The Mission Of DBM

What about Budget 2021/2022.

The Bank will operate new schemes that will support those sectors that have also been impacted by the COVID-19 but have not received any assistance and who are thriving to keep their business afloat.

1. General retailers – A new scheme is being proposed for them where they will be eligible for financial assistance of up to a maximum of Rs 5.0M at an interest rate of 3.5%p.a. and the Bank has earmarked a sum of Rs 1.0 billion under this scheme.
2. The tourism sector – a Tourism Business Continuity loan scheme at an interest rate of 0.5% p.a repayable over 7 years including a moratorium of 2 years. The target group are small hotels, guest houses, tour operators, restaurants etc., in a nutshell, operators linked to the tourism industry.

While the SME Interest Free Loan scheme of Rs 100,000 and the COVID-19 SME Loan Schemes of Rs1.0 million are being extended to planters, fishermen and Women entrepreneurs, the Bank will also operate a special loan scheme to enable the purchase of solar kits for domestic use. Under the scheme a loan of Rs 100K at the concessionary rate of interest of 2% p.a and repayable in 5 years is being provided. As we are all aware, planters and breeders in Rodrigues are facing acute problem of water and in order to alleviate their hardship, the DBM has introduced a new scheme designed to finance the construction of water storage facility including purchase of irrigation systems.

Furthermore, given the success of the Backyard Gardening Scheme and in furtherance of our objective of “produce what you consume”, the ceiling of Rs25,000 is being raised to Rs 100k and in order to remove any gender bias, the eligibility is being extended to households.

With regard to the provision of Industrial space, the DBM, being the pioneer in this segment, and The Municipal Council of Vacoas / Phoenix are joining hands to erect a model SME Park at Solferino for micro enterprises such as mechanics, tailors, carpenters and other trades. This venture will be another milestone in the history of Mauritius where the DBM and a local authority are collaborating for the setting up of an SME park.

In Rodrigues, the Regional Assembly and DBM have joined hands through a Special Purpose Vehicle, the Rodrigues Business Park Development Ltd (RBPD), to set up the first Technopark in the island. The RBPD and the Economic Development Board have signed an MOU with regard to the marketing of the Rodrigues Technopark.

Last but not the least, the DBM will be implementing an Amnesty Scheme for the benefit of planters, breeders and fishermen

who have availed of loan facilities of up to Rs200,000 and are facing difficulties in repaying their long overdue loans which are more than ten years old. This Amnesty scheme will also apply to our brothers and sisters of Rodrigues.

Finally, how do you see DBM in the coming years?

DBM has supported economic operators over the last 83r years will remain committed to its primary objective of accompanying economic operators. The vision is to transform the DBM into an organisation that would withstand the challenges unfolding in the aftermath of the COVID-19 pandemic and adapt itself so as to be able to continue to support the economic operators of the future. We are already present in development finance, leasing, factoring and rental of industrial space. The objective is to consolidate these activities as well as diversify in the green energy sector with the production of clean energy on roof tops of DBM and Government buildings through Solar PV systems. We want DBM as a DFI to be a leader in the Southern Africa region.