St Kitts and Nevis to kick-start Women’s Empowerment Guarantee Project

St Kitts and Nevis: The government has joined the league of other Caribbean countries to kick-start the Women’s Empowerment Guarantee Project in the Federation of St Kits and Nevis on Wednesday, March 30, 2022. 

The start of the Project aims to support countries in Latin America and the Caribbean in maintaining social stability by enlarging and enhancing women’s economic empowerment and boosting the country’s economy after the deadly effect of the COVID-19 pandemic.  

Outlining various aspects of the Project, Minister of Social Development and Gender Affairs Eugene Hamilton noted,” The commencement of entrepreneurial training for women has encouraged us to start the journey of entrepreneurial funding for Micro, Small, and Medium Enterprises (MSMEs). The Taiwanese fund it.”

He highlighted this during the virtual signing ceremony held at the National ICT Centre and stated that for the three cohorts in St Kitts, a total of 120 people had been signed up. 

However, a few people could have dropped out, and a total of 100 completed the programme and got the benefits from both training and financing after covering such areas in business ideas, food and beverage, and beauty care”. 

The Project consisted of two component and categories, which are as follows: 

• Category one: Under this category, the applicant would get the provision of credit guarantees of the target market with the Participating Lenders. It is up to 85 percent of the funds, that is US$4,250,000.
• Category two: This category speaks to support the implementation of the Project, which also costs for the promotion activities of Project and staffing and other costs that are related to the implementation of the Project. It is up to 15 percent of the funds, that is, US$750,000. It could be withdrawn in accordance with Section V, Section 2 of this Agreement.

Minister Hamilton further extended gratitude to the Government of the Republic of China and also expressed his pleasure over the Project that would help in the enhancement of women’s entrepreneurship and capitalize on them. 

Under the particular arrangement, various countries would be covered and participate in the Eastern Caribbean Partial Credit Guarantee Corporation guarantee programme, and they will choose to participate in the Taiwan ICDF programme.