– to expend millions to young entrepreneurs over next two yearsThe effective and efficient functioning of Neighbourhood Democratic Councils (NDCs) and MunicipalitiesIPED CEO,Mr. Ramesh Persaudare critical to ensuring the success of many micro and small businesses. This informed assertion was recently made by former President of the Private Sector Commission (PSC) and Chief Executive Officer (CEO) of the Institute of Private Enterprise Development Limited (IPED), Mr. Ramesh Persaud.His remarks have come on the heels of the recent Local Government Elections (LGE) which were held on March 18 last after a two-decade long hiatus.And Persaud is appealing to the new Municipal Councils to not only be innovative and business friendly but also to adopt policies that are friendly and suitable to small businesses. “You are important in the eco-system and we depend on you,” Persaud asserted as he credited the new administration with ensuring that LGE was held this year.“I take this opportunity to thank the President and his Cabinet, on behalf of all micro and small businesses, for these remarkable developments,” added Persaud who just last Friday delivered remarks at the 30th Anniversary Celebration of IPED at the Kingston, Georgetown, Pegasus Hotel.According to him, too, it is IPED’s determination to continue to forge ahead in pioneering new ground and developing small businesses to fulfil their potential. Persaud therefore disclosed plans to lend to this agenda.“I am, therefore, pleased to announce that IPED has set aside $50 million to provide support to the creative industries; $300 million for the support of non-traditional agriculture and $150 million for the support of business ideas and ventures of young persons below the age of 30,” related Persaud.And according him,Dion Dawkins Bills Jersey, the earmarked funds will be made available to IPED to be disbursed in the next 24 months.IPED has a presence throughout the country at locations in Mabaruma, Port Kaituma, Anna Regina, Charity, Parika, Vreed-en-Hoop, Georgetown, Rosignol, New Amsterdam, Port Mourant,Walace Jersey, Corriverton, Lethem and Linden.“As you can see, we serve all 10 Regions. When looking for our offices,Fabian Moreau Youth Jersey, don’t look for a fancy building as our facilities are kept modest and humble so that the small man and woman can feel comfortable and not intimated,” said the IPED CEO.IPED loans, according to him, can be as small as $40,Chris Godwin Buccaneers Jersey,000 and as much as $20 million.And according to Persaud,Andre Schurrle Germany Jersey, “In 30 years,Dalvin Tomlinson Jersey, IPED disbursed 100,000 loans to a value of $30 billion, with a repayment rate of 97 per cent. It currently supports 4,500 micro and small businesses employing in excess of 10,000 persons.”He disclosed that the projects and employment cost generated from the small businesses supported by IPED are estimated to be in the range of two to three per cent of the annual Gross Domestic Product (GDP).Based on the loans disbursed last year 50 per cent were in the Agriculture sector, 70 per cent did not require real estate collateral, 90 per cent were rural borrowers from in excess of 700 villages through the Regions, with 12 per cent being for youth borrowers.Persaud revealed, too, “IPED supports approximately 1,000 rice farmers annually. These farmers plant 20 per cent of the total acreage under cultivation per crop.”