Taiwan pledges more loans to help small businesses in Marshall Islands

Taipei, April 9 (CNA) Foreign Minister Lin Chia-lung (林佳龍) said Wednesday during a visit to the Marshall Islands that Taiwan will inject another US$1 million into a start-up loan fund for women and will set up a new fund to support local businesses.

Following his arrival Tuesday as head of a delegation for a three-day visit, Lin met with Marshall Islands President Hilda C. Heine, who reaffirmed her country's commitment to its longstanding diplomatic ties with Taiwan, according to a Marshall Islands government press release.

The president also emphasized the importance of continued bilateral cooperation based on shared values, mutual respect, and a commitment to advancing the well-being of both nations, the press release said.

On Wednesday, Lin chaired the first committee meeting under the Taiwan-Marshall Islands Economic Cooperation Agreement that was implemented in 2025.

Later in the day, Lin's delegation -- comprising 60 representatives from the shipping, cold-chain logistics, medical equipment, food processing, clean energy, and information and communications technology (ICT) industries -- participated in a forum aimed at boosting business opportunities and bilateral trade relations.

During the forum, Lin announced that the Taiwan government would inject another US$1 million into a fund it has been supporting, to provide loans to women in the Marshall Islands to start their own businesses, according to his Facebook page.

The Taiwan-Marshall Islands Women Business Start-up Small Loan Revolving Fund, often called the Kora Im An Kil Fund, is a joint initiative that was established in 2019.

At that time, Taiwan and the Marshall Islands each contributed US$1 million to the fund to provide loans to women entrepreneurs, in a bid to foster economic empowerment and support small business development in the Pacific nation.

At a dinner on Wednesday, Lin also signed a memorandum of understanding (MOU) with Marshall Islands Foreign Minister Kalani Kaneko to establish an "economic resilience loan fund."

The MOU is expected to pave the way for a credit guarantee mechanism to help local businesses overcome financing difficulties, expand business opportunities, and strengthen economic resilience, Lin said in his Facebook post.