Kuwaiti banks to provide SMEs with financing at 2.5% interest - c.bank

Kuwait's central bank said on Tuesday that banks must provide qualifying small and medium enterprises (SMEs) affected by the coronavirus outbreak with financing at a maximum 2.5% interest rate.

Kuwait's National Fund for Small And Medium Enterprise Development will provide 80% of the SMEs' funding needs at no interest for up to three years, while banks will finance 20% and the state will support companies in paying the up to 2.5% interest for three years.