The Grenada Development Bank (GDB) is celebrating its 50th birthday this year and is doing so with the public in mind.
Originally established in 1965 as the Grenada Agricultural Bank, and later on as the Grenada Agricultural Industrial Development Corporation, GDB continues to play a key role in the social-economic development of Grenada, Carriacou and Petite Martinique.
According to Chairman of the Board of Directors, Michael Archibald, “the Bank’s mission is to be an innovative and viable development organisation, providing high quality financial and related services to the state of Grenada, with the aim of fostering socio-economic development.”
Since its existence and being true to its mandate, GDB has provided over EC$100 million dollars in technical and financial assistance to the public in the areas of agriculture, fisheries, tourism, small business development, housing, education and human resource development.
In celebration of this milestone, GDB continues to look for ways to support its customers and the general public and is teaming up with the Government of Grenada and the Caricom Development Fund to offer reduced rates and special discounts under its Special Anniversary Package.
Manager of the bank, Mervyn Lord, disclosed that persons wishing to take advantage of this Special Anniversary Package can do so between the Months of February and April as they can secure as much as a 50% reduction on Negotiation and Legal fees and pay as little as 7% on interest payments.”
To benefit under the Special Anniversary Package, borrowers must have an existing business in the following areas:
Organic farming and “Green” Projects
Projects with Foreign Exchange Savings/Generation Potential
Funding can be secured for the purposes of:
Upgrading or replacing plants and equipment;
Project development or innovation;
Achieving ISO or HAACP standards;
Improving marketability including branding;
Retooling and retraining the workforce and;
Facilitating the development of the service sector, including the “creative industries”.
Businesses will also receive free advertising on the Bank’s website and be allowed to display their products and promotional materials at the GDB’s office.