Singapore to continue support for business financing

30-Dec-2009 Intellasia | Reuters | 7:01 AM

Singapore said on Monday it will extend for another year its support for business financing schemes launched at the onset of the global economic downturn.

The government expects to support up to S$8.4 billion ($5.98 billion) of new loans till end-January 2011, the government said in a statement, adding the extension is on revised terms due to an economic recovery.

The risk-sharing and the enhanced business financing schemes have catalysed more than 14,000 loans worth about S$8 billion since December 2008, helping mostly small-and-medium enterprises.

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