UK government mulls emergency scheme to aid SMEs: Sky News

FILE PHOTO: People wearing masks walk past the Bank of England
FILE PHOTO: People wearing masks walk past the Bank of England, as the spread of the coronavirus disease (COVID-19) continues, in London, Britain, March 23, 2020. REUTERS/Toby Melville

May 5, 2020

(Reuters) – Britain’s Treasury and Bank of England are discussing an emergency funding scheme to help payments to cash-starved small businesses, Sky News reported https://bit.ly/2SCBtDg on Tuesday.

According to the report, the Treasury and BOE are in discussions about a programme targeted at providers of supply chain finance.

Under the plans, which are at an exploratory stage, the Covid Corporate Financing Facility (CCFF) would be amended to promote faster payments of SMEs’ invoices, the report said.

(Reporting by Aishwarya Nair in Bengaluru; Editing by Vinay Dwivedi)

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