Summary

In October 2009, the Caribbean Development Bank approved a loan in the amount of USD20 million (mn) to Bank of St. Lucia Ltd (BOSL) to assist in providing finance to the productive sectors, including loans to small and medium-sized enterprises (SMEs) and student loans. The main objectives of the project were to increase the availability of medium and long-term credit for financing technically and economically viable Agricultural and Industrial Credit (AIC) projects, in the agriculture and fishing industry, service and tourism sectors; and strengthen St. Lucia’s human resource capacity, through the provision of Student Loan Scheme (SLS) funding for tertiary level training and skills upgrading at the technical, vocational and professional levels.