NDB yet to receive money planned for small businesses

THE National Development Bank (NDB) says it is yet to receive the Government’s proposed K200 million that was earmarked for the support and growth of small and medium enterprises in the country.
Managing director Moses Liu said in a statement that this to clarify public perceptions that the funding had been allocated to the bank. Liu said once the funds become available, the bank will advise the public through different media platforms.
“Currently, NDB has not received the much talked about K200 million from the Government,” he said.
“Once it is fully received, NDB will announce the products, interest rate and terms and conditions on how the funds will be lent out.”
During the 2020 National Budget presentation last November, Liu described the 2020 money plan as ‘positive’. He said then that the K200 million allocated in the budget would be under NDB so that small-medium enterprises could access it as soft loans.
“There’s actually two parts to it,” he said.
“Firstly, the actual funding aspects of it. The K200 million, in fact that will provide concessional, accessible funding to our people throughout the country.
“We at NDB were prepared for that.
“We anticipated this sort of allocation to come through because the prime minister has been talking about it and was also talking to us about it.”
We have two new products that we will be launching early next year (this year). Once the money comes through then we will announce that,” he said.