By MAIMBOLWA MULIKELELA –
THE Development Bank of Zambia (DBZ) will disburse US$30 million received from China Development Bank Corporation for onward lending to the Small and Medium Enterprises (SMEs).
DBZ senior stakeholder relations officer Kaputo Liyani said his bank had US$30 million available to lend out to the SMEs, in a bid to create stable employment, empower citizens, develop infrastructure, and consequently contribute to economic growth.
This is contained in a statement issued in Lusaka yesterday and made available to the TIMES.
“The funds under this facility are part of the China Development Bank Corporation and DBZ’s commitment to provide funding in connection with the development of SMEs in Zambia, with the aim of assisting the country obtain stable employment, a prosperous market and economic development,” Mr Liyani said.
He said any limited liability company was eligible to apply for a facility under this line of credit, provided they meet all the requirements.
Mr Liyani explained that the company should have the ability to provide cash cover collateral of 20 per cent of the total loan amount requested  adding that, the loan amount should be a minimum of K1 million.
He said the bank would only finance projects that are financially feasible, economically viable and capable of yielding an acceptable rate of return on investment.
This is evidenced by the recent announcement that it will give DBZ a loan facility of about US$50 million for onward lending to various sectors of the economy.