By NATION REPORTERFINANCIAL institutions should be responsive to demand and support the country’s economic growth journey, while maintaining stability, the Bank of Zambian has said.And the central Bank said K8.7 billion of the K10 billion Targeted Medium-Term Liquidity Facility had been approved with K6.9 billion gobbled by commercial banks while K1.8 billion went to nonbank financial institutions at March 31, 2021.BoZ deputy governor-operations, Francis Chipimo said support to SME’s under the TMTRF had been constrained on account of some of the specific challenges that they have faced in access to finance, even before the onset of the Covid-19 pandemic.Dr Chipimo said although lending rates had fallen in response to the bank’s TMTRF initiative, they were still unaffordable while collateral requirements remain unchanged He said to mitigate the adverse economic impact of the pandemic, BoZ was able to quickly and effectively deploy the Targeted Medium-Term Liquidity Facility (TMTRF) of K10 billion.He said this at the policy […]
DON’T BE ALOOF, BANK OF ZAMBIA TELLS FINANCIAL INSTITUTIONS
