Negotiations Underway for Small Business Fund

(ZIZ News) — Prime Minister, the Hon. Dr. Timothy Harris has announced that negotiations are underway with the St. Kitts and Nevis Development Bank toward the establishment of a fund, specifically designed to assist small businesses.

Prime Minister Harris was at the time updating nationals on the activities undertaken by his government since assuming office.

He said they are now proceeding with another initiative of putting a sizable sum of money into the Development Bank, specifically to assist “entrepreneurs who want to stock out their shop, buy new parts, get their equipment up and going, and for the young artists who need to produce their videos”.

The Prime Minister said the negotiations have begun to get that money, without it being a charge to the Treasury.

He said financial discipline will be one of the hallmarks of his government as he reflected on his legacy when he was Minister of Finance in 2008. He said at that time, the budget attained a surplus of more than $131 million and in 2009, the surplus was more than $140 million.

Dr. Harris promises to bring the same degree of accountability and fiscal prudence to the management of the country’s resources.

The Prime Minister also gave an update on the funding and establishment of the Sugar Workers’ Restoration Fund, the reform of the Citizenship by Investment (CBI) programme and the improved relationship with the United States, Canada and the European Union.