MAS further expands facility to support bank and finance company lending to SMEs

Singapore, 18th February 2022… The Monetary Authority of Singapore (MAS) today announced that it will further extend the MAS SGD Facility for ESG LendingThe Facility was established on April 20, 2020. The facility was extended twice the October 12, 2020 and July 5, 2021to complete ESG’s two TBLP extensions, the last of which was from October 1, 2021 to March 31, 2022. (ease). This extension will complement the six-month extension of the Enterprise Singapore (ESG) agreement Temporary bridging loan program The TBLP was introduced in March 2020 for a one-year term to help businesses access working capital for their business needs during the COVID-19 crisis. The TBLP was extended twice the October 12, 2020 and July 5, 2021 the last of which was from October 1, 2021 to March 31, 2022. On February 18, 2022, ESG announced a further extension until September 30, 2022. (TBLP) from April 1, 2022 to September 30, 2022.

2 The Facility will continue to provide funding in Singapore Dollars (SGD) to eligible financial institutionsBanks and financial firms participating in the ESG Lending Schemes, which refers to the TBLP and the Business Finance Scheme – Working Capital Loan for SMEs, are eligible to take advantage of the facility. (EFI) for a period of two years. A revised interest rate of 0.5% per annum Since April 2020, the interest rate has been 0.1% per annum for a two-year term for EFIs. Funding for EFIs in the February, March and April 2022 application windows will continue to be at an interest rate of 0.1% per annum for a two-year term. will apply for funding from the May 2022 application window, to better reflect interest rates in Singapore, which have risen alongside the economic recovery.

3 Since its introduction in April 2020, the Facility has disbursed a total of S$14.2 billion to EFIs to support their corporate lending under ESG lending schemes. Collectively, government risk-sharing through ESG lending programs and lower-cost MAS funding through the Facility will continue to keep borrowing costs low for local businesses to meet their financing needs. Treasury.




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