Home / Knowledge / News / Textiles / Dominican govt finances women's body for textile mill
Dominican govt finances women's body for textile mill
02
Aug '13
The Government of the Dominican Republic has announced establishment of a textile industry for a women entrepreneur’s group in the community of The Port of San Pedro de Marcoris.
 
Luisa Isabel Sanchez, president of the Association of Women in Development of the Port of San Pedro de Macoris, received the first disbursement of over 3 million pesos, a loan through the Special Fund for Agricultural Development (FEDA) by the government.
 
The textile factory to be installed would require a total investment of 9 million pesos which would be disbursed by the FEDA.
 
In addition to handing over resources for the establishment of the textile factory, the Government has also financed 15.882 million pesos to the women entrepreneurs in Sabana Grande de Palenque as well as the farmers and agribusiness entrepreneurs in San Cristobal. 
 
These credits are financed by FEDA, and correspond to the earlier commitments made by the President of Dominican Republic, Danilo Medina, during his visits to these places.
 
Ms. Sanchez said she acknowledged the aid by the Government to the women entrepreneurs, and the installation of the textile factory would create dozens of jobs for the women in the community. 
 
The beneficiaries receiving the resources include textiles and agricultural associations, on the interest of President Medina to improve the conditions of these sectors. 
 
The loans would have to be repaid at only 5 percent rate of interest, and as per periods mentioned in individual contracts.
 
The directors of the group that received the credits have pledged to put it to the best use and make payments on schedule as laid in the contracts made between the associations and FEDA.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 26th Apr 2017

Kering's consolidated revenue growth rises 31.2% in Q1

The consolidated revenue growth for luxury group Kering for the first ...

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Textiles | On 26th Apr 2017

Gap, Athleta to increase use of sustainable fibres

Gap, one of the world's most iconic apparel and accessories brand and ...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search