SMEs and Foreign Trade: Support Measures Announced

On Friday, April 10, the Council of Ministers approved several measures aimed at supporting SMEs and ensuring the stability of foreign trade. Among these measures is the SME Resilience and Import & Export Continuity Support Scheme, which includes maintaining the current freight discount mechanism to provide targeted and temporary support to affected businesses.

The government also plans to implement measures to ease liquidity constraints, including a moratorium or restructuring of loans granted by DBM Ltd and other financial institutions. A Working Capital Loan Scheme from DBM Ltd is being considered to address the short-term needs of SMEs.

Furthermore, the authorities intend to expedite the operationalization of VOSTRO accounts with India to facilitate the settlement of trade transactions in local currencies.