Kittitians assured of government aid for home construction and small businesses

Prime Minster Dr Denzil Douglas says the Sugar Industry Development Fund will work with the Development Bank of St. Kitts and Nevis to provide help where needed.

BASSETERRE, St Kitts, Wednesday January 11, 2012 - Prime Minster Dr Denzil Douglas has assured residents that funds are available to assist low-income families with home construction and new small businesses.

The money would be drawn from the Sugar Industry Development Fund (SIDF), he said, which was established September 2006 after the sugar industry was closed.

The prime minister said the SIDF would work with the Development Bank of St. Kitts and Nevis to assist low-income, prospective home owners who are unable to make down-payments.

The government has unveiled a building material investment programme that would allow the removal of all duties and customs service charges from up to EC$400,000 (US$148,148) in private-home building supplies purchased this year.

The Kittitian leader said individuals with well-thought out business plans would also receive help.

“Small businesses are the cornerstone of any economy and the Sugar Diversification Foundation will be also be a source of funding for competent, reliable, up-and-coming entrepreneurs,” Dr. Douglas explained.

The prime minister urged laid-off workers to maintain contact with the Labour Department to receive notification of job openings.

“It was precisely in anticipation of these types of developments that my government has put in place the stabilization and stimulus programmes which will generate job opportunities,” he said yesterday.

Last December, Dr Douglas presented an EC$400.9 million (US$148.4 million) budget to Parliament for the 2012 financial year that included measures aimed at stimulating the economy. Click here to receive free news bulletins via email from Caribbean360. (View sample)