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Prime Minister Anthony welcomes small business boost

By Office of the Prime Minister

Prime Minister Dr Kenny Athony

PRESS RELEASE – Prime Minister and Minister for Finance, Economic Affairs and Social Security, Hon. Dr. Kenny D. Anthony has welcomed the launch of a new investment facility for the local private sector.

Scotiabank recently unveiled its Economic Growth Fund, a $50 million reserve intended to boost the development of small and medium businesses in the Eastern Caribbean.

Through the EGF, emerging businesses can access specially discounted financing, waived fees and lower equity requirements. The EGF is initially available to local firms until the end of 2015.

According to Prime Minister Anthony,

“Scotiabank’s Economic Growth Fund has been specifically designed with the goal of reinforcing the corporate sector and ultimately the fiscal climate in Saint Lucia and the sub-region. This is a welcome addition to the financial offerings available, and I commend Scotiabank for this initiative. This facility speaks to the confidence that Scotiabank, an internationally respected lending institution, reposes in the future of the economies of the region. We are trending positively, and have every intention of continuing in that vein. Our entrepreneurs must look at what Scotiabank is offering through the EGF, and determine how it can help further their businesses.”

The loan fund will finance companies that are seeking to expand, purchase new equipment or modernize their technology and tools for the purposes of heightening operational efficiencies and competitiveness.

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10 comments

  1. Don't turn a positive into a negative. Think Positive. Stop the Naysaying. Just give it a try. Life is a gamble !

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  2. the interest rate at scotia causing heart attack.

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  3. Bernard you was never laybar. If you was, you would have understood where the economy is at and would not blame anyone. For this economy needs some structural adjustment. I for one believed that we should have gone to DE IMF way back in 2012. My agreement is that it would have been easier for lucian to accept a foreign pill than a local proscribed one.

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  4. This loan is not for start ups. Read last paragraph. So how will it help the youth.smh jokers.

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  5. Scotia Bank that charging for everything right now. Who in the right mind will go to them. Next you paying off a life time.

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  6. Such a loser. The amount hassle these people giving young ppl to get a business loan isn't funny and KENNY knows that. You can jump high, you can jump low I ain't voting for your economy destroying self again - I AM DONE WITH LABOUR.

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  7. Small businesses if for sure a way to provide growth in the economy and jobless rate reduction. The situation is The Bank would have done it's part, what role does the government plays in ensuring legislation is in place to support the startup and keep it alive. Remember, this is an investment from the bank.

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  8. "Who is"

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  9. where are we going to get money to buy from them, when all you do is put taxes on us.

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  10. \ you know damn well how hard it is to even get a business open in this country. He knows the amount of businesses which have closed and the hardships these businesses face. Whats the point of starting a business, with the state of our economy only to close it down before an anniversary... choops

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