The Executive Director of the National Board for Small Scale Industries, NBSSI, Kosi Yankey, has explained that financial institutions will be used to disburse the 600 million cedis stimulus package allocated to support small and medium scale enterprises.
Following the negative impact of COVID-19 on businesses and individuals, the amount has been set aside by government to mitigate the impact on small and medium scale enterprises.
However, there had been suggestions by some stakeholders that financial institutions were in a better position to disburse and recover the monies than the NBSSSI.
Reacting to these concerns, the Executive Director of the NBSSI, clarified that financial institutions will actually be engaged to disburse the funds.
She added that the modalities for applying for the funds have been activated through an electronic portal that will assess the impact of COVID-19 on businesses.
Source:Fiilafmonline/CitiBuss
