 Mr. Speaker, whereas it is provided by Section 63, one of the Public Finance Management Act, Cap 15.0 on the Act, that the Minister of Finance may, by an affirmative resolution of parliament, borrow from a bank or the finance institution for the capital or current expenditure of government. Whereas it is fully provided by Section 64 of the Act that money borrowed by the government must be paid into and form part of the consolidated fund. And whereas the Minister of Finance considered it necessary to borrow an amount of US dollars, $6,276,000 from the special funds resources of the Caribbean Development Bank, the bank special development fund to support the youth economy project, the loan. And whereas the loan is repairable in 92 equal or approximately equal and consecutive quarterly installments, and whereas the loan payments commenced on the first day of January, the first day of April, the first day of July and the first day of October of each year, after a great period of two years, following the date of the loan or such later date as the bank specifies in writing, and whereas interest is paid by the rate of 0.75% per annum on the amount of the loan disposed and outstanding, be it resolved that the parliament of rise is the Minister of Finance to borrow an amount of US dollars, $6,276,000 from special funds resources of the bank special development fund to support the youth economy project. And whereas the loan is repairable in 92 equal or approximately equal and consecutive quarterly installments, be it the loan payments commenced on the first day of January, the first day of April, the first day of July and the first day of October of each year, after a great period of two years, following the date of the loan or such later date as the bank may specify in writing, interest is paid about at a rate of 0.75% per annum on the amount of the loan disposed and outstanding. Mr. Speaker, in his 2021 manifesto is a Lusia Labour Party on page 10 made the following statement, youth economy and economy for the young. This Lusia Labour Party is aware that policy makers, and I quote Mr. Speaker from the manifesto, this Lusia Labour Party is aware that policy makers of the past in designing programs for economic growth and development have not given nuanced attention to the needs and special interests of the youth. This party, this partly explains the high level of youth unemployment. An SLP government will therefore provide tailored incentives to the youth and allow them to turn hobbies into entrepreneurial activities and skills into business. In keeping with this objective, an SLP government will undertake to do the following. Provide fiscal incentives to young entrepreneurs that are specially targeted and readily accessible. Provide financing to eligible young people to operationalize their business ideas in the form of grants and low interest loans. Provide marketing support for these budding entrepreneurs to market the products and services locally, regionally and internationally. Provide programme that supports skills training, mentorship and the development of the emotional intelligence to assist them in becoming successful young entrepreneurs. Provide that the youth economy is an integral part of the wider economy to ensure the creation of a young indigenous business class that can enhance local wealth creation. Establish a separate ministry, the ministry of the youth economy, to administer the programs and activities of the youth economy. This ministry will provide the required training to ensure that the skill sets of young people are adequate to meet the needs of a global marketplace. Mr. Speaker, that was in July 2021 Mr. Speaker. Mr. Speaker, as usual, we were ridiculed by the opposition. They had no concern that youth unemployment was sometimes as high as 40%. That was not their concern. Their concern was to ridicule us as usual Mr. Speaker. Ridicule us and said to us, other than the youth economy that you are speaking about. I remember reading an article in the voice of Senator Mr. Speaker written by the United Workers Party. But they ridiculed us Mr. Speaker. They ridiculed us. They said there was politics and what you should give young people is find them work in call centers. We have no issue with that. We have no issue with that Mr. Speaker. In fact, that is why the ministry of investment assisted the call centers in view for Mr. Speaker. Right now, there is great interest because of the policies of this government in call centers Mr. Speaker. It is the same way that employment is going to increase for young people. And the number of hotel projects that are coming on stream Mr. Speaker. Hotel projects Mr. Speaker, not one hotel project happened under the United Workers Party. Not one. Not one Mr. Speaker. And you talk about managing the economy. And talk about investment friendly. Not one hotel project came under the United Workers Party Mr. Speaker. Not one. So Mr. Speaker, we said that our young people would get jobs in the hotel projects that we are, that we would develop Mr. Speaker. So Mr. Speaker, on March 28th, so youth economy, it was initiated with a youth economy act. A youth economy agency act. It was a special parliamentary document Mr. Speaker that outlined for the first time targeted interventions for the young people of St. Louis Mr. Speaker. So by letter received on March 28th, 2023, the government of St. Louis, for the most part of the youth economy act, it was a special parliamentary document Mr. Speaker. So by letter received on March 28th, 2023, the government of St. Louis, for the most part of the youth economy act, so by letter received on March 28th, 2023, the government of St. Louis, for the ministry of finance, economic development and youth economy, requested support to youth-owned enterprises for a transformative one-step solution for grant and loan financing, business development, training, mentorship, coaching and psychosocial support for the young people of St. Louis. A one-stop agency for the young people of St. Louis Mr. Speaker. In the budget of 22, 23, the government invested four million dollars for the young people of St. Louis. In 20, in this budget Mr. Speaker, we said to the young people that we are going to expand that investment in the future, that investment in making them sustainable, not talk, investment, direct investment Mr. Speaker in the youth economy. So we went to the Scariba Development Bank and we asked them for the support Mr. Speaker. The solution youth economy project is a response to the increasing youth population and high youth unemployment. It has been well established that an expansion of youth economic participation and empowerment in the medium size and micro industry sector will help maximize the economic potential of the youth population and create a more equitable society Mr. Speaker. Mr. Speaker, and again I want you Mr. Speaker and I want the people of St. Louis listening to me to understand how this government operates, the ideological, the philosophical and the economic underpinnings of this government Mr. Speaker. First of all Mr. Speaker, we decided that as a government we have to create an environment where education will have been simpler. Easier. We will move facility fees. We realize that we have to make it easier for parents to get into the technological age. We will introduce the one computer per household in this country. We also realize that students when there was hardship for students when they are writing their CXC subjects. We removed fees for maths and English Mr. Speaker. We realize also that education had to be increased. So we decided that we would go on a program of one university, one university graduate for household Mr. Speaker. But we also realize that there were people who wanted to go into business, young people, below the age of 35 who wanted to go into business Mr. Speaker. So we decided to get involved in the youth economy. But we didn't do it alone. We also understood that there were other people who wanted to go into business. So we decided that the SME, the small and medium enterprises had to be enhanced with an injection of $10 million in the small and medium size economy Mr. Speaker. With an emphasis of women and youth Mr. Speaker. And this program is developing, this program is growing. Mr. Speaker, the expected outcome of the project is increased economic participation and engagement of the youth population between the ages of 1845 in socially inclusive, gender responsive and environmental resilient business enterprises contributing to the expansion of the SME sector and Senusha's overall social socio-economic developments. Importantly, the project will strengthen social and gender impact assessments, baselines, targeting and training to inform the operations and policy framework of the youth economy agency Mr. Speaker. Mr. Speaker, the youth economy agency is run by a board of directors Mr. Speaker. And these board directors, they handle all their affairs, all their affairs Mr. Speaker. There is absolutely no partisan political interference in the youth economy agency Mr. Speaker. All the youth economy has all Mr. Speaker. There is absolutely no interference. Because when it comes to employment, sustainability and job creation, this government sees no colours Mr. Speaker. That is for the enhancement of the country. So there is absolutely no interference Mr. Speaker. And they cannot believe that. Because that's not how they operate Mr. Speaker. Gone are the days when you just start to cry. These days are over. Gone are the days Mr. Speaker. Gone are the days Mr. Speaker when non-entities should not be in business. These days are over Mr. Speaker. The days of the non-entities are over. These days are done. Now is opportunity for all. The project involves Mr. Speaker capital financing. This involves the provision of funding to youth enterprise beneficiaries in key economic sectors. Including agriculture, agro processing, the blue economy, the green economy, the orange economy, designing, entertainment, modeling, music, sports, literature and performing arts, writing and directing, training and technology Mr. Speaker. Getting young people involved in what they like Mr. Speaker. So you can go for a loan to improve, expand your modeling business if you look good enough. You can go to get a loan Mr. Speaker to improve your business to create websites Mr. Speaker. You can go to the youth economy agency to get a loan to get involved in sports. If you have the talent and the ability you can go to the youth economy Mr. Speaker to get a loan to get involved in music Mr. Speaker. You can go to the youth economy to get a loan in the performing arts and literature in the literary arts Mr. Speaker. And you can also go to get a loan in agriculture manufacturing Mr. Speaker. We are going to the young people and in what they like, what they enjoy. We are not pushing anything down their throat. We are going once you have the ability and Mr. Speaker once you have the discipline. Because this money is not money that we want to throw away. This is productive money that we want to turn into sustainability. So Mr. Speaker, that is what we are doing in the youth economy Mr. Speaker. Mr. Speaker, the loans and grants will be issued based on assessment from a politician. Assessment Mr. Speaker on the intervention politician. The project targets 450 male and female young persons with average loans of 15,000 EC each. A maximum loan of 30,000 dollars Mr. Speaker and grants to 2,960 male and female young persons with average grants of EC 3,000 dollars. A maximum of 5,000 dollars based on needs assessment. The loan portion will be disbursed at 3%. So the spread, we borrow at 0.75%, we unlearn at 3% Mr. Speaker. A spread of 2.25% because the loans have been disbursed from the solution development bank and they have to get a spread for the administrative cost Mr. Speaker. This loan Mr. Speaker will also deal with capacity building. That includes training for 600 male and female young persons in business development, planning and registration, business management, marketing, business mentoring and coaching for 120 male and female young persons Mr. Speaker. As a condition of the youth enterprise loans, beneficiaries will receive a targeted training and technical support program customized to fit the needs of the individual enterprise or sector represented. So Mr. Speaker, before you get a loan, whether it be 15,000, 24,000 dollars, you have to get some targeted training in the field Mr. Speaker so you can ensure that you are up to standard Mr. Speaker. In addition, psychosocial support Mr. Speaker and in note Mr. Speaker this morning how we've used the word psychosocial support several times. We use the word psychosocial support Mr. Speaker because we believe it starts in the mind, in your attitude, in the way you can resolve your conflicts and this is why we always say to the young men in the country resolve your conflicts, your conflicts by communication who is conflict resolution by talking to each other that's why we are human beings, we can talk to each other not lie to each other but talk to them Mr. Speaker not misinforming each other but talking to each other Mr. Speaker Mr. Speaker in addition the psychosocial support will be tailored according to the needs of each individual loan and grant recipient the individual group training programs will be primarily implemented by the YAY through the engagement of consultants Mr. Speaker in addition existing training programs provided by the JEPSET and Small Business Development Center Sa'afalou's Community College and Monroe College will be utilized by the YAY in building synergies and meaningful partnerships for the successful outcomes of the benefits of the youth entrepreneurs so we are going to work with what already exists Mr. Speaker we are going to work with so that we can develop suitable training programs and I want to mention the support of the government of Taiwan Mr. Speaker in this regard the government of Taiwan has been working with the youth economy Mr. Speaker in developing these training programs and I want to thank them Mr. Speaker on behalf of the people of Senegal Mr. Speaker the loan will deal with institutional strengthening of the youth economy agency including the development and strengthening of environmental, social and gender safeguards monitoring and evaluation grievance, reduced mechanisms again Mr. Speaker to help solving conflicts building resilience to climate related and other shocks strengthening interagency partnerships and networking of the youth economy agency through technical assistance services and facilitation of board management of staff Mr. Speaker the facilities main implementation agency will be the Ministry of Finance through the youth economy agency we will engage trainers, consultants and other food parties stakeholders to implement the projects training and technical support component Mr. Speaker Mr. Speaker the CDB Board of Directors on June the 8th note the date remember the date June the 8th 2023 approve the loan to the government of St. Lucia for an amount not exceeding 6 million 276,000 US dollars and a grant of US dollars 466,200 the CDB SRR on CDB standard terms and conditions and terms and conditions Mr. Speaker as set out in the appraiser report Mr. Speaker the total the Board also proved a waiver of the CDB's private sector development policy and strategy to permit CDB to finance working capital to the existing enterprise Mr. Speaker that is how important the CDB saw the project Mr. Speaker so we can use it as working capital the total value of the waiver is estimated at 4.2 million dollars Mr. Speaker the project will be implemented over an 18 month period commencing October 2023 and ending March 2025 the institutional structure and capacity for project implementation has been established for the creation of the year we found the year Mr. Speaker the ESCU will manage the implementation of the project and Mr. Speaker there are certain conditions precedent and the first one is it has obtained prior approval of parliament for the loan as what we do in there and the executing agency appoints a chief executive officer pursuant to the provisions of the act as amended from time to time Mr. Speaker so Mr. Speaker that is what we are borrowing the money for Mr. Speaker but Mr. Speaker the year is already in operation as we speak the year is expanding Mr. Speaker we are expanding because as I said before we need additional support we need additional staff Mr. Speaker and Mr. Speaker I want to make a point that may sound a small point Mr. Speaker the offices of the year are situated very close to the NHC very close to the NHC headquarters on Shosa Road Mr. Speaker important small but significant and Mr. Speaker we are having discussions to upgrade and revitalize the Derek Walcott Center which is near the offices of the year we have had discussions with the National Trust Mr. Speaker so let's envisage because you see Mr. Speaker this government believes that everyone must rise together the tide must take everyone together Mr. Speaker so you cannot develop one part of the country and forget the rest and say that's where them people are staying the country must develop together Mr. Speaker so let us envisage what is happening on Shosa Road in the distance in the distant future or in the near future Mr. Speaker the offices for young people the next door you have the Derek Walcott Center and a whole set of development which should happen here understand that the member for Cassie Central together with National Trust and together with the community is working on plans implementation plans for that whole area Mr. Speaker you have the NHC building higher up Mr. Speaker you go into the teachers' trade union which on 4080 understand is moving but something has to come something has to come then Mr. Speaker and then Mr. Speaker we are going to disclose some plans for the capital of Cassie but that's when there will show with Mr. Speaker that's when there will show with Mr. Speaker so you will see the complete transformation of the area but that's when there will show Mr. Speaker to date the year has trained 92 young persons in the north and the south of the island in the skill of business training with additional session to be held in 2023 to attain to train additional 60 young persons Mr. Speaker we have just concluded training of 28 young persons in the art of digital marketing Mr. Speaker Mr. Speaker and what is so encouraging is the number of young people Mr. Speaker who come to the agency Mr. Speaker the main activity of the year has centered around the provision of grant financing to qualify young persons the year has received over 1000 applications for grant financing application Mr. Speaker and these applications come from a wide cross section of the country ancillary 839 Barbono 83 Canary 16 Castries 353 that's Castries north Castries central Castries south and Castries east Chosel 45 January 59 Deryso 9 Bosile 170 Labry 43 Mabia Valley 24 Miku 55 Monripo 7 Sufres 71 Viewfort 89 Mr. Speaker Mr. Speaker we intend to open an office for the year in Viewfort shortly Mr. Speaker 1060 applicants out of those Mr. Speaker 200 have already received funding for their respective enterprises and another 100 have been interviewed and one of the documents are in order and they've met the due diligence requirements they will get a grant Mr. Speaker that's already is happening without the investment from the CDB and we've disposed over one thousand one million dollars in grants to the young people of Senusia over one million dollars in grants since we opened in April 23 in April 23 to now Mr. Speaker we have disposed over million dollars in grants to the young people of Senusia over one million dollars in grants between April and September and look how they are distributed Answer in 9 Babylon 9 Canary Street Cashew 65 shows her and then Mr. Speaker has followed his leader and he's not here for such an important debate Mr. Speaker he's not here and when he's free they go to town Mr. Speaker and spread misinformation Mr. Speaker shows her 12 then Mr. 16 grows her 25 lab is 6 Mabia then we have 2 Miko 16 absolutely no political political distinction Mr. Speaker shows her 12 Miko 16 Maribor 1 Sufran 19 view for 23 Mr. Speaker a total of 206 loans have been distributed Mr. Speaker Mr. Speaker I'd like the 6 of us who are in opposition Mr. Speaker I want the government to come in public and say what was done for our constituencies Mr. Speaker the areas the youth gave grants Mr. Speaker for water tanks irrigation systems computers fertilizer technical services and Mr. Speaker here's what's important look at the areas where the grants were given agriculture 21 grants it shows young people if you give them the tools if you give them the adequate the environment they're going to agriculture 21 for agriculture 4 agro processing 14 for arts and crafts 14 for arts and crafts the origin industry beauty and here's Mr. Speaker 27 Mr. Speaker 27 young people got support with them Mr. Speaker in the digital technology 10 people entertainment 19 grants again for entertainment for fashion 8 grants 8 grants fishing and marine 2 food and beverage 41 health and wellness 9 landscaping 4 manufacturing 3 Mr. Speaker tourism 9 marketing 6 even retail 8 Mr. Speaker so Mr. Speaker 206 of these grants were given at a total of 1 million dollars Mr. Speaker that has been the impact of the youth economy agency from April 2023 April 2023 Mr. Speaker Mr. Speaker as we speak the youth economy they are expanding the offices Mr. Speaker because they found that it's too small or it's too small Mr. Speaker so they are expanding the office Mr. Speaker so Mr. Speaker I want to tell you that's a promise of this government that we fulfill Mr. Speaker so while the misinformation while the hate the misinformation the hate and the propaganda Mr. Speaker the people the government solution is working Mr. Speaker Mr. Speaker if I end there's a school of thought that says that this government should not respond to the misinformation and the propaganda of the United Workers Party there's a school of thought that says so Mr. Speaker that don't respond stay on your gender don't respond Mr. Speaker but I'll tell you what Mr. Speaker I'll tell you what we are saying on the agenda but we are going to respond because if Saddam Hussein had responded correctly they would have no war in Iraq because the war in Iraq was in a premise that there were weapons of mass destruction and they were none the war in Iraq that's how it came about so if this government allows misinformation and lies to go unanswered constantly and frequently Mr. Speaker we may end up paying the consequences of lies Mr. Speaker because you've seen it before so we cannot Mr. Speaker so I want to tell the people who believe that we're still on course we are staying on course we're the minister of infrastructure what we're doing for infrastructure we're on course every ministry is on course ministry of housing we demolished a building yesterday you remember that you and cry about this building how it will be displace in people how people will have been and these are not the problems but we are on course Mr. Speaker we are on course the minister of equity you heard what's happening there we are on course home affairs we are on course in sports we will not mock us Saddam Hussein is doing the best we won all three levels of cricket competition this day on the 19 under 15 and the adult and the male pit we won solution course you heard what what Miss Alfred is doing we are on course in excel affairs we are on course we are there negotiating in tourism even on mock us Mr. Speaker in health we compete in San Jude in health we get involved with UHC so we are on course in health too in education we are on course in education but why we remain on course we will not allow lies and misinformation to faster but we are going to stay on course Mr. Speaker Mr. Speaker I urge members to support the resolution on the youth economy I thank you Mr. Speaker