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Haiti - FLASH : 2 billion credit for young entrepreneurs
24/01/2020 08:04:57

Haiti - FLASH : 2 billion credit for young entrepreneurs
Thursday, January 23 at the National Palace, President Jovenel Moïse launched the 2nd phase of the Youth Entrepreneurship Support Program (PAPEJ), with the aim of helping young people to start their small businesses.

Next June, following a national business plan competition, PAPEJ will select 1,000 companies that will be able to benefit from preferential financing under the Youth Credit program of PAPEJ.

In addition, the young entrepreneurs selected will receive training on leadership, entrepreneurship and management, among other things...

During this year, around 2,000 companies will be financed by the National Old Age Insurance Office (ONA), at a preferential rate of 12% per year for a total amount of 2 billion Gourdes which will be guaranteed by the State in the next budget to protect ONA funds which are the contributions of Haitian workers.

In December 2020, 1,000 other companies will be selected following a second national business plan competition.

Recall that 2 years ago President Moïse, had launched the PAPEJ, https://www.haitilibre.com/en/news-25790-haiti-politic-moise-launches-the-youth-entrepreneurship-support-program.html a way to allow young people to start their own businesses and give others, jobs, in the communities where they live. Already nearly 150 young entrepreneurs have benefited from PAPEJ loans https://www.haitilibre.com/en/news-29343-haiti-economy-ona-grants-prime-loans-to-young-entrepreneurs.html https://www.haitilibre.com/en/news-29211-haiti-economy-delivery-of-checks-to-50-young-entrepreneurs.html co-funded by ONA and the Industrial Development Fund (FDI).

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