100M Government Guaranteed Loan Facility

May 14th, 2020


MEDIA RELEASE

100M Government Guaranteed Loan Facility

 

Government of the Republic of Trinidad and Tobago

MINISTRY OF FINANCE

Corporate Communications Unit

 

Signing of Agreement with the Co-operative Credit Union League of Trinidad and Tobago (CCULTT) and the Central Finance Facility (CFF), for a $100M Government Guaranteed Loan Facility.

On Friday May 8th, 2020 the Honourable Colm Imbert, Minister of Finance, on behalf of the Government of the Republic of Trinidad and Tobago (GORTT), signed an agreement with the Co-operative Credit Union League of Trinidad and Tobago (CCULTT) and the Central Finance Facility (CFF), for a $100M Government Guaranteed Loan Facility.

The agreement allows Credit Unions which fall under the umbrella bodies of the Co-operative Credit Union League of Trinidad and Tobago (CCULTT) and the Central Finance Facility (CFF), to provide COVID-19 Emergency Income Loans to affected nationals and residents who are members. This follows the initial signing agreement which occurred on Monday April 27, 2020.

Members may avail themselves of affordable loans at their Credit Unions of up to $5,000 per month for three months, or $15,000 in total. These loans will be priced at half the usual interest rate and will have very favorable repayment terms.

Present at the signing ceremony were, Senator the Hon. Robert Le Hunte, Minister of Public Utilities, Mr. Joseph Remy – President, Co-operative Credit Union League of Trinidad & Tobago, Ms. Dianne Joseph – Chief Operating Officer, Co-operative Credit Union League of Trinidad & Tobago, Mr. Lyndon Byer – Vice President, Central Finance Facility Co-operative Society Limited and Mr. Joel Edwards – Consultant to the Central Finance Facility Co-operative Society Limited.

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