JOHANNESBURG (Reuters) – South Africa is considering some kind of “funding for lending” scheme for banks as one option in response to the coronavirus crisis, central bank deputy governor and head of the Prudential Authority Kuben Naidoo told Reuters on Tuesday.
“We’re not the primary drivers, but I know the Treasury is considering these issues,” Naidoo said by phone, adding this would be a Treasury initiative.
“The central bank would be involved, our law doesn’t allow us to lend unsecured, but as part of a broader design of a scheme we’re prepared to be involved.”
South Africa’s Treasury did not immediately respond to a request for comment.
(Reporting by Emma Rumney; Editing by David Holmes)
