MOU TO BEN­E­FIT LO­CAL BUSI­NESS

The Star (St. Lucia) - - LOCAL - --- J.S.A

AMe­moran­dum of Un­der­stand­ing was signed on July 25, 2018 by the St. Lu­cia De­vel­op­ment Bank (SLDB) and Ex­port Saint Lu­cia (ESL), for­merly known as the Trade Ex­port Pro­mo­tion Agency (TEPA). The goal of the MOU is to for­tify the links be­tween the two par­ties and en­hance their re­la­tion­ship in or­der to stim­u­late eco­nomic growth.

The CEO of Ex­port Saint Lu­cia, Ms. Su­nita Daniel, de­scribed the day as "a mo­men­tous oc­ca­sion that sym­bol­izes the strength­en­ing of two or­gan­i­sa­tions; two or­gan­i­sa­tions whose work pro­grammes cen­tre around the sus­tain­abil­ity and growth of Saint Lu­cia’s busi­ness com­mu­nity, par­tic­u­larly small and medium-sized en­ter­prises”.

Ms. Daniel ex­plained that the agree­ment will be a plat­form to build ad­di­tional re­la­tion­ships, ex­change ideas and trans­fer tech­ni­cal knowl­edge. She said, “It will al­low us to col­lab­o­rate on projects where our agency skill- set can jointly aid our clients to­wards the re­al­iza­tion of their goals.”

Ms. Daniel stated that ESL and SLDB will fa­cil­i­tate cor­po­ra­tion among en­trepreneurs, sub­mit rec­om­men­da­tions for fi­nan­cial as­sis­tance, and pro­vide strate­gic ad­vice and so­lu­tions re­gard­ing busi­ness fi­nanc­ing, ex­port de­vel­op­ment and other busi­ness mat­ters.

Mr. Vincent Boland, the SLDB’s Man­ag­ing Direc­tor, is con­fi­dent this ven­ture will al­low en­trepreneurs, es­pe­cially young ones, to ex­pand their busi­ness. ESL, he said, “has demon­strated their ca­pac­ity to go in-depth into com­pa­nies and iden­tify the weak­nesses and ar­eas of op­por­tu­ni­ties. Now, with fi­nanc­ing from the SLDB, we will be able to see them come to fruition.”

Mr. Boland added: “We are look­ing to set up pro­fes­sion­als that peo­ple can come to de­velop their busi­ness, so that we can hold their hand and get them to where they want to be. I think this is the right op­por­tu­nity for us to come to­gether and grow.” He dis­closed that the SLDB also in­tends to de­velop more MOUs with other part­ners, in­clud­ing In­vest Saint Lu­cia.

Ms. Su­nita Daniel, CEO of Ex­port Saint Lu­cia (left) and Mr. Vincent Boland, Man­ag­ing Direc­tor of the St. Lu­cia De­vel­op­ment Bank at this week’s sign­ing.

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