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Exim Bank pours in 160bn/- in Covid-1 9 business recovery

Exim Bank pours in 160bn/- in Covid-1 9 business recovery

TO revive business and support the government fight Covid-19 in the country, Exim bank has announced 160bn/- expenditure to its clients in the Corporate, Small and Medium Enterprise businesses recover from the disease pangs.

Making the revelation in Dar es Salaam,the bank’s Chief Executive Officer, Jaffari Matundu said the money would assist the traders to recover in their incomes that somehow faced challenges in the wake of the disease.

He said the move is part of the bank’s financial initiatives to assist the business community especially during any harsh times in economy.

“As of June, the bank has provided relief of over 160 bn/- in form of payment holidays and extension of loan repayment periods to help our clients in various sectors sail through the impact of Covid–19 on their businesses.

“The bank understands the needs of our clients during these times and we are doing all that is possible to help them navigate through. We are doing this not only through loan restructures, but also through advisory services on business strategies to ensure that the respective businesses survive and in turn thrive again.

“The relief initiatives case by case basis provides that evidently, the effects of Covid-19 have not been the same across the board. Clients in severely impacted sectors have been proactively approached and assisted.

“Discussions with more are still ongoing especially exploring various measures that best suits the nature and type of business.

“At Exim Bank, we believe in working tirelessly today for a better tomorrow for our clients, their businesses and the community at large, is in that spirit that we have adopted such initiatives during this time of uncertainty.

“We remain committed in addressing these matters and find solutions alongside the Regulator and Government in ensuring that our economy continues to remain stable during these trying times,” said Mr Matundu .

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