US$5M first phase of small business support project for launch in January

By Stabroek News On In Business |
Local manufacturers of agro products like these are well placed to benefit from the multi million dollar small business development project.
Local manufacturers of agro products like these are well placed to benefit from the multi million dollar small business development project.

– poor households, under-skilled communities to get special attention

Stabroek Business has been informed that the first phase of the long-awaited small business support project, officially titled ‘Micro and Small Enterprise Development and Building Alternative Livelihoods for Vulnerable Groups’ will get underway in January next year.

The project, which is being executed by the Ministry of Tourism, Industry and Commerce through the Small Business Bureau (SBB), will oversee the disbursement of US$10 million from the Guyana REDD +Investment Fund (GRIF) to support the countrywide development of small and micro enterprises and to create business options that will provide a livelihood for vulnerable groups.

The source of the GRIF derives from an agreement reached between Guyana and Norway and concretized in a 2009 Memorandum of Understanding under which Guyana would receive financial support of up to US$250 million based on