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

Pic: GOV.UK

Textiles | On 28th Oct 2021

UK economy not hit as hard by COVID as expected: Chancellor Sunak

Painting a positive picture of the health of the UK economy as it...

Pic: Shutterstock

Textiles | On 28th Oct 2021

China asks US to create conditions to push phase-I of trade deal

China and the US should join hands to create conditions to implement...

Pic: Tiger Lily from Pexels

Textiles | On 28th Oct 2021

Warehouse transformation is in the offing

Manufacturers, contract logistic operators, distributors, retailers,...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry craft and utility

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry with brand ethos

Abdullah Mohammad Saad Hossain,

Abdullah Mohammad Saad Hossain

Saad Group is a leading vertically integrated textile group in Bangladesh. ...

Seema Mishra,

Seema Mishra

Set up in January 2020 by <b>Seema Mishra</b>, the Kasrawad Art Cluster...

Chendhuran Sundar,

Chendhuran Sundar

It manufactures and retails menswear garments in India under the brand...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Shaan Sethi, Jaanuu

Shaan Sethi
Jaanuu

Jaanuu, a vertically integrated e-commerce company, has reimagined the...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Raghavendra Rathore, Label Raghavendra Rathore Jodhpur

Raghavendra Rathore
Label Raghavendra Rathore Jodhpur

Being one of the first designers to use the "Brand India" positioning for...

Rocky Star, Label - Rocky Star

Rocky Star
Label - Rocky Star

<b>Rocky Star,</b> an Indian designer known for his inspiration from the...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

<b>Ruma Devi i</b>s a jet-setting promoter of artisans who has empowered...

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

Leave your Comments


October 2021

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


Advanced Search