SLDB Launches Youth Enterprise Equity Fund

The St. Lucia Development Bank marked a significant chapter of its reincarnation with the launch of the Youth Enterprise Equity Fund, as part of its efforts to steer young people into the mainstream of economic and social development in the country. The Youth Enterprise Equity Fund is a source of startup equity for young entrepreneurs who meet the SLDB's criteria for funding.

From the outset, Managing Director, Jean Francois Sonson recognized the challenges facing today's youth and the need to draw them into the economic life of the country. "We think that it's a necessary and calculated risk to help our young people in St. Lucia with all the challenges that they're going through. We need somebody to establish that confidence in our young people and to give them a chance to become involved in the mainstream of our economy" said the SLDB Managing Director.

The YEEF will be administered in partnership with several state agencies such as the OPSR, NIC, National Skills Development Centre and other investors. Chairman of YEEF's Board of Directors, Anthony Bousquet, pledged to partner with local schools and other learning institutions to develop the program.

Source: Caribbean Business Report