President Luis Abinader and Youth Minister Rafael de Jesus Féliz García announced yesterday the start of the new young people entrepreneurship program. The Abinader administration allocated RD$1.9 billion for the Entrepreneurship Laboratory (Programa Laboratorio de Emprendimiento). The program makes available loans starting at 5% interest rate, with applications for these open from 19 May to 1 July 2022 at the government’s Banreservas, Bandex, the National Council for the Promotion and Support of Micro, Small and Medium Enterprises (Promipyme) and the Special Fund for Agricultural Development (FEDA), with annual rates starting a 5%. The announcement was made at an event held at the Ministry of Foreign Relations auditorium.
The Ministry of Youth is the coordinator of the program that is part of the First Youth Employment Policies. The purpose is to finance sustainable projects for young people with the desire to excel.
The call for entrepreneurs is from 19 May to 1 July and can be accessed through a form on the website of the Ministry of Youth.
The purpose of this project is to offer support to young Dominican entrepreneurs in technical, financial and legal matters so that they can promote and strengthen their business ideas and access credit, said Minister Féliz.
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Ministry of Youth
Diario Libre
19 May 2022