The Ministry of Economic Development and Trade has announced the completion of arrangements for the USD6.5 million women's loan scheme outlined in the administrations Week-14 Roadmap. The application process for the loans will be opened soon.
Speaking to PSM News, Minister of State for Economic Development and Trade Hussain Zamir underscored that a central objective outlined in the Week-14 Roadmap, with a specific focus on business and the economy, is the introduction of a USD6.5 million loan scheme. He said that the initiative is designed to empower women, enabling them to launch and improve their entrepreneurial endeavors.
Additionally, Minister Zamir stated that the disbursement of the loan will adhere to a distinct set of rules. As such, he said that that the scheme will initially be introduced to specific sectors before gradually expanding to include all women engaged in business. He also said that businesses deemed most beneficial or predominantly owned by women will be given special priority.
Furthermore, Minister Zamir highlighted the strengthening of leasing finance regulations, ensuring that every woman involved in business can procure necessary resources for their enterprise from wherever they deem fit.