Prime Minister, Brigadier (Ret’d) Mark Phillips presented over $1.7M in equipment to six women of Mocha-Arcadia, to launch a revolving fund for female micro-enterprise owners.
Each recipient is expected to repay 60 percent of the value of their items, with their first installment due two months from today.
Overall, they have a maximum of 18 months to repay the interest-free debt, which will be placed into a revolving fund to provide similar assistance to additional persons.
The Prime Minister said he expects that the beneficiaries will utilise the opportunity to build their businesses and contribute to the development of their communities by turning their micro-businesses into small and medium-sized ventures.
The initiative which is themed “Empowering Women: Improving Village Economies” is expected to be replicated throughout various communities around the country.
