Saint Lucia: Ministry of Commerce hosts inaugural MSME Loan-Grant Cheque Award

Castries, Saint Lucia: The Ministry of Commerce of Saint Lucia hosted MSME Loan-Grant Cheque Award earlier this week. The inaugural event presented cheques to six (6) recipients.

During the event, the opening remarks were presented by the Minister of Commerce, Manufacturing, Business Development, Cooperatives and Consumer Affairs – Emma Hippolyte and further remarks were presented by Acting Head, Private Sector Division, Caribbean Development Bank, Lisa Harding; Managing Director of Saint Lucia Development Bank – Cornelius Sidonie and President of Saint Lucia Industrial and Small Business Association – Flavia Cherry.

According to the official update, the event was attended by many leaders and politicians of Saint Lucia, including Prime Minister Philip J Pierre and Deputy Prime Minister Ernest Hilaire. Both prominent leaders of the nation took to social media to express their pleasure and gratitude.

Prime Minister Pierre, who also presented remarks during the event through his social media, noted, “We delivered on our promise to provide MSMEs and the financial assistance that they acquire to become wealth creators.”

Further, while highlighting the key benefits, the Prime Minister stated, “Through this facility, 70 percent grant and 30 percent loan at 3 percent interest, disciplined entrepreneurs can create sustainable livelihoods as well as contribute to this country’s development.”

In addition to this, he also asked the citizens and residents of the nation to utilize the chance. His social media post read, “I urge you all to take advantage of this opportunity and contact the Small Enterprise Development Unit (SEDU) of the Ministry of Commerce at 468-4218 or 468-4223 or visit www.commerce.gov.lc.”

Additionally, Deputy Prime Minister Hilaire also shared a glimpse of the event through his official social media handle and assured the general public that the government would continue to work for the betterment and development of the nation.

“Today, The Ministry of Commerce hosted the inaugural MSME Loan-Grant Cheque Award to its first six (6) recipients. This program promises to provide much-needed support to a very key sector of our economy, the micro and small businesses. Our government will continue to offer support to our locals through its various agencies and ministries,” Deputy PM Ernest Hilaire mentioned.