At least 500 Saint Lucian MSMEs and entrepreneurs are eligible to access capital to grow and jump start their business ventures from the newly minted MSME Loan Grant Facility.
he Government of Saint Lucia has secured XCD 10 million from the Caribbean Development Bank’s Special Development Fund 10th Cycle Loan Facility to materialize this new policy.
Up to 70% of the funding for approved applicants will be grant and just 30% loan a interest rate of only 3%. Conceptualized by Prime Minister Hon. Philip J. Pierre in 2021, the MSME Loan Grant Facility was officially launched on March 16, 2023.
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SOURCE: Office of the Prime Minister. Headline photo: Stock image.