European Union funds EC$38 million Private Sector Development Programme

Small business owners and persons from the public and private sector turned out in their numbers on Monday, for the launching of a Private Sector Development Programme at the Kingstown Methodist Church Hall.

The programme is being funded by the European Union and the government of St. Vincent and the Grenadines in three phases. The first phase to the tune of EC $5 million, phase two, $18 million and the third phase $15 million.{{more}}

According to the Project Manager Kenny Baker, it has been realized that the private sector’s ability to take risks is very weak, causing the EU and this country’s government to set up the programme.

A two-day workshop was conducted by Ian Ivey of the European Development Fund in conjunction with the Ministry of Telecommunications, Science, Technology and Industry in an effort to get participants familiar with the functions of the programme.

At Monday’s launching, addresses were made by Ivey, Minister of Telecommunications Dr Jerrol Thompson, President of the SVG Chamber of Industry and Commerce Martin Bollers, with the feature address delivered by Prime Minister Dr. Ralph Gonsalves.