PM Philip J Pierre pledges to uplift Saint Lucia’s local businesses with YEA, MSME

Castries, Saint Lucia: The Prime Minister, Philip J Pierre, has laid the foundation that will usher in a new generation of business leaders and inspire a new era of wealth creation in Saint Lucia.

The ‘Office of the Prime Minister of Saint Lucia’ took to their official social media handle (Facebook) to share this update with the people of the Federation.

Moreover, the Saint Lucians expressed their delight for the Youth Economy Agency (YEA) and the MSME Loan-Grant Facility as they agreed to help financially with the entrepreneurial ventures.

“Saint Lucians have overwhelmingly responded to the Youth Economy Agency (YEA) and the MSME Loan-Grant Facility to finance their entrepreneurial ventures”, stated the official page of the office of the PM of Saint Lucia.

Additionally, in 2023, over 1600 grants and 500 loan applications were received by YEA. The MSME Loan-Grant Facility was over-subscribed within the months of issuing its first call.

Moreover, more than 510 applications were submitted under this project.

It is to be noted that the leader of Saint Lucia is looking forward to implementing policy measures which will give rise to new generations of entrepreneurs through the Youth Economy and MSME Facility.

Noting this, such an initiative will demonstrate the people’s capacity to receive sustainable employment and wealth in the future.

“We will continue to implement policy measures to give birth to a new generation of entrepreneurs through our Youth Economy and MSME Facility. These programmes have demonstrated the innovative capacity of our people to generate sustainable employment and wealth in the future”, added PM Pierre.

For the development of the country, the government of Saint Lucia has secured XCD20.5 million for the youth economy agency.

Moreover, not only, more than 400 projects are also a part of the business and job creation in the country.

Additionally, a significant amount of XCD 10 million has been added to the MSME Loan Grant Facility.

Further to this, such projects will enhance employment opportunities and improve business and job creation chances for the people of the Federation.