CEO Balwyn Faótusia of Ministry of Finance and CEO Leta Kami of Tonga Development Bank signing the extension of the Government Development Loan Scheme to be effective for 5 years from 1st October 2020 until 2025.
The Scheme has been expanded with an additional $5 million bringing the total GDL to $18 million with an objective to assist agriculture, fisheries, tourism, education and other priority sectors including those that were affected by COVID19 and TC Harold.
Loans will be available at 3% going forward. Over 3,000 beneficiaries have utilized this opportunity during the last 6 years meeting the objectives of the scheme in promoting Tonga’s economic and social development. Detail information is available from the Tonga Development Bank.
Press Release document file below: