The following statement was issued by the Honourable Shawn Skinner, Minister of Innovation, Trade and Rural Development. It was also read in the House of Assembly:

Government and Community Working Together

I am pleased to stand in this Honourable House to highlight a successful example of the Provincial Government and community-based organizations working collectively.

The Government of Newfoundland and Labrador and the Newfoundland-Labrador Federation of Co-operatives (NLFC) share the goal of promoting and enhancing business development that lead to vibrant and diverse communities.

Recognizing our shared vision, the Provincial Government and the NLFC entered into a Memorandum of Understanding in June 2007 to formalize our working relationship. At that time, Newfoundland and Labrador joined the ranks of Quebec and Nova Scotia as the only provinces to forge such a relationship with a provincial co-operative business association.

Together we have developed a long-term strategy and introduced initiatives that have helped local enterprises benefit from pursuing the co-operative business option. Another outcome has been the implementation of a micro-lending project.

As part of the Provincial Government�s Poverty Reduction Strategy, the Department of Innovation, Trade and Rural Development and the NLFC have launched micro-lending projects in St. John�s and the Exploits Region. In St. John�s, we have partnered with the Community Centre Alliance and in the Exploits Region the delivery agent is the Exploits Valley Economic Development Corporation.

Through these pilot projects participants can avail of skill development workshops, in addition to the establishment of peer support groups that provide access to business loans ranging from $2,500 to $10,000. These are valuable resources that help with the start-up or expansion of home-based businesses and micro-enterprises. Loans may also be used for investment in co-operative enterprises or to access co-op services.

Essentially, this pilot project not only enables us to support self-employment using a micro-lending process but also to expand opportunities for co-operative development.

Globally, there are many examples that highlight micro-lending as a key form of financing used to eradicate poverty by fostering the development of successful businesses. Micro-lending is applicable to individuals of any age or gender and have proven to play a significant role in self-empowerment. It builds viable businesses, increases income, sparks confidence, encourages the establishment of regional networks, and enables people to become economic agents of change.

Interested parties should contact 729-7451 or 1-800-563-2299 for more information.

INTRD, NLFC and our regional partners believe that micro-lending is an essential tool in the development of strong regions, diverse economies, and the entrepreneurial spirit. As Minister responsible for co-leading these initiatives I am proud of our collective accomplishments and look forward to continued success and utilization.

2009 04 29               3:50 p.m.