IDC has approved COVID-19 funds, being the MCEP COVID-19 Fund (from DTI) and the IDC COVID-19 Fund (from IDC). Both funds seek to alleviate shortage of essential supplies though providing finance towards manufactures of identified priority products. To apply, you just need to submit an application to IDC online email on firstname.lastname@example.org (refer to the guidelines for information required).
Worth noting is the following:
- Pricing for MCEP COVID-19 Fund is at a fixed rate of 2,5% and IDC COVID Fund is at Prime + 1% for loans and Guarantees at 2%.
Further details are available on the IDC website. IDC are available to engage with players in the effected industries to determine specific interventions.
Guidelines for both funds can be found below: