BRIDGETOWN, Barbados, CMC—The Barbados-based Caribbean Improvement Financial institution (CDB) says it has launched a half-million US greenback initiative to boost the competitiveness of women-led companies throughout the area.
The area’s premier monetary establishment stated that the digital launch of the “SheTrades Caribbean Develop and Go Grant Facility” marks a major step towards advancing ladies’s financial empowerment and boosting their participation in worldwide commerce.
The ability targets women-owned and led micro, small, and medium-sized enterprises (MSMEs) within the CDB’s 19 Borrowing Member International locations (BMCs).
Supplies important monetary help for scaling companies, increasing into new markets, and strengthening financial resilience. Moreover, this system presents technical and capacity-building help by means of the SheTrades Caribbean Hub, a partnership with the Worldwide Commerce Centre (ITC).
The CDB stated eligible companies can apply for grants of as much as US$25,000 in all exporting sectors, together with agriculture, inventive industries, manufacturing, know-how, tourism, and hospitality providers.
Two streams present funding: GROW – for corporations enhancing inside capability and programs and GO – for companies able to export or develop internationally.
“In an period the place international competitors is intensifying, and markets are quickly evolving, empowering ladies in enterprise is not only the best factor to do, it’s a strategic crucial,” stated the CDB’s performing Director of Tasks, L. O’Reilly Lewis, highlighting the significance of investing in women-led corporations, notably within the period of digital transformation:
“By investing of their success, we’re fortifying our area’s place on the worldwide stage, making certain that women-led companies not solely thrive however lead on this new, interconnected world.”
Head of the Ladies and Commerce Programme, SheTrades Initiative on the ITC, Dr. Judith Fessehaie, spoke of the importance of the fund in eradicating monetary limitations that Caribbean Ladies MSMEs face:
“By breaking monetary limitations, this initiative ensures that extra ladies can take part in and profit from worldwide commerce.”
CDB’s performing head of the Non-public Sector Division, Lisa Harding, underscored the urgency of closing the gender hole in worldwide commerce, noting that ladies lead solely 15 p.c of such companies.
“What’s much more regarding is that on the present tempo of progress, it might take greater than a century to bridge this gender hole.
“However I imagine we’re at a turning level. As we speak, we now have the chance to hurry up the method and construct a future the place ladies are on the forefront of worldwide enterprise and commerce. Let’s focus on how we will make that future a actuality proper now, in our area and past,” Harding stated.
Greater than 240 members of the SheTrades Caribbean Hub attended the fund’s digital launch alongside representatives from Gender Affairs Anguilla, Make investments Turks and Caicos, Cayman Islands Chamber of Commerce, Export Barbados, BELTRAIDE, the Inter-American Improvement Financial institution, Compete Caribbean, and PowerHerful Ladies Centre of the JMMB Group Restricted.
Since its institution in 2023, the SheTrades Caribbean Hub has emerged as a pioneering car for ladies’s financial empowerment.
CDB stated it’s additionally getting ready to launch the findings of the Flagship Examine on Entry to Finance in Could 2025, which is able to inform future actions in the direction of extra equitable entry and efficient financing fashions for women-led companies.
Ladies entrepreneurs curious about making use of for the SheTrades Caribbean Develop and Go Grant Facility should be legally registered in one among CDB’s 19 BMCs and be registered members of the SheTrades Caribbean Hub.
The CDB stated functions can be evaluated based mostly on standards together with the comprehensiveness of the funding proposal and participation in capacity-building packages. All functions should be submitted by way of the SheTrades web site earlier than April 27, 2025.
