The National Export-Import (EXIM) Bank has, to date, approved and disbursed 162 loans valued at some $1.56 billion to 72 beneficiaries, through a loan facility established to provide financing to small and medium tourism enterprises (SMTEs).

Tourism Minister Edmund Bartlett made the disclosure as he closed the 2022/23 Sectoral Debate in the House of Representatives on Tuesday.

Some $1 billion was earmarked by the Tourism Enhancement Fund to provide financing to SMTEs within the tourism sector and Linkages Network as well as manufacturers and suppliers to the industry.

This facility is being managed through the EXIM Bank, which is currently processing an additional $100 million in loan applications as the tourism sector rebounds.