31 Dec 2004

Marshall Islands looking at small loans scheme for entrepreneurs

11:27 am on 31 December 2004

Marshall Islands and Taiwanese officials are discussing the possibility of establishing a small-scale loan program to offer seed funding to entrepreneurs on isolated islands in the Marshalls

During a visit to Taiwan earlier this month, President Kessai Note held discussions with officials at the International Cooperation and Development Foundation in Taiwan on several issues, including the possibility of a small loan scheme.

The Marshalls' foreign minister, Gerald Zakios, says money from such a fund could be used for fisheries, agriculture and copra development.

He says the programme would have funds that could be loaned to individuals who couldn't get loans from commercial banks because they lacked collateral, but need funding to expand a business operation.