During the High-level Closing Ceremony of the SIDS Global Business Network (GBN) Forum 2024 in Antigua and Barbuda, President Dr. Mohamed Muizzu announced the launch of a $6.5 million loan facility aimed at supporting women entrepreneurs. Notably, 25% of this fund will be allocated specifically to women with disabilities.
In his address, President Muizzu made three key calls for action. Firstly, he highlighted the need to boost investments in micro, small, and medium enterprises (MSMEs) and young entrepreneurs. He stressed the importance of facilitating easier cross-border trade, protecting intellectual property rights, and fostering a regulatory environment conducive to investment, innovation, entrepreneurship, and sustainable development.
The President also underscored the significance of inclusivity and empowering local communities to strengthen connections between businesses and governments. He emphasized that this collaboration is crucial for achieving common objectives such as infrastructure development and disaster risk reduction, especially in Small Island Developing States (SIDS) where geographic dispersion is a challenge.
Additionally, President Muizzu called for platforms to foster partnerships and share experiences. He pointed out that one of the biggest challenges SIDS face is limited access to affordable financing for development. This restriction hampers economic growth and sustainability, given SIDS' small markets, limited creditworthiness, and susceptibility to debt distress.
He further encouraged ongoing dialogue between businesses and government agencies to create engagement platforms for knowledge sharing and partnership development. He urged financial institutions, including banks and multilateral entities, to prioritize making finance more accessible, affordable, and tailored to the needs of the private sector.
Concluding his speech, President Muizzu stressed that achieving the Antigua and Barbuda Agenda for SIDS necessitates strong partnerships between SIDS governments and the private sector. This collaboration is essential to realize resilient and inclusive prosperity for all.
The event was organized by the Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries, and Small Island Developing States (OHRLLS).
In his address, President Muizzu made three key calls for action. Firstly, he highlighted the need to boost investments in micro, small, and medium enterprises (MSMEs) and young entrepreneurs. He stressed the importance of facilitating easier cross-border trade, protecting intellectual property rights, and fostering a regulatory environment conducive to investment, innovation, entrepreneurship, and sustainable development.
The President also underscored the significance of inclusivity and empowering local communities to strengthen connections between businesses and governments. He emphasized that this collaboration is crucial for achieving common objectives such as infrastructure development and disaster risk reduction, especially in Small Island Developing States (SIDS) where geographic dispersion is a challenge.
Additionally, President Muizzu called for platforms to foster partnerships and share experiences. He pointed out that one of the biggest challenges SIDS face is limited access to affordable financing for development. This restriction hampers economic growth and sustainability, given SIDS' small markets, limited creditworthiness, and susceptibility to debt distress.
He further encouraged ongoing dialogue between businesses and government agencies to create engagement platforms for knowledge sharing and partnership development. He urged financial institutions, including banks and multilateral entities, to prioritize making finance more accessible, affordable, and tailored to the needs of the private sector.
Concluding his speech, President Muizzu stressed that achieving the Antigua and Barbuda Agenda for SIDS necessitates strong partnerships between SIDS governments and the private sector. This collaboration is essential to realize resilient and inclusive prosperity for all.
The event was organized by the Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries, and Small Island Developing States (OHRLLS).
