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Function:
BEDC’s aim is to fulfil the following functions of the corporation as stated in the Bermuda Economic Development Act 1980 (amended in 2006 and 2011):
• The granting of loans or other forms of financial assistance, to assist persons in establishing, carrying on or expanding small businesses, medium-sized businesses, and entities with economic empowerment zones;
• The provision of technical advice or assistance to persons who are seeking or who are granted financial assistance;
• To operate and manage markets; • To oversee and manage the development and implementation of economic empowerment zones; and
• The maintenance of a Register of Small Businesses, Medium-Sized Business and Economic Empowerment Zone (EEZ) Business Entities which may be divided accordingly.
St. George's Economic Empowerment Zone (EEZ)
A designated geographical area where special programmes are implemented in order to relieve hardship or economic disadvantage or to assist disadvantaged persons to achieve equal opportunity.
Learn more about the EEZ