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Nine Years: Northern Development Invests $16 Million In Small Business

  The Northern Development Programme (NDP) has spent a total of $16 million on 1994 small businesses in the North over the past nine years. And as they embark on
28 Jan 2017 12:00
Nine Years: Northern Development  Invests $16 Million In Small Business
Participants at the Northern Divisional Youth Conference. Photo: JOSAIA RALAGO

 

The Northern Development Programme (NDP) has spent a total of $16 million on 1994 small businesses in the North over the past nine years.

And as they embark on their 10th year of operation, NDP continues to urge members of the public in the North to venture into worthwhile businesses so the Northern economy could thrive.

Speaking at the Northern Divisional Youth Conference, the NDP manager Waisale Tuidama said people in the North were fortunate that there was such a program for them.

“We have started business in January 2008 and up until December last year, was our ninth year,” Mr Tuidama said.

“In summary we have funded 1994 projects and have provided a total of $16 million to the Northern economy,” Mr Tuidama said.

“Out of this, $7.5 million is made up of grants which the Government has invested in these businesess and they do not have to pay back anything.

“The loan component on the other hand is $8.5 million.”

He said in terms of the distribution of funds in the provinces, Macuata received $8.5 million, $4.2 million for Cakaudrove and Bua received $3.3 million.

Mr Tuidama added those projects had created 6979 employment for the North.

“These investments have multiplier effects for the Northern economy, so roughly there’s about $40 million circulating from these investments.

“About 34,895 has benefited from these small projects which makes up about 25 per cent of the Northern population.”

Mr Tuidama said his officers closely monitored the projects they invested in and would even visit people in outer islands.

He urged more than 150 youth leaders present at the conference held at the Labasa Civic Centre yesterday to apply and make use of the opportunity.

Edited by: Ivamere Nataro

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