Using development to promote peace in Timor-Leste

4 Jul 2008

Using development to promote peace in Timor-Leste

Dili – April 18, 2008 Thousands of low-income Timorese will be able to apply for small enterprise loans under a new initiative launched by the Government of Timor-Leste and the United Nations in Dili today.
The INFUSE programme will provide access to finance for some of the most economically vulnerable people in Timor-Leste's 13 districts. The $US5 million dollar project will provide loans to thousands of people enabling them to build their business idea.

Both the United Nations Capital Development Fund (UNCDF) and the United Nations Development Programme (UNDP) have joined with the Ministry of Economy and Development in administering and launching the programme.

The Minister of Economy and Development Joao Goncalves said INFUSE will work with existing financial service providers who will in turn increase their micro-loan portfolios and expand their reach.

UNDP Resident Representative Finn Reske-Nielsen said:

"Long-term and sustainable peace in Timor-Leste depends upon increasing peoples' access to finance. This programme will provide loans to people who would otherwise fail to qualify, due to a lack of collateral

Linking the need for funds with a sound business proposal will assist development for some of those who most need it.

The Government of Timor-Leste has shown great leadership in moving this programme forward."

For more information about how the United Nations is improving development in Timor-Leste please call Allison Cooper on +670 7230453