Government has decided to advance a policy to set up a special facility at the Agricultural industrial Development (AID) Bank to support micro, small and medium enterprises.
The thirty million dollar facility was announced by Prime Minister of Dominica and Minister for Finance, Hon. Roosevelt Skerrit during his 2020/2021 budget address in July of last year.
PM Skerrit stated that this assistance is required if these business are to development and add to the country’s economy.
“In the 2020/2021 budget address I indicated to the nation that Government is cognizant of the need to continue to assist micro, small and medium businesses in accessing the necessary financing for their development growth and viability. Government will provide o the AID Bank an amount of thirty million dollars over a three year period for unlending to micro, small and medium sized business. That was the commitment the Government made to the nation in the current fiscal year,” the Prime Minister noted.
PM Skerrit then announced that 27 million out of the promised 30 million will be advanced to the AID Bank in May 2021.
“I am happy to report that we will be advancing that initiative and we will provide the AID bank in the month in May with 27 million dollars in one cheque that will go towards micro, small and medium sized businesses in Dominica to unlend to them at highly concessionary rates. So were truncating a three year programme by advancing the funds to the AID Bank, 27 million out of the 30 million committed,” PM Skerrit added.