More than 20,000 firms tapped S$17.4 billion in COVID-19 business loans through Enterprise Singapore Jump to top Search

SingaporeSINGAPORE: Between March and December last year, about S$17.4 billion in loans were extended to more than 20,000 firms under schemes supported by Enterprise Singapore (ESG), introduced and enhanced to tackle challenges posed by the COVID-19 crisis. 

This is more than 13 times the amount of aid extended under ESG-supported loans in 2019, when about S$1.3 billion was given out, said Trade and Industry Minister Chan Chun Sing on Friday (Jan 8).

The loans extended during the COVID-19 outbreak help ensure companies can "continue to function, to make sure they retain their capabilities and capacities", Mr Chan told reporters on the sidelines of a visit to wholesale trade firm PS Energy, which distributes fuels and lubricants.

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