Local businesses realized weak performance in the early 2000s, as they attempted to recover from the post-independence referendum violence. Traditional markets are filled by the local community, while foreign-owned businesses are largely patronized by the wealthy. In April 2001, the World Bank launched a $4.85 million small enterprises project, offering loans of $500 to $50,000 to East Timorese with viable business plans. The project also finances the delivery of business skills training to small and medium-sized enterprises.
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