The government has unveiled a USD 6.5 million loan facility aimed at empowering female entrepreneurs, with a quarter of the funds reserved for women with disabilities.

President Dr. Mohamed Muizzu announced this initiative during his address at the High-level Closing Ceremony of the SIDS Global Business Network (GBN) Forum 2024 in Antigua and Barbuda on Monday.

In his speech, President Muizzu underscored three key actions to drive economic growth in Small Island Developing States (SIDS).

He called for increased investment in micro, small, and medium enterprises (MSMEs) and young entrepreneurs, streamlined cross-border trade, and robust protection of intellectual property rights.

He emphasized creating a regulatory environment conducive to investment, innovation, entrepreneurship, and sustainable development.

The President highlighted the importance of inclusivity, urging for the empowerment of local communities to foster better connectivity between businesses and governments.

This connection, he noted, is vital for leveraging strengths in both sectors to achieve shared goals, particularly in dispersed island nations.

Addressing the financial challenges faced by SIDS, President Muizzu stressed the need for accessible and affordable financing.

He called on banks, multilateral institutions, and other financial entities to make finance more available and tailored to the needs of the private sector.

In conclusion, President Muizzu emphasized the significance of public-private partnerships in achieving resilient and inclusive prosperity, aligning with the goals outlined in the Antigua and Barbuda Agenda for SIDS.