Suriname’s National Development Bank (NOB) has officially launched the PKF Level-UP credit program, specifically designed to empower young entrepreneurs aged 18 to 27. The initiative, introduced on Friday, provides convertible loans from the Production Credit Fund (PKF) to support business establishment, financing, and expansion within the manufacturing and tourism industries.
Named ‘Wan Okasi Gi Den Jongu Basi’ (An Opportunity for Young People to Advance), the program offers favorable-term microloans to both startup founders and existing young business owners. During the ceremonial launch event, President Jennifer Simons urged youth to actively leverage this opportunity, emphasizing the program’s potential to facilitate the transition from poverty to production and prosperity.
The launch ceremony saw participation from key government officials including Finance and Planning Minister Adelien Wijnerman, Economic Affairs, Entrepreneurship and Technological Innovation Minister Andrew Baasaron, PKF board members, and NOB Director Sandy Cameron with her team.
Managed collaboratively by the NOB and the PKF oversight board, the program receives crucial operational support from the Ministry of Regional Development (RO). Sharma Betterson-Leefland, PKF board secretary and RO representative, highlighted the ministry’s pivotal role in program success, noting that RO’s nationwide district presence enables effective outreach and education for young entrepreneurs about the Level-UP credit opportunities.
Originally established in 2023, the PKF aims to stimulate growth and development among small and medium-sized producers of goods and services across all districts, excluding direct trade, agriculture, livestock, and fishing operations. However, businesses in these excluded sectors may qualify for funding when engaged in processing industries.
The fund’s strategic objectives include enhancing production capacity, promoting exports, replacing imports, creating business spin-offs, and generating employment opportunities, with particular emphasis on strengthening the position of young Surinamese entrepreneurs in the national economy.