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Contact:
Virnet St. Omer-Fontenelle
Monday, August 16, 2004 – Every year, hundreds of Saint Lucians face
financial institutions for loans to study. For some it means a series of
disappointing encounters, because of an inability to meet the basic requirements
for credit.
This year the Government of Saint Lucia is making the process a lot easier and
affordable with the launched of the Human Resource Credit Facility. The
government is making available, grant funding of up to $25,000 dollars to
students applying for study loans. The Human Resource Credit Facility will
assist in the repayment of loans, security requirements or for repayment of
interest.
On the urging of Prime Minister Dr Kenny Anthony, the office of the National
Authorising Officer in the Prime Minister’s office designed the facility, which
will be administered through the Bank of St. Lucia and the St. Lucia Credit
League.
National Authorising Officer, Mr Wilfred Pierre said that by lessening the
financial burden, the facility would create access for those who otherwise would
not be able to secure a loan, while building the human resource capital base of
the country. He pointed out that this was critical, as Saint Lucia established
itself in the CARICOM Single Market and Economy. “The single market offers a lot
of challenges, but it also offers opportunities, which an educated workforce can
take advantage of,” Mr Pierre said.
To date some 65 persons have received loans under the programme.
The facility is open to persons wishing to study locally or overseas.
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