The
Foundation for National Development (St. Kitts-Nevis) Limited
(FND) celebrated its fifteenth anniversary in March last year,
being incorporated on January 30th 1985.
Over 100 clients celebrated this milestone at an Awards Dinner,
where outstanding clients over the years were presented with
Awards and Companies who had continuously supported the efforts
of the FND were also recognized.
The Foundation concept dates back some forty years to the United
States Alliance for progress development initiative designed
specifically to provide non-traditional funding and training
support for small sector activity (including farming) in underdeveloped
countries and the Americas, including the Caribbean and Central
America.
The concept is to complement funding support by traditional
institutions such as commercial banks, credit unions and development
banks, not to compete with these institutions. The concept was
based on and continues to be on tripartite participation in
national development process by the total private sector (formal
and informal sectors), the government and the international
funding community.
In 1985, the Foundation received grand funding from USAID and
CIDA for its establishment as well as its credit and counseling
programs. Government supported the establishment by giving $10,000.00
and duty free status on imported Office equipment. Various business
houses and church organizations in St. Kitts also donated cash
and services to a value of over $40,000.00.
The FND benefited from significant amounts of cash in the form
of grants between the years 1985 to 1994. The donors included
USAID’s Small Enterprise Assistance Program, the Inter-American
Foundation (IAF), the Pan American Development Foundation (PADF),
the Cooperation for Development organization (CODEV), CIDA’s
Small Project Implementation Facility (CIDA/SPIF) and Foundation
for International Training (FIT). However, since 1994, international
donor funds have become increasingly scarce.
The Foundation, motivated by its achievement over the years,
continues to look for donors and soft loans to support its development
programs with a view to reducing poverty and encouraging self-empowerment
through small business development in the Federation of St.
Kitts and Nevis.
The
Foundation is seeking funding for its various programs, which include:
The Revolving
Loan Fund (read about a soft loan provided by Taiwan)
Justification for
your support of the Foundation can be based on a summary of the FND’s
socio-economic impact. For the past sixteen years the FND has redistributed
in excess of $23 EC million in loans to over 2800 micro and small
entrepreneurs throughout St. Kitts and Nevis and has provided field
supervision and entrepreneurial training to over 1500 enterprises.
The FND loan portfolio now stands at $3.5 million EC distributed among
340 clients.
The growing interest of students and youth in working for and owning
small and micro enterprises is the result of FND’s persistent advocacy
and performance. Its impact on the quality of life, knowledge and
self-confidence of ordinary citizens is therefore undisputed.
I close by asking you to visit all areas of this our newly established
website, which is intended make information about our activities available
to you on an on-going basis. Please do not hesitate to contact me
at anytime if you require further information.
