St Kitts and Nevis: The Government of the twin-island federation has joined the hands of other Caribbean countries to commence the Women’s Empowerment Guarantee Project. As per the Governments, the main aim behind the project is to extend support towards the countries in Latin America and the Caribbean Region in boosting their economies post-COVID-19 pandemic.
The project will also focus on providing assistance to maintain social stability by enhancing the economic empowerment among women.
During a virtual signing ceremony held at the National ICT Centre, , stated that the journey of entrepreneurial funding for the Micro, Small, and Medium Enterprises (MSMEs), funded by the closest ally – the Taiwanese, stated last year with the beginning of the entrepreneurial trainings for women.
He continued and stated that for the first three cohorts in St Kitts, around 120 people were signed up. Out of the total, a few may have quitted but more than 100 successfully completed the programme and enjoyed the benefits of the training and the financing, which covered the areas such as – business ideas, food and beverage as well as beauty care products.
The ceremony, hosted on March 30, signalled the commencement of the second phase of the project, which is further divided into two categories. Category one includes the provision of credit guarantees to the target market through the Participating Lenders, up to 85 percent of the funds, that is, US$4,250,000. On the other side, category two speaks to support for the implementation of the Project (costs for project promotion activities and staffing and other costs related to project implementation), up to 15 percent of the funds, that is, US$750,000, which will be withdrawn in accordance with Section V, Schedule 2 of this Agreement.
Minister Hamilton further thanked and expressed pleasure towards the Government of Republic of China (Taiwan) and also encouraged the women.
He was quoted as, “I want extend thanks to our closest friend – Taiwan for supporting many initiatives in St Kitts and Nevis for more than 38 years.”
“I look forward to our women for taking advantage of the opportunity,” the minister optimized.