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Covid-19: BNI disbursed more than US$9.4 million in financing to companies – Carta
1:35 CAT | 16 Nov 2020
File photo: BNI
The National Investment Bank (BNI) has already disbursed more than US$9.4 million projects under the two credit lines supporting micro, small and medium enterprises (SMEs) severely affected by the Covid-19 pandemic, a third report by the Ministry of Economy and Finance (MEF), on the “State of Play of Commitments to Partners within Covid-19: October Position” reveals.
The MEF report recalls that the BNI created the Special Credit Committee for the evaluation and approval of project financing under the two credit lines: one in the amount of US$15 million financed by state budget, and another in the amount of US$9 million financed by funds from the National Social Security Institute (INSS).
Based on the total value of US$24 million, the MEF says that the Special Credit Committee approved 151 project proposals from around the country in the amount of US$18.9 million, (about 1.2 billion meticais) leaving about US$5 million (about 335 million meticais) yet to be allocated.
“More than half of the amount approved has already been disbursed to the beneficiaries,” the report reads, concluding that, by October, the BNI had financed projects to the tune of more than US$ 9.4 million.
The MEF clarifies that, regarding the amount not yet disbursed, the BNI is waiting for the proponents themselves to present the necessary documents.
A total of 925 companies competed for support under the credit lines in question, of which 151 proposals were approved. Of the total, the trade sector stood out with 30%, followed by livestock (22%), industry (8%), agriculture and education (6%), and tourism (4%).
By Evaristo Chilingue
Source: Carta de Moçambique
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So a royal USD 9.5 million disbursed to SMEs… out of the multiple three digit millions from donors, the IMF etc to support the country and its economy during the pandemic. Any idea where the difference is? When will someone audit seriously where the money of foreign taxpayers is spent!