The first tranche of the TEF/ExIM Bank small and medium size loan facility which was launched last year has been fully disbursed.
The loan facility provides financing to small and medium sized tourism enterprises.
TravelWireNews Chatroom for Readers (join us)
Approximately $311 million was borrowed at five per cent interest rate with a five year term.
On Wednesday, the Tourism Minister presented the EXIM Bank with the second tranche of $350 million to facilitate phase two of the programme.