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Government soon to establish youth equity fund to assist youth entrepreneurship

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Contact: Shannon Lebourne

Monday, December 7, 2009 – The Government of Saint Lucia says more opportunities will be available to the youth shortly, to broaden their scope in business and personal development, with the soon to be launched Youth Enterprise Equity Fund.

The fund will be managed by the Saint Lucia Development Bank (SLDB).

The institution's Director Mr. Jn. Francois Sonson, says the fund is being finalised as the SLBD is presently reviewing some of its products and services, to better respond to an evident demand for financial assistance from the citizenry.

He says the Youth Enterprise Equity Fund is designed to support a new era of entrepreneurship in Saint Lucia.

“Very soon we will be launching some additional products and one which I want to mention now is the “Youth Enterprise Equity Fund” which was actually announced by the prime minister in this year's budget. We are in a very advanced stage of finalising this product and I am hoping that we can launch this very soon to make an impact on our young people by ensuring that they can find the resources to become entrepreneurs and in fact be the future entrepreneurs of this country,” Sonson noted.

Meanwhile, Prime Minister and Minister for Finance Honourable Stephenson King, has pledged government’s continued support and commitment to the Saint Lucia Development Bank (SLDB).

Mr. King says from all indications the bank is fulfilling its mandate to support and stimulate socio-economic growth in the country.

“Ever since it was re-established in September 2008 the Saint Lucia Development Bank (SLDB), has been providing financing and technical assistance to promote socio-economic development in Saint Lucia in the areas of agriculture, manufacturing, industry, tourism services, housing and human resource development—specifically through student loans for tertiary education. The response from the public to the re-establishment of the SLDB has been overwhelming,” the prime minister said.

The Saint Lucia Development Bank (SLDB), officially opened its doors to the public on February 22 ,2009.

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