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Senator Phipps endorses Eastern Caribbean Partial Credit Guarantee (Corporation) Agreement Bill 2017
June 30, 2017

Minister of State with responsibility for Community Development et al., Senator the Hon. Wendy Phipps, gave her support to the Eastern Caribbean Partial Credit Guarantee (Corporation) Agreement Bill 2017, which was passed at a sitting of the National Assembly held on Wednesday 28th June.

While outlining agencies such as the World Bank, Senator Phipps stated that partial credit guarantee programmes have been around since the late 19th century and early 20th century.

According to the Minister, small and medium size enterprises (SMEs) have a difficult time accessing capital and doing so at a reasonable interest rate.

As a result, “for us to now come to the point in the OECS sub-region to be part of that mix (regarding the bill), it is a step in the right direction,” she said.

Because of SMEs lacking the appropriate funding needed for sustainable growth, this prompted credit guarantee programmes to be instituted around the Caribbean, to be a sort of stimulus for growth.


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