Posted: December 10, 2020
Economic Recovery Programme – Interest Make-Up Scheme Criteria
The COVID 19 pandemic has created profound disruptions to the economy that has negatively affected companies. As part of its Economic Recovery Programme, an Interest Make-Up Scheme will be implemented by the Department of Trade, Industry and Competition (the dtic) to assist companies in “financial distress” while sustaining existing jobs and productive capacity. The scheme will be implemented alongside other private and public sector economic support initiatives.
The application Process for the above will be that potential applicants will be initially vetted by their Financiers to assess whether they will fit the criteria of the scheme. The Financier will then submit the applications to the dtic for further assessment and approval