11 Jul 2007

Taiwan sets up community fund for Marshall Islands

2:46 pm on 11 July 2007

Taiwan is extending a small loans programme in the Marshall Islands to include a community revolving fund.

It has already funded a micro-credit scheme, where individuals can apply for small loans to get businesses going, and is now setting up a community loans programme.

The Taiwanese ambassador in Majuro, Bruce Linghu, says the new fund, which will be operated by the Development Bank of the Marshall Islands, will allow communities to apply for loans for projects intended to improve their standards of living.

He says this can mean anything from playgrounds to local community centres to lighting for basketball courts.

"This basically is for the outer islands. The local governments of the outer islands, if they come out with a good project, whatever, improving community living standards, that would be acceptable."

Bruce Linghu, Taiwan's ambassador to the Marshall Islands.