Socialize credit guarantee system to private sector business
ACAIT – on Friday, 28 July 2017, Chamber of Commerce and industry Timor-Leste (CCI-TL) in cooperation with the Central Bank of Timor-Leste (BCTL) organized a National Workshop to Introduce new Credit Guarantee System for business which held at the Hotel Novo Tourism.
In his opening remaks, the Governor of Central Bank of Timor-Leste, Mr. Abrao Vasconcelos the VI Government approved the System of Credit to support our Medium and small companies (MPE) in the country, and this System will be handled by Bank Central with this is the Central Bank has prepared a Draft Regulations on the General Rules to ensure the Regime of credit for business development to allow the Central Bank to implement any Scheme of Guaranteed effectively and with flexibility. He added that, before the design of this Scheme, the Central Bank also made in consultation with the Banking Institutions in the country including Chamber of Commerce and industry Timor-Leste (CCI-TL).
On the same occasion, the President of the CCI-TL, Mr. Oscar Lima said that the Scheme of a Credit Guarantees crucial to help Banking Institutions open access of credit to our entrepreneurs and he is also very pleased that, with the system Guarantee of a Credit flexibiliza also the Bank and Actually reduce the risk, a interest rates low to help our Small and Medium Enterprises (SME’s) access to credit.
Vice President of the CCI-TL issues financial institutions, Eng. Rui Manuel de Castro noted, since the first CCI-TL struggle to improve small and Medium Enterprises their lives through increasing their business management Skills and access to financial support and systems of Guarantee of a Credit will develop better our National private sector and SGC also as an important tool for economic development and social justice will help.
This workshop from nine o’clock morning until one o’clock afternoon and opened by he the Minister of State Coordinator For Economics, Eng. Estanislau da Silva and a. participation of Civil Society members, Government, diplomatic Representatives and business people small and medium National and international.