drop in global crude oil prices, turmoil in global
stock and financial markets, among others.
It said these outcomes had had severe
consequences on households’ livelihoods and business activities, resulting from
drop in global demand, declined consumer confidence and slowdown in production.
No comments:
Post a Comment