Taiwan would inject another US$1 million into a start-up loan fund for women in the Marshall Islands and would set up a new fund to support local businesses, Minister of Foreign Affairs Lin Chia-lung (林佳龍) said yesterday during a three-day visit to the country.
After arriving on Tuesday as head of a delegation, Lin met with Marshallese President Hilda Heine, who reaffirmed her country's commitment to its longstanding diplomatic ties with Taiwan, the Marshallese government said in a statement.
Heine also emphasized the importance of continued bilateral cooperation based on shared values, mutual respect and a commitment to advancing the well-being of both nations, the statement said.
Photo: Screen grab from Minister of Foreign Affairs Lin Chia-lung’s Facebook page
Lin yesterday chaired the first committee meeting under the Taiwan-Marshall Islands Economic Cooperation Agreement, which was implemented last year.
Later in the day, Lin's delegation — comprising 60 representatives from the shipping, cold-chain logistics, medical equipment, food processing, clean energy, and information and communications technology industries — participated in a forum aimed at boosting business opportunities and bilateral trade relations.
At the forum, Lin announced that Taipei would inject another US$1 million into a fund it has been supporting that provides loans to women in the Marshall Islands to start their own businesses, he wrote on Facebook.
The Taiwan-Marshall Islands Women Business Start-up Small Loan Revolving Fund, also called the Kora Im An Kil Fund, is a joint initiative that was established in 2019.
At that time, Taiwan and the Marshall Islands each contributed US$1 million to the fund to provide loans to female entrepreneurs, in a bid to foster economic empowerment and support small business development in the Pacific nation.
At a dinner on Wednesday, Lin also signed a memorandum of understanding with Marshallese Minister of Foreign Affairs and Trade Kalani Kaneko to establish an "economic resilience loan fund."
The deal is expected to pave the way for a credit guarantee mechanism to help local businesses overcome financing difficulties, expand business opportunities and improve economic resilience, Lin said on Facebook.
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