The Kalinago Development Fund is experiencing strong demand from residents of the Kalinago Territory, according to Parliamentary Representative Cozier Frederick.
Speaking on the programme, Frederick said the fund was created to address long-standing barriers faced by residents who are unable to access traditional loans due to land tenure arrangements. The facility, administered through the AID Bank, provides financing at a two percent interest rate.
He revealed that the fund is currently oversubscribed, with residents using loans for home improvements, education, healthcare, and small business development. Several beneficiaries, he noted, are expanding existing enterprises and investing in long-term stability.
Frederick explained that while the government secures the loans, applicants must still meet standard banking requirements, including business plans and repayment strategies. He emphasised that the programme is designed to encourage responsibility alongside opportunity.
The government has committed EC$1 million annually to the fund, with additional disbursements expected during the financial year. Frederick described the initiative as a critical tool for empowering young professionals and advancing community development within the Territory.
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