{"id":338425,"date":"2025-03-15T08:30:12","date_gmt":"2025-03-15T12:30:12","guid":{"rendered":"https:\/\/dominicanewsonline.com\/news\/?p=338425"},"modified":"2025-03-14T23:00:27","modified_gmt":"2025-03-15T03:00:27","slug":"aid-bank-addresses-needs-of-the-socially-vulnerable-says-chairman","status":"publish","type":"post","link":"https:\/\/dominicanewsonline.com\/news\/homepage\/news\/aid-bank-addresses-needs-of-the-socially-vulnerable-says-chairman\/","title":{"rendered":"AID Bank addresses needs of the socially vulnerable, says chairman"},"content":{"rendered":"
\"\"
Martin Charles<\/figcaption><\/figure>\n

Chairman of the Dominica Agricultural Industrial and Development Bank (AID Bank), Martin Charles has reported that during the period 2020 to 2024, the bank approved loans totaling 78 million dollars.<\/p>\n

During the Bank\u2019s 31st Annual General Meeting (AGM) this week, Charles explained that the year ending June 30, 2024, marked the end of the bank\u2019s 4-year strategic plan which was themed: \u2018Embracing the Path to a Dynamic and Resilient Dominica\u2019. Furthermore, based on the results for the period it is reasonable to conclude that the bank performed credibly, achieving and even surpassing several targets.<\/p>\n

\u201cConsistent with government\u2019s priority of objectives for sustainable growth and development I can report that during the strategic period 2020 to 2024, the bank approved loans to a total of 78 million. Worthy of mention is the significant impact which a US$10.34 million\u00a0<\/strong>has made to micro, small, and medium-sized enterprises,\u201d he said.<\/p>\n

Charles continued,\u00a0<\/span>\u201cThis facility is being unlet to businesses at an interest rate of 3.5 percent<\/span>.<\/span><\/p>\n

Moreover, he stated that “by the end of June 30, 2024, an amount of EC$22.8 million or 82.1 percent of the amount [had] been committed to businesses in the productive sectors of agriculture, tourism, manufacturing, transportation, and services.\u201d<\/p>\n

He said\u00a0the bank continues to address the needs of the socially vulnerable segment of the population by tailoring loan packages specific to them.<\/p>\n

\u201cWe continue to promote loans to underprivileged students where a maximum of 100,000EC is offered with only one guarantor to pursue tertiary level education at the regional, local, and international institutions,\u201d he stated.<\/p>\n

Charles continued, \u201cSpecial loan packages are also offered to women, the Kalinago community, and the elderly.\u201d<\/p>\n

He believes that the impact of such investments has been seen through the creation of sustainable jobs, \u201cenhanced revenue potential, provision of improved services and a higher standard of living for our citizens.\u201d<\/p>\n

\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Chairman of the Dominica Agricultural Industrial and Development Bank (AID Bank), Martin Charles has reported that during the period 2020 to 2024, the bank approved loans totaling 78 million dollars. 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