Central Bank increases funding for businesses affected by COVID-19

Jun 16, 2020 (LBO) – Central Bank has decided to provide funding to Licensed Commercial Banks (LCBs) at the concessionary rate of 1.00 percent against the pledge of a broad spectrum of collateral, on the condition that LCBs, in turn, will on-lend to domestic businesses at 4.00 percent.

According to the Central Bank, this is in addition to the already disbursed Rs. 27.5 billion under the refinance scheme introduced on 27 March 2020.

This new scheme along with the existing refinance Scheme will provide Rs. 150 billion in total to the businesses affected by the COVID-19 pandemic.