By BUUMBA CHIMBULUTERMS and conditions of the K10 billion stimulus package aimed at providing liquidity in the economy have been finalised by the Bankers Association of Zambia (BAZ) and the Bank of Zambia (BoZ).The Medium-Term Refinancing facility will take effect on April 15, 2020.On Friday last week, BoZ Governor, Denny Kalyalya, said a three to five years facility would be available to eligible Financial Service Providers (FSPs) to enable them restructure or refinance qualifying facilities to eligible clients.BAZ chairman, Herman Kasekende, said the discussions with BoZ on the Medium- Term Refinancing facility were concluded and terms and conditions finalised.“The discussions between the Bank of Zambia and Bankers Association of Zambia in the past weeks have been to consider industry’s response to Coronavirus (Covid-19) pandemic and how to protect Zambian businesses during and after the Covid -19 pandemic,” Mr Kasekende said in a statement yesterday.Mr Kasekende said BAZ welcomed the stimulus package which would scale up […]
BAZ, BOZ finalise K10bn stimulus package terms
