Women’s loan fund gets going

Taiwan Ambassador Jeffrey SC Hsiao and his wife Jasmine Du, center, joined women leaders, KIA Fund board members, and Bank of Marshall Islands officials in a ceremony Tuesday at Bank of Marshall Islands to mark the official handover of the $1 million to initiate the women’s small loan program. Photo: Eve Burns.

The Taiwan-funded women’s small loan program known as Kora Im Ankil (KIA) Fund Inc. is getting down to business following a board of directors meeting last week that finalized bylaws and other details for the program to start. This week, Tuesday a small ceremony was held at Bank of Marshall Islands marking the official turnover by the Taiwan government of $1 million to the KIA Fund.

The KIA Fund is a non-profit organization that targets projects and programs for marginalized women and girls and their dependents across all ages in the Marshall Islands.

The KIA Fund was established in accordance with an agreement between the RMI and Taiwan governments signed in March 2019.

Taiwan is providing $1 million to the RMI and KIA for the implementation of the women business start-up small loan revolving fund.

The KIA Fund seeks to achieve gender equality by expanding opportunities, resources and rewards for women, while building and strengthening gender-focused networks and coalitions to improve the lives of women in the RMI.The guiding principles of the new fund:
• Promote women’s talent and innovations
• Support women’s economic development
• Provide support to organization and individuals
• Support RMI national economic policy.

The $1 million from Taiwan will be deposited with Bank of Marshall Islands, which is one of the implementing agencies of the fund. BOMI will work with the Executive Board of the fund and WUTMI is the secretariat for the fund.

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