SDFC Lowers Interest Rates on SME Loans

SME Development Finance Corporation has announced that they have decided to extend the loan and interest repayment on SME loans for 6 months.

They have stated that this decision was taken after taking account of the toll COVID-19 has caused to the economy of the Maldives, thus to help SMEs repay the loan in this difficult time.

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They further added that they have also reduced the interest rate to 4% for the 6 month period.

Economic Minister Fayyaz has also stated that they are planning to reduce the interest rates and to ease the loan repayment conditions amid the spread of COVID-19 pandemic in the Maldives.

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