MoPF disburses K400 bln for over 2,100 MSME entrepreneurs

The Ministry of Planning and Finance has offered K400 billion in loans to more than 2,100 entrepreneurs of Micro, Small and Medium Enterprises, according to its statistics.
This loan scheme has been initiated since 2016 and offered as of end-March 2023 for SME development and financing for business expansion.
An individual entrepreneur is entitled to take out a K500 million instalment loan.
Phase I was carried out with an initial loan of K57.63 billion. A total of 553 SME entrepreneurs took out K124.78 billion in loans as of March 2023.
The phase II project was conducted in September 2018. As of March 2023, 1,595 SMEs were financed K275 billion through 11 banks.
To develop the Micro Enterprises (MEs) and Small and Medium Enterprises (SMEs), the department concerned has been financing them. – TWA/EM

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