In presenting the 2019 National Budget speech to well over 300 persons in attendance, Prime Minister Gaston Browne stated that his government wants to help create many more entrepreneurs in Antigua and Barbuda.
PM Browne said that his government recognizes that many persons who may want to enter the entrepreneurial world does not lack the basic knowledge, but often times, they do not have access to the capital and knowledge of sound financial and management techniques. This, the Prime Minister said, his government wants to correct.
The effort to create this avenue was announced in the 2018 national budget plan dubbed the “Prime Minister’s Entrepreneurial Development Programme (EDP), which will seek to provide access to funds and training for any citizen who presents a viable business plan.
“In the first quarter of this year, the EDP will be launched with an initial $10 million provided by the government. The ultimate aim is a Revolving Fund endowed with $24 million to provide low-interest loans for working capital, machinery, and equipment, leasehold improvements, among other things.” Prime Minister Browne announced in his 2019 Budget Presentation.
PM Browne went further to declare that Global Ports is committed to providing $13.5 million to fund entrepreneurship in the tourism sector as part of their involvement in our country’s economic activity.
The Prime Minister also indicated that: “The EDP will be complemented by the Eastern Caribbean Partial Credit Guarantee Corporation, which will also work with banks and other financial institutions to increase the flow of credit to micro, small and medium-sized businesses in the ECCU member territories.”
PM Browne continued: “Our Government is determined to give the people of our nation the opportunity to do the same, without regard to race or religion, gender, nationality, or background. We are building One strong nation, One prosperous people, One resilient future.”