BUSINESS, INTERNATIONAL, DILI

BNCTL offers low interest rate 3% credit for Timorese business persons

BNCTL offers low interest rate 3% credit for Timorese business persons

The Minister of Tourism, Trade and Tourism, José Lucas doCarmo da Silva together with the BNCTL’s Executive director, Brigídio de Sousahad celebrated an assignment on behalf of credit for Timorese business persons at the Mandarin, Dili, on thursday. Images’s TATOLI/ Egas Cristovão

DILI, 17 july 2021 (TATOLI) – National Trade Bank of Timor-Leste (BNCTL) is offering a low interest rate of 3% for Timorese entrepreneurs to run their business.

BNCTL is coordinating with Minister Tourism, Trade and Industry (MTCI), Institution of Support Entrepreneur Development (IADE) and United National Development Program (UNDP), to provide credit for Timorese entrepreneurs to run their business activities.

The BNCTL’s Executive director, Brigídio de Sousa

The BNCTL’s Executive Director, Brigídio de Sousa said the bank has received five proposals form MTCI’s evaluation team, four of which was approved and qualified for access to bank credit facility.

“We have approved four proposals and consider that they deserve credit with low interest (3%). Thus, today is officially held a signs ceremony between BNCTL and MTCI. In the first period the beneficiary for this credit will access the amount of $1.000 until $25.000 in the first period,” he said.

Today, BNCTL is offering credit to four of business persons with the amount of $.70.000 and the amount is based on the type of business, and some request for $.1.00 up to $25.000.

He considers that BNCTL provided low interest for Timorese entrepreneurs to support them in recovering their business economy problem that they are facing, while the country is encountering a crucial problem.

Thus, they might be able to get back to the situation of running their business effectively and can collect some revenue and provide job opportunities for other Timorese people.

Mr. Sousa said BNCTL is not benefit for this credit but the important point, the contribution of Timorese bank to support business person come back to normal situation on this business.

“I call to all group or individual Timorese entrepreneurs who benefit from this program to use this money with responsibility and take part for the country ‘s economic development,” he said.

He added if any business person faces any finance management, the business owners have approached the Bank to solve this issue. For those business persons who are successful on this credit and show positive results, BNCTL will continue to increase the amount of credit to support the business development.

Journalist: José Belarmino de Sá

Editor: Rafy Belo

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