Cyclone Belal aftermath: Up to Rs 500k loans for SMEs

Starting from Monday 22 January, those directly affected by the passage of Cyclone Belal will be able to benefit from a bank loan from the Development Bank of Mauritius.

This includes farmers, livestock breeders, fishermen, and other small and medium-sized enterprises.

The loan will be for a maximum of Rs 500,000 with an interest rate of 1% per annum.

The CEO of DBM, Jaywant Pandoo, highlights that an assessment of the damages will need to be conducted.

It is the responsibility of organizations such as Farei, MCIA, the Ministry of Fisheries, and the police, among others, to carry out this exercise.

Jaywant Pandoo explains, “We have made efforts to streamline the procedures. Those who have submitted their applications properly will receive their money within a maximum of two weeks.”

This Rehabilitation Loan Scheme was established following the approval of the ministerial cabinet, which met last Friday.

Source: Le Mauricien