DILl, 25 september 2023 (TATOLI)– National Director of Micro, Small, and Media Development Support for Companies at the Ministry of Trade and Industry (MTI), Bernardino de Menezes, reported that over 47 companies became beneficiaries of the Crédito Suave program from 2021 to April 2023.
The Crédito Suave facilities program introduced by the previous government, received 77 proposals in 2021, 71 in 2022, and 41 in January to April 2023, with a total of 189 proposals registered.
Of the registered proposals, there are 103 proposals that have been verified, evaluated and recommended by the commission for approval by the Commercial National Bank of Timor-Leste (BNCTL) in accordance with approved procedures.
“Then the recipient of the notification will receive a financing card based on the notification from the bank, and BNCTL approved 47 companies that can access Crédito Suave, while 12 proposals were rejected and 44 proposals are still pending,” Bernardino de Menezes told Tatoli at the Tower Ballroom, Fatuhada, Dili.
The approved proposals include economic activities in the industrial sector (21), agricultural sector (14), tourism sector (9), and trade sector (3).
From the regions, proposals came from Aileu (2), Ainaro (1), Ataúro (1), Baucau (3), Bobonaro (2), Covalima (2), Dili (26), Ermera (1), Lautem (1) , Liquicá (3), Viqueque (1), Manatuto, and Manufahi which do not yet have recipients who are eligible to access Crédito Suave.
However, the results of monitoring carried out so far shows a good progress, by generating income and creating jobs for the community. The first recipient was the Souro Coconut Oil company in Lautém, which was given a credit of $25 thousand
“This company is doing well because it has promoted its products abroad, thus generating good income and paying credit appropriately. They told us that they want to continue this program, but it depends on the current government, whether to continue this program or not,” he said.
Previously, the Council of Ministers had incurred costs under the deposit contract at BNCTL for the implementation of Crédito Suave and smooth credit guarantee facilities. This decision will authorize the transfer of $50 million from the treasury account to the bank account opened under this contract.
Crédito Suave is funded with $50 million, which has been registered in the State Budget for 2022. Through this smooth credit, recipients can apply for credit at the bank ranging from $1,000 to $25,000 with annual interest of 3%.
Previously, the Council of Ministers had incurred costs under the deposit contract at BNCTL for the implementation of Crédito Suave and smooth credit guarantee facilities. This decision will authorize the transfer of $50 million from the treasury account to the bank account opened under this contract.
Crédito Suave is funded with $50 million, which has been registered in the 2022 State Budget (APBN). Through this smooth credit, recipients can apply for credit at the bank ranging from $1,000 to $25,000 with an annual interest of 3%.
Journalist: Camilio de Sousa
Editor : Nelia B.
