DBM to pay back old loans of planters, breeders, fishermen

Planters, Breeders and Fishers facing difficulties in repaying their long overdue loans may breathe.

The Development Bank of Mauritius Ltd (DBM) is applying a Budget 2021/2022 measure to implement an “Amnesty Scheme” that would apply to those who need to pay back up loans of up to Rs200,000 and which are more than ten years old.

The measures were detailed in a Cabinet paper just released:

• for loans up to Rs100,000: DBM will waive full amount of capital, interests and penalties;
• for loans above Rs100,000 and up to Rs200,000, DBM will waive all interests and penalties;
• for beneficiaries who have availed of loans between Rs100,001 and Rs200,000 and who have passed away, DBM willwrite off all their liabilities on a case to case basis; and
• for loans granted to individual fishers in Rodrigues, through the Nassola and United Cooperative Credit Unions, DBM will write off the total liabilities.

The Scheme is effective as from Friday July 02, 2021.