1 million dollars to be added venture capital fund to be operated by the Entrepreneurial Development Program

The content originally appeared on: Antigua News Room

CABINET NOTES

The Cabinet has raised $1,000,000.00 to add to a venture capital fund to be operated by the Entrepreneurial Development Program (EDP).

A significant portion of the fund was contributed by the Peoples Republic of China and the other portion will come from the Citizenship by Investment Program.

Any funds utilized by entrepreneurs must sooner or later be repaid; or, if utilized for a venture capital enterprise with the EDP as partner, the shares can be sold to the EDP in order to reduce the businesses’ liability.

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