Taiwan continues development funding in St Lucia

• Grant inflows Republic of China on Taiwan – $43.9M
• Financing: Republic of China on Taiwan EXIM Bank – $2.1M

By Caribbean News Global

TORONTO, Canada – “Actions speak louder than words – embodying the Spirit of Taiwan Model,” The Embassy of the R.O.C.(Taiwan) in Saint Lucia, the Official Facebook Page said Tuesday, April 30, 2024.

The occasion was the cheque presentation for grant funding from the Republic of China, Taiwan, for the Constituency Development Programme (CDP) and the signing of a new Technical Cooperation Agreement between the 臺灣駐聖露西亞技術團 Taiwan Technical Mission in Saint Lucia and the Youth Economy Agency (YEA).

“Approximately $18.5 million has been secured to fund various community projects and will be deposited into the Consolidated Fund. The expected outcome is “to benefit the people of Saint Lucia from all 17 constituencies.” #PhilipCares  “We are always grateful for the continued support from the government and People of Taiwan as we invest in improving the daily lives of Saint Lucians,” said Prime Minister Philip J Pierre. 

What are the projects?

“Community development serves as the cornerstone of national progress. Ambassador Peter Chen is delighted to announce the disbursement of funding for the “Constituency Development Programme (CDP)” to the government of Saint Lucia, aligning with the policy of Prime Minister Pierre.”

Taiwan in Saint Lucia, reports: “It was heartening to witness unanimous praise for the CDP during the recent parliamentary debates, underscoring its impactful nature. We must also recognize the diligent contributions of the officials overseeing this initiative. Taiwan remains committed to collaborating with Prime Minister Pierre and the government of Saint Lucia, fostering sustainable development and prosperity within the communities.”

Delivering the 2024/25 budget address, Prime Minister Pierre said: “Saint Lucia holds its friendship and relationship with the government and the people of the Republic of China (Taiwan) in the highest esteem and will continue to support the Government and People of Taiwan in their struggle to be accorded their rightful place in the international community,” […].

In the estimates of revenue and expenditure for 2024/2025, Taiwan is featured as the major contributor to the Grant inflows – $43.9M. Some of the external borrowings already identified and sourced include the Republic of China on Taiwan EXIM Bank – $2.1M.

Capacity building/training, in the 2024/2025 budget highlighted that: “The Youth Economy Agency (YEA) has 65 entrepreneurs participating in digital marketing training, 165 in the introduction to business planning, 35 in the mentorship programme, and 125 in investment training. From its inception, the YEA has worked closely with the Embassy of the government of China on Taiwan (ROCT), which has provided a grant of $1.2M to the YEA under a Technical Agreement.

At the signing of a new Technical Cooperation Agreement on April 30, 2024, between the 臺灣駐聖露西亞技術團 Taiwan Technical Mission (TTM) in Saint Lucia and the Youth Economy Agency (YEA), under the auspices of the Government of Saint Lucia (GOSL) and the government of the Republic of China (Taiwan), YEA, CEO Bryan Vidal and chief of the TTM, Daniel Lee, signed the agreement expected to provide additional resources for YEA to support the growth and development of young entrepreneurs.

The Youth Economy Agency (YEA) was established by the Youth Economy Act No. 17 of 2022 and launched in November 2022. Its principal objective is to convert hobbies into entrepreneurship and skills into businesses, with the Agency providing access to finance, training and mentorships.

The initial capital of the Agency was provided by the government of Saint Lucia. On June 18, 2023, the board of directors of the Caribbean Development Bank approved a loan to the government of Saint Lucia of EC$16.8M and a Grant of EC$1.25M for the Agency.

“The project involves the provision of financing to youth enterprises in the key economic sectors of agriculture, agro-processing, the blue, green, and orange economy, designing entertainment, modeling, music, sports, literary and performing arts writing and directing training and technology,” the prime minister stated. “As of March 2024, 597 grants, of which 56 percent were females, were disbursed to young people making a total of $2.81M. There are 1,521 applicants in the system for grants, signalling the level of interest among the young people of Saint Lucia. Loan disbursements are expected to commence in 2024 with 409 loan grant applications awaiting processing.”

Taiwan focuses on upskilling St Lucian Athletes

Meanwhile, 50 Saint Lucian athletes will soon benefit from an innovative sporting programme being sponsored by the government of Taiwan in collaboration with the government of Saint Lucia.

The signing of a Technical Cooperation Agreement between the Taiwan Technical Mission (TTM) in Saint Lucia and the National Skills Development Centre (NSDC) was held on Thursday, April 18, at NSDC’s Bisee location promises to be life-changing for the nation’s youth. The Technical Cooperation Agreement covers the Specialized Programs and Opportunities Relating to Technical Skills (SPORTS) and underscores Saint Lucia and Taiwan’s shared commitment to supporting development, prosperity and friendship.

“Sports has always been a powerful vehicle for empowerment, personal development, and social change,” ambassador Chen stated. “However, while natural talent may lay the foundation for success in sports, there are more possibilities and change that can be extended far beyond the realm of sports.”

H.E. Peter Chia-Yen Chen, Taiwan’s ambassador to Saint Lucia, said the agreement signing marked a pivotal moment in Saint Lucia and Taiwan’s journey that will not only enrich the lives of athletes but also empower them to thrive beyond the field or court.

Other Taiwan-funded initiatives in the 2024/2025 budget include:

Housing relief for public servants

Public servants will be entitled to 100 percent residential mortgages under the US$ 20 million Republic of China on Taiwan EXIM Bank’s new credit line facility being managed by the Saint Lucia Development Bank. In addition, the government will assist every successful applicant with a $1000 payment towards their legal cost.

Housing Infrastructure

We have secured financing of a US$20M loan from the Import-Export Bank of the Republic of China on Taiwan (ROCT) for on-lending to Saint Lucians to construct new houses or buy residential lots. A new line of credit will be established at the Saint Lucia Development Bank to manage this new line of credit.

Police training

This government has reinstated the police training vote with $450,000. Several police officers will continue to receive training aboard in the USA, Taiwan, United Kingdom, and the OECS Countries and Jamaica. Seventy recruits will be trained and enlisted this year. In addition to our local law enforcement, we have drawn on the support and services of international partners like the USA, UK, and Republic of China on Taiwan.

@GlobalCaribbean