M350m loan guarantees for Basotho businesses

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The ministry of finance and the LNDC have signed an MOU authorizing LNDC to issue guarantees worth up to M350 million through Government financial support under the auspices of National Economic Stimulus Package on Covid-19 pandemic.

The guarantees will support Basotho-owned businesses seeking loans from commercial banks under the newly restructured Covid-19 Response Partial Guarantee Scheme launched by Prime Minister Moeketsi Majoro.