NIS shores up fisherfolk

In the upcoming months, more fishermen and women are expected to be taking to the waters around St. Vincent and the Grenadines.

That is, if they take advantage of the new financial service being made available to them.{{more}}

Last week Thursday, the National Insurance Services (NIS), First St. Vincent Bank (FSVB) and the National Commercial Bank (NCB) joined forces with the Ministry of Agriculture, Forestry and Fisheries, creating a lending programme where funds will be made available to qualifying fisherfolk for the upgrade of their fishing vessels, or the purchase of entirely new vessels.



Representatives of the various institutions, who were assembled at Cabinet Room, were practically beseeching persons to take advantage of the offer, which, according to them, could not only improve the quality of life of fisherfolk, but also the rest of St. Vincent and the Grenadines.

According to Prime Minister Dr. Ralph Gonsalves, the six million dollar funding will be set aside by the NIS to be drawn down by either the NCB or FSVB, depending on which institution the potential borrower approaches.

A borrower will be allowed up to $400,000.

The representatives expressed their willingness to assist the fishing industry, which supplies more than two percent of the country’s income, and stressed the economic growth and development to be derived from the programme.

The funding is also expected to help in training and other aspects.

Prime Minister Dr. Gonsalves spoke of the development of other facilities, such as the building of the fishing complex in Owia and the upgrading of the Bequia facilities. (JJ)