Credit Union to boost economic development
Published:Monday | June 30, 2008 | 11:04 AM
Prime Minister Bruce Golding said the government is looking to the local Credit Union Movement as a vehicle for economic development in the country.
He said with the focus now on small business development as a means of new job creation, the government intents to utilise the services of the credit union in this important area of development.
The Prime Minister was speaking yesterday at the official opening of the 51st annual convention of the Caribbean Confederation of Credit Union at Sunset Jamaica Grande in Ocho Rios, St. Ann.
During his budget presentation in April, Mr. Golding announced that $2 billion has been set aside to support small business development.
Mr. Golding said the Credit Union would be asked to assist in the disbursement of these funds, to avoid beneficiaries the headaches and bureaucracy usually associated in accessing these type of loan.
He said the credit union has demonstrated its capability in providing small loan financing and must be allowed to do more of the good work it has been doing.