Focus Taiwan
Date: 04/03/2020
By: Emerson Lim

Taipei, April 3 (CNA) The International Cooperation and Development Fund (ICDF), a development aid agency founded by Taiwan's foreign ministry, will soon help cash-strapped people and businesses in Palau through a financial inclusion scheme.

The program, which took effect after the signing of an agreement on March 30, is aimed at promoting inclusive and sustainable growth in the Pacific island nation, ICDF's public relations officer Alex Chang (張子弋) told CNA on Friday.

Under the plan, the ICDF and National Development Bank of Palau (NDBP) will team up to offer microfinance services to women, young people, and micro, small and medium-sized enterprises (MSMEs), which often have trouble obtaining loans, Chang said.

The ICDF will provide funds to NDBP, which will then loan out the funds based on its credit review procedures and also set up an assistance office to guide borrowers on how to utilize the money to improve their lives or create their own business, he said.    [FULL  STORY]