By Robert Hart, Parliamentary ReporterTHE GOVERNMENT has projected that about 3,000 new jobs will be created in the micro-business sector when $200 million is pumped into the industry through the Micro Investment Development Agency (MIDA) this year.
At the same time, Aloun Assamba, the Minister of Industry and Tourism, has indicated that 17,150 new jobs were created in 2003 as a result of Government's policies and programmes, coupled with private sector initiatives.
"That's an increase of 30.3 per cent compared with year 2002," the Minister said while making her contribution to the 2004/2005 Budget debate at Gordon House last Wednesday.
ISLANDWIDE NETWORK
Ms. Assamba revealed that the $200 million Government investment will be provided in credit funds to the sector through MIDA's islandwide network of 16 community development funds.
"This will finance approximately 2,080 micro businesses with an average loan size of just over $96,000," she said. According to her, "these businesses will sustain and create 2,920 full and part-time jobs".
MIDA was founded in 1991 to provide a focused approach to the development of the micro-enterprise sector. This it has sought to do by providing or seeing to the critical inputs necessary for the growth and sustainability of the sector.
