Dominica Wants to Launch US$30 Million Small Business Finance Program

Prime Minister of the Commonwealth of Dominica, Roosevelt Skerrit, will issue a statement on the distribution of the annual budget on July 28. In his speech, he will talk about the government's plans for the sustainable development of infrastructure (hospitals, health centers, and homes), measures taken against hurricanes, and education after the pandemic.

More recently, another topic was announced at the presentation - the US $ 30 million small business financing program.

"We are going to be launching a three-year program of financing [for] small businesses that will also include the passage of legislation to create the legal framework for the operation of small businesses where concessions and fiscal incentives are concerned, and in recognition to the small business sector in our country. So we'll be launching a three-year, $30-million initiative for the small businesses in Dominica. And those funds would be lent to small business owners at 1%, and [are] to be managed by the AID Bank."

On Sunday's live broadcast, the prime minister touched on both the digital economy and plans to promote digital services in the private and public sectors. The government especially wants to pay attention to the quality of education and its improvement and the creation of new opportunities for youth.

Source: prnewswire

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