BELfund Leads Initiatives to Decrease Unemployment and Support Entrepreneurs

Minister Joachim Henry Leads Inclusive Loan Initiative to Combat Unemployment in Saint Lucia

Minister for Equity, Social Justice, and Empowerment Joachim Henry is spearheading a groundbreaking initiative to promote inclusivity in the granting of loans by BELfund, aimed at empowering marginalized Saint Lucians and fostering small business development to address unemployment on the island.

Under his leadership, the 20-year-old James Belgrave Micro Enterprise Development Fund (BELfund) is undergoing a transformation to better serve the needs of the local community. Minister Henry emphasized the institution’s commitment to innovation in tackling Saint Lucia’s unemployment challenges and supporting the growth of small and micro-enterprises.

BELfund is now offering financial support of up to $30,000 with a flexible payment plan to help individuals realize their dreams and ambitions. Minister Henry highlighted the institution’s dedication to providing opportunities for those who may not have readily available capital or assets for collateral, expanding support to under-employed individuals and prospective entrepreneurs who meet loan eligibility criteria.

To reach a wider audience, BELfund has launched community outreach programs and on-the-spot interviews to simplify the application process for the unemployed, self-employed, and underemployed individuals. The institution’s inclusive approach welcomes businesses from various sectors, including service, trade, retail, distribution, manufacturing, tourism, agriculture, and more, demonstrating a commitment to fostering a diverse and prosperous business environment for the underprivileged and vulnerable population in Saint Lucia.

Minister Joachim Henry’s vision for BELfund signals a new era of empowerment and economic growth for traditionally marginalized individuals in Saint Lucia, paving the way for a more inclusive and thriving business landscape on the island.