Millions of dollars were loaned to entrepreneurs to support them and help create more job opportunities in Barbados last year.
Chairman of the Barbados Agency for Micro Enterprise Development Ltd. (FundAccess), David Simpson reported this as he reviewed the work of the organisation that provides a range of financial solutions to young businesses.
Mr. Simpson admitted that the COVID-19 pandemic affected loan repayments and the delinquency rate skyrocketed.
However, as of December 2022, statistics showed that many businesses were recovering as the business sector fully reopened and COVID-19 restrictions were removed.
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