, First tranche of TEF/ExIM Bank tourism loan disbursed, WorldNews | Travel Wire News

First tranche of TEF/ExIM Bank tourism loan disbursed

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.

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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.