March 29, 2006
The government will give USD 465 million for social production businesses

(El Nacional) - "William Fariñas, President of the Medium and Small Businesses Credit Fund, is convinced that the government will set a new record this year in the provision of financing options to the business sector, but he also said the government will prioritise in social production businesses (...)

The official said the government's social economical office decided to loan USD 465 million to companies dedicated to social production, so they can reproduce themselves and the country could have more than 1000 of these companies operating by the end of the year.

'Only in the fist semester, USD 236 million have been given to the medium and small business industry, and we already have more than 500 applications' (...)

'We see it's a social production business when it has social responsibility with their communities and workers. It also has to show environmental responsibility', explained Fariñas.

'There are strategic sectors that we want to promote with technical assistance and credits. We are interested in investing on agro-industry, construction, metal-mechanic, tourism and technological companies', he said".