Micro (small and medium) scale businesses will soon enjoy a GH₵600 million soft loan to cushion them in order to mitigate the impact of Coronavirus.
President Akufo-Addo made this known on Sunday in his ninth address to Ghanaians on the fight against the coronavirus pandemic.
He reiterate that Government is putting in place a Resilience and Recovery Plan, with the overarching aim of finding more resources to strengthen the productive sectors of the economy to ensure sustained economic activity.
“We are rolling out a soft loan scheme of six hundred million cedis (GH¢600 million) in this month of May, to support micro, small and medium scale businesses. As you know, the commercial banks, with the support of the Bank of Ghana, have also instituted a three billion cedi (GH¢3 billion) credit and stimulus package, to help revitalize industries, especially in the pharmaceutical, hospitality, services, and manufacturing sectors”, he said.
As we all know, economic activities have come to a standstill because of the pandemic. The outbreak of the virus hit many businesses hard; while experts paint a gloomy picture for the economy, hence the need for such assistance in order to boost the economy.
Most owners of small and medium-scale enterprises have complained bitterly of significant loses as a result of the deadly virus.
Source: Mybrytfmonline/Evans Boateng
