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.