Africa-Press – Seychelles. The Central Bank of Seychelles (CBS) has closed the access period to the Private Sector (MSMEs) Relief Scheme and Private Sector (Large Enterprises) Relief Scheme.
The CBS board approved this decision on March 31, 2022 with immediate effect, in line with CBS’ Unwinding Strategy – Covid-19 Policy and Relief Measures, and based on assessments undertaken on the cchemes, including analyses on macroeconomic developments and impact on the banking sector.
It is to be noted that from the reopening of the schemes on February 1, 2022 until March 23, 2022, the commercial banks, Development Bank of Seychelles (DBS) and Seychelles Credit Union (SCU) had not received any new applications under both schemes.
Notwithstanding the closure of the schemes, private sector businesses being impacted by the effects of the pandemic can seek assistance from their respective financial institutions which have reinstated the provision of credit facilities, in line with the accommodative monetary policy stance adopted by the CBS.
CBS will continue to monitor the Covid-19 developments and its impact on the local economy, and will adjust its policy measures as appropriate, in line with its mandate to maintain price and overall financial stability.
For More News And Analysis About Seychelles Follow Africa-Press
