The Government of Saint Lucia has outlined recent strides in strengthening the foundation for sustained economic growth and wealth creation in Saint Lucia.
In March 2023, the Ministry of Commerce and the Saint Lucia Development Bank officially launched the MSME Loan Grant Facility. The MSME Loan Grant Facility opens access to $10 million to finance the startup, operations, and expansion of more than 450 Saint Lucian-based MSMEs.
By October 2023, 180 MSMEs received approval. The MSME Loan Grant Facility has paid out $1.9 million to the approved MSMEs.
Successful applicants are guaranteed a grant of 70% with a loan component of 30% at only 3% interest.
• $10,000 for startups and new MSMEs
• $20,000 for MSMEs in operation for less than two years
• $25,000 for MSMEs operating for more than two years
Since March, the Youth Economy Agency has disbursed $1.3 million to 275 recipients and has funded 189 projects.
The Government of Saint Lucia recently partnered with the Caribbean Development Bank to secure funding for the aspirations of our nation’s youth and future business leaders.
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