Overall Objectives:

The overall objective of the RESTORE programme is to promote rural economic development and diversification by improving access to credit by rural enterprises in Saint Lucia.

Project Purpose

The purpose of the RESTORE programme is to create a sustainable and enabling environment for rural business by:
• Strengthening rural credit institutions to enable them to increase the level of credit that they extend to local business while improving their own profitability.
• Providing technical support to entrepreneurs in the rural areas to enable them (either collectively or individually) to meet the lending requirements of the credit institutions.


• Rural credit institutions (credit unions and co-operative societies)
• Rural enterprises, particularly SMEs
• Rural development institutions and rural business support organizations
• Low income rural households

The key stakeholders will are:

• Saint Lucia Co-operative Credit Union League
• Saint Lucia Small Business Association
• Ministry of Trade and Industry (Small Enterprise Development Unit)
• Ministry of Finance (Department of Co-operatives)
• Office of Private Sector Relations (OPSR)
• The Saint Lucia Development Bank

Expected Results

The expected results from the activities carried out over the period covered by this programme are:

1. Rural credit institutions (i.e. credit unions/ cooperative societies) strengthened in key areas such as:
• Capacity building
• Technology upgrading
• Information management and research
• Networking and alliance building (nationally and internationally)
• Institutional development

2. Rural SMEs developed (established and strengthened) through the provision of credit and technical assistance in key economic areas, particularly in areas where they have a distinct competitive advantage

3. Technical and /or professional services provided to rural SMEs to assist them in accessing credit from their local financing institutions

4. Increased inflow of credit to rural SMEs by rural credit institutions

5. Increase inflow of credit to specially targeted socially vulnerable groups such as youth and women

6. Introduction of group lending approaches, and other applicable modern approaches, to micro-financing to increase credit inflow to socially vulnerable groups of entrepreneurs

7. Improved capability of the rural credit institutions to assess and manage lending to the specially targeted socially vulnerable groups

8. Introduction of complimentary credit support schemes (such as skills training and mentorship) to help reduce lending risks of rural enterprises


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