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

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Abhishek Ganguly
Puma India

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

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

news category


Related Categories:
July 2017

July 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