COVID-19 support scheme: over 2,000 Private schools to receive funds from government

The National Board for Small-Scale Industries (NBSSI) has started disbursing GH¢50 million to private schools which applied for loans under the Coronavirus Alleviation Programme Business Support Scheme (CAP BuSS).

The disbursement is to enable about 2,000 private schools - adversely impacted by the COVID-19 pandemic - pay the salaries of their teachers and other members of staff.

The Executive Director of the NBSSI, Mrs Kosi Yankey-Ayeh, in a briefing, as reported by Graphiconline.com, said her office had commenced payment to those private schools through designated banks.

Beneficiaries, who met the rigorous criteria designed by the NBSSI would receive up to GH¢250,000 each, under what was known as the Anidaso and the Adom special loans, Mrs Yankey-Ayeh explained.

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The special fund is categorised into Anidaso and Adom special loans, with an interest rate of three per cent, payable within two years, after a moratorium of one year.

She said her office was working around the clock and in close collaboration with participating financial institutions (PFIs) to effect disbursements.

“The NBSSI is still in the process of disbursing loans, in collaboration with selected PFIs, to private schools that applied, as well as other eligible applicants. Each of those who passed will receive the funds in due course,” Mrs Yankey-Ayeh said.

The disbursement of the CAP BuSS fund started in July this year with loans in the Adom Micro category receiving support.