More micro, small and medium-sized enterprises are expected to benefit from the third loan agreement for the Enhanced Credit Guarantee Fund.
Barbados is currently negotiating with the Inter-American Development Bank for the new US $50 million loan.
Central Bank Governor Dr. Kevin Greenidge says the Bank is actively involved, helping the Government to discuss the third round of funding.
He was speaking during a roundtable discussion on the impact of the Fund, held at the Central Bank.
President of the IDB Ilan Goldfajn says micro, small and medium-sized businesses need financing assistance because of their size.
He adds that the IDB’s support for the island is multi-faceted.
The first loan was undertaken in 2015 in the amount of US $35 million, and the second tranche was done during the COVID-19 pandemic for US $30 million.
Both loans have been fully disbursed.
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