Covid-19 Projects Development Fund: Rs 500 Million of Rs 3 Billion Lost to Silver Bank

Following the instructions of former Finance Minister Renganaden Padayachy, the Covid-19 Projects Development Fund invested Rs 3 billion in Silver Bank. The bank's operating license was revoked by the Bank of Mauritius on April 30. Out of the total Rs 3 billion invested, Rs 500 million remains outstanding, and there is no certainty regarding its recovery.