Dominica Youth Business Trust gets $1 Million to address issues of Youth Development on Island

Photo: GIS News

​The Government of Dominica this week reportedly injected a substantial amount of money into addressing the issue of youth unemployment on island.
 
On Wednesday, Youth Minister Justina Charles, presented a cheque of $1Million to Dominica Youth Business Trust Chairperson Josephine Dechausay -Titre.
 
The Dominica Youth Business trust which was established in 2004, is said to be helping young people to establish sustainable small businesses, by facilitating access to financing.
 
The trust provides collateral of up to $20,000 to young people to secure loans for small business ventures.
 
During the presentation ceremony, Charles said youth employment and its impact on the development of any country, has become a growing global concern.

​Minister for Youth Justina Charles
 
Of the 1million dollars, $90,000 will go towards training, $48,000 towards supporting already established businesses needing assistance, $16,000 will go towards mentorship training, and $46,000 will go towards one-on-one consultancies for the entrepreneurs.
 
The balance of $800,000 will go towards guaranteeing loans.
 
Chairperson of the Dominica Youth Business Trust Josephine Dechausay-Titre, encouraged young persons to put the resources to good use.

​Dominica Youth Business Trust Chairperson Josephine Dechausay-Titre
 
Government says the $1M investment has been made available through the citizenship by investment (CBI) program.