Head of the bank’s Business Support Unit, Shavon Douglas, while addressing a town hall meeting on Wednesday night (29th February) organised by the Sandy Point Agricultural Co-operative Society Limited, and held at the Sandy Point Community Centre, informed members who were celebrating the organisation’s second anniversary, that the funds are aimed at improving the country’s food security.
Douglas said, “The St. Kitts and Nevis Sugar Industry Diversification Foundation and the Development Bank of St. Kitts and Nevis (SIDF/DBSKN) Agricultural Fund is used to encourage entrepreneurship among citizens and residents of the Federation.”
The programme, which aims at providing a cheaper source of funding to the food production sector, targets practising farmers, fishers and horticulturists, said an official.
The town hall meeting was also addressed by Minister of Agriculture Dr Timothy Harris, who congratulated the members of the Sandy Point Agricultural Co-operative Society Limited for their sticking together and their ability to deliver. “Indeed I believe this is one of the better organised groups we have in the agricultural sector in terms of people coming together in their mutual interests,” said the Minister.
It was also revealed that amounts up to EC$50,000 provided as loans to fishers and farmers will only attract a 6% interest payment.