(Cabinet Notes) The Cabinet approved and ratified eight decisions by the Entrepreneurial Development Fund (EDF) to support projects put forward by the Fund administrators, amounting to more than $300,000 this past week.
The Fund was established before Covid-19 and provided with $5,000,000 to lend or for Joint Venture participation by the newly-created Programme.
The intent is to ensure that entrepreneurs who wish to proceed with small enterprises, but may be short on capital, will be able to access funding sufficient to keep their enterprise functioning, or to start-up a new enterprise.
Buy-and-sell operations do not qualify under the terms of the EDF; the enterprises are required to add value to the goods or services which are being provided to customers.
Agri-processing of plantain chips, to include bagging and delivery systems, is one such example of a project receiving support.
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