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[真空产品技术] Cheap Stitched Jerseys ” the Finance Minister said.Minister of Agriculture

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发表于 2017-10-12 22:18:11 |显示全部楼层
-commercial banks urged to increase lending to agri sectorGovernment yesterday again tagged small businesses as the engine of growth for Guyana and says that recent amendments to legislations to allow financial institutions tax free concessions are all designed to spur further development.The comments were made yesterday as the Small Business Development Finance Trust Inc (SBDF) held its 7th Annual General Meeting at the Hotel Tower.In the Chairman’s Report read by SBDF’s Director, Mohamed Ali, it was disclosed that organization, a non-profit one which has been involved in micro-enterprise lending since 2002, increased loans in 2009 by over 50 per cent.Current Chairman, Sattaur Gafoor, is out of the country on business, Ali disclosed.While 540 loans were issued in 2008, this increased significantly last year to 652.“The total value of loans disbursed was $214.1 million against $147.2 million in 2008. Some 1,660 jobs were created in 2009 against 1,NFL Jerseys Supply,300 in 2008.”It was revealed that the SBDF in its developmental loans portfolio, disbursed $155M last year against the $74M in 2008.SBDF also increased its number of consumer loans to repairs to buildings, computer purchases and stoves, among other things, to $12M worth on loans last year,Cheap Jerseys Online, up from $6M the previous year.However, last year, micro-loans lending demands dropped to $11.6M as against the $13.3M the previous year.In the housing sector, the company was able to assist 39 families who did not qualify for loans at financial institutions. “A total of $17.6M against $7.6M in 2008 was provided; an increase of 141%.”Last year, the SBDF saw its revenues moving to almost $39M from $23M the previous year,Wholesale NFL Jerseys, thanks mostly to the increase in loan activities, growth in loan portfolios and the actual value of the loans.The World Bank’s International Finance Corporation, a revolving line from Republic Bank, Employees’ Retention Fund from Gafson’s Industries and the Ministry of Agriculture all helped to infuse more funds.Last year, SCBF also hired 12 more staffers, including Loans Officers,Cheap Jerseys Free Shipping, Credit and Accounting employees.Between 2002 and 2009,Cheap Jerseys Online, just over 4,900 loans were issued, creating over 8,800 jobs. This year,Cheap Jerseys From China Outlet, SBDF intends to further its capital base from an IFC loan, part of which was drawn down in 2009. It is the intention to issue almost 900 loans this year, also, Ali said. This will be coupled by more branches to better serve Regions Three, Five and Six.According to Minister within the Ministry of Finance, Jennifer Webster, the very existence of SBDF is testimony to government’s commitment in promoting the climate for small business entities.She pointed to a number of micro-financial facilities now available to Lindeners as examples of a safe micro-credit environment.Government has also transferred $385M to the Institute for Private Enterprise (IPED) towards the continued access to small business financing.The Fiscal Amendment Bill which reduces the tax on profits acquired by lending agencies through loans, was also passed in the National Assembly, further underscoring a dedication to the existence of small businesses.The recent Women of Worth (WOW) programme which allows particularly single parents to access financing for entrepreneurial development and facilitates low income earners are among the many initiatives of government.”Since its establishment in 2002, the Small Business Development Finance has proven to be a success story,” Webster said.Mr Webster said that the entity must be applauded for its efforts to support Guyanese in reducing poverty and increasing the standard of living.“There remains a need for institutions like the SBDF since they are a critical partner in government’s developmental agenda,” the Finance Minister said.Minister of Agriculture, Robert Persaud, noted that there is growing confidence across Guyana but noted that commercial banks seem averse to lending monies for the agricultural sector.With the agricultural sector contributing almost 30 per cent to the Gross Domestic Product, it was a disproportionate figure of just over eight per cent that was lent by commercial banks to the agricultural sector.He disclosed that the government is not just standing by and waiting for things to happen. In addition to recent legislations for micro-enterprise lenders to receive tax breaks, the Minister disclosed that his Ministry is moving to also introduce US$1M facility that will see small and medium scale farmers to tap in funds to help develop projects under the Agricultural Diversification Programme.Prime Minister Samuel Hinds, who delivered the feature address, said that Government has been encouraging the development of small businesses through training of youths and single parents.Government has invested $100,000 on each trainee, aside from a monthly stipend and a $60,000 grant upon graduation, to assist in the launch of a business initiative.He stated that small businesses can counter inclinations of hopelessness and helplessness and encouraged the development of expertise.Hinds said his wish is for entrepreneurs to add value rather than costs, become experts at their trade and those endowed to render assistance towards mechanisation.Some of the business owners were recipients of several awards including the best young entrepreneur, best woman entrepreneur, best innovative entrepreneurs, best growth potential, most progressive entrepreneur and best managed project. Staff members were also honoured for their dedicated and hard work.Several of the SBDF clients and staffers were also recognized for their work in ensuring SBDF is a success story.
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