Many media outlets are facing bankruptcy due to the COVID-19 pandemic. Several local medias have also claim that they are losing sponsors and advertisers which is a main source of income for many media.
In order to tackle this, the government has announced that it would provide loans via SME Development Finance Corporation (SDFC). The loans are designed under the name of COVID-19 Business aid: Media Package. The package provide 6 year repayment period with 4 percent interest. All media outlets whom applies would be granted maximum amount 300,000 for loans.
SDFC announced the following on Friday in a public circular statement with media interest rates and loan application schemes.