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Fund to stimulate production set up

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Production Credit Fund (PKF) was launched on Friday. This broadens the financing options for entrepreneurs. President Chan Santokhi has activated the PKF website on this occasion with one click. The launch took place at the National Development Bank of Suriname N.V. (NOB).

The PKF was established to stimulate production as well as export promotion and import substitution. This with a view to strengthening the competitive position and earning capacity of companies. SRD 100 million has already been invested in the PKF, and concessional loans will be offered to entrepreneurs at an interest rate of 5% per year.

The loans will be provided through the NOB. The Development Bank is designated by law as the manager of this fund as it is the government’s institution to promote development. Those who want to do business can also receive the necessary training and guidance from the NOB, reports the Communication Service Suriname. If necessary, the fund will be supplemented by the government as needed.

During his speech, President Santokhi emphasized the importance of increasing production in Suriname. He indicates that the government is aware that small and medium-sized enterprises must be encouraged to take up production. “Various steps have therefore been taken to stimulate Suriname’s economic growth”. The head of state refers to access to cheap capital for farmers through the National Development Fund for Agri-business (NOFA) and the restart of the Private Sector Technical Assistance Fund.

 

 

 

 

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