(ZIZ News) — Local entrepreneurs are being given the opportunity to capitalise on their business ideas through a special fund that has been set up at the Development Bank of St. Kitts and Nevis, courtesy of the partnership between the Bolivarian Republic of Venezuela and the Government of St. Kitts and Nevis.
It was obviously a proud moment for the country’s Prime Minister and Minister of Finance, Hon. Dr. Timothy Harris, when he and representatives of PDVSA St. Kitts and the Government of Venezuela, signed documents to make official, the beginning of the Fresh Start Programme.
Dr. Harris said through the arrangement, locals can start businesses.
“This particular arrangement, which we call the Fresh Start Project, is intended to give a fresh start to young and not so young entrepreneurs, those who otherwise are finding it difficult to be able to access financing from the commercial financial enterprises,” he said.
General Manager of the Development Bank, Lenworth Harris also spoke at the Friday morning ceremony. He shared some specifics for potential loan borrowers.
Maria Colmenares of PDVSA spoke with pride of the arrangement and pledged to continue supporting the local Government and the people of St. Kitts and Nevis by extension.
“This project will have a significant impact on poor persons and the marginalised youth directly through the access to a Capital Two Fund to small and medium-sized business and this is the beginning of many other projects that we will do through the Petrocaribe Agreement with the Government of St. Kitts,” she explained.
Meantime, Hon. Ian Liburd, who is the Minister who oversees matters relating to the Petrocaribe Agreement, said the arrangement encompasses far more than oil matters.
“When we think of the Petrocaribe Agreement, most people just think of oil, supplying fuel for our generation plant but it’s much more than oil. It’s a social, cultural and of course, economic development,” Liburd said.
The Fresh Start Programme was among the election campaign promises of Team Unity.