Gov’t to set up special SME fund
By Benjamin Jumbe
The government through the Ministry of Finance, Planning, and Economic Development has committed to continue providing support to the private sector as part of recovery efforts from the devastating effects of the Covid- 19 pandemic.
The ministry’s permanent secretary and secretary to treasury Ramathan Ggoobi reveals that as part of interventions to realize the above, the ministry has established the Small Business Recovery Fund.
He says through this fund, the government is to extend financial assistance to Small and Medium companies that were affected by Covid-19 noting that about Shs 200bn has been earmarked for this.
Meanwhile, he revealed that the ministry had also provided Shs600 bn for the first half of the financial year to help in the Covid-19 response.
The ministry projects economic growth of 3.8 % this financial year.
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