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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.