SMALL Business Development Finance Trust has entered into an agreement with the International Finance Corporation (IFC), to access a US$300,000 grant for a two-year project.

Managing Director of the Trust, Mrs. Manjula Brijmohan said the money will be used to prepare the agency for absolute transparency and better governance to facilitate developing the micro and small sectors.

“Micro and small sectors are key to fair and equitable development,” she said, noting that this is an opportunity to move the entity to a higher level.

The Trust is a non-profit establishment inaugurated in 2002, with the aim of promoting socio-economic development for the poor, indigenous, women and others who are left out of the process.

It offers micro, housing, consumer and development loans and Brijmohan explained that it aspires to become a micro finance institution, built on trust, strengthened by knowledge and technology, governed by transparency and committed to development.

IFC Investment Manager for the Caribbean and Latin America, Mr. Adel Meer, acknowledged that, said his organisation is changing by placing more focus on small scale development.

He explained that, in previous years, IFC worked with large infrastructural development projects but is presently looking at small and strategic investments that make a difference.

In that context, Meer said a step by step approach is being taken with the Trust, through which utilisation of the funding and the results will be analysed and the strategy changed, if necessary, to build a strong foundation for development.

He observed that Guyana’s environment is unique and, while there will be limitations, great opportunities to be exploited exist.

Meer said the general idea is to move the micro and small sectors up in the right direction.

He advised interested individuals that IFC is looking for business that fits into its overall policy.