A source close to the National Fund for Small and Medium Enterprises Development confirmed the decision to stop financing the owners of small and medium enterprises is still in effect, because of the pressure on the public budget in light of the lack of liquidity and the decline in the state’s revenues.
The source added, in an exclusive statement to Al-Anba, that the government is currently unable to pump 100 or 200 million dinars in grants to support and encourage the SMEs initiators in light of the current economic conditions, so the fund management believes that the first thing in the current stage is to continue to postpone the installments owed to the owners of SMEs and also postpone collection of money due by defaulters.
The source explained continuing to postpone the installments until overcoming the repercussions of the current crisis facing Kuwait and the world is the most appropriate solution at the moment, as it can provide an opportunity for a large segment of SMEs owners to correct their situations and begin their activities again, especially since life begins to limp towards normalcy.
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