DEG, Proparco boost Mauritian SMEs with $65m deal

France's Proparco and its German counterpart DEG have signed a $65 million loan deal with Mauritius Commercial Bank to support Mauritian businesses affected by the coronavirus crisis.

The objective of the loan is to allocate additional liquidity to MCB over a three-year period to facilitate access for companies to strengthen its support to companies in their endeavour to manage the COVID-19 crisis more efficiently. The Mauritian economy has been impacted by the COVID-19 pandemic and has contracted in 2020. It has heavily been affected  by the fall in tourism, the decrease in external demand and the lockdown measures.