Taipei, Oct. 8 (CNA) A mother from Eswatini has decided to name her newborn "Taiwan" to express gratitude toward Taiwan for a loan that helped her agricultural business, a government-funded agency in charge of foreign aid said Tuesday.
According to Peifen Hsieh (謝佩芬), deputy secretary-general of the Taiwan International Cooperation and Development Fund (ICDF), Nomfundo Mabuza from Eswatini's Lubombo Region was one of the first recipients of loans disbursed through a Taiwan donated fund.
Titled the "Women Business Start-up Microfinance Revolving Fund" financed by Taiwan's government, the US$1 million fund established in January is aimed at providing financial assistance to aspiring women entrepreneurs, fostering sustainable growth, and empowering women to drive change in their communities.
The fund enables women entrepreneurs to access loans to start or grow their businesses, while also providing capacity-building programs designed to equip them with the necessary skills to ensure long-term success, according to Hsieh.
In March, Mabuza was granted a loan of 20,000 Eswatini dollars (US$1,150) from the Taiwan fund, which she used to buy high-quality corn and vegetable seeds.
After harvesting her corn and vegetables, she sold them for more than 50,000 Eswatini dollars in return.
Mabuza repaid the loan in full in September and even named her baby girl, who was born in March, "Taiwan" to thank Taiwan for the support that she described as "life-changing," Hsieh said.
As of September, the fund had disbursed over US$296,845 in loans to support 270 micro, small, and medium-sized enterprises across the African kingdom, one of only 12 countries around the world to formally recognize the Republic of China (Taiwan's official name).
The two countries established formal diplomatic ties in 1968.
During a ceremony held Sept. 20, Eswatini Commerce, Trade, and Industry Minister Manqoba Khumalo expressed his government's gratitude to Taiwan for the fund, according to Hsieh.
"This fund not only offers financial backing but also strengthens the capacity of women entrepreneurs to become self-sufficient and thrive in today's challenging business landscape," he was quoted as saying in an Eswatini news article.
