IT has been planned to extend the repayment period of the loans issued to the livestock sector by one more year from the expiry date.
This decision was made during the Remedial Action Committee Meeting on the Potential Economic Impacts of COVID-19, which took place at the Ministry of Investment and Foreign Economic Relations’ office on 23 October.
During the meeting, the Chairman of the Working Committee, who is also the Union Minister for Investment and Foreign Economic Relations, discussed the efforts of the regional and state supervision teams in recovering the loan capital and the repayment status of the State’s rotating fund of K50 billion.
Likewise, discussions were held regarding the repayment of loans by entrepreneurs who had completed their threeyear loan term. This included deliberations on whether the loan capital recovered from businesses would continue to be paid in instalments to the general surplus fund.
Furthermore, the meeting addressed the extension of the repayment period for loans issued to the livestock sector, which includes citizen-owned fish and shrimp farming. This extension adds one more year from the loan maturity date.
A total of K7.6 billion in loans have been issued to 325 companies and industries in the livestock sector, which encompasses citizen-owned fish and shrimp farming. — TWA/CT
