Twenty women-owned and led Micro, Small, and Medium-sized Enterprises (WMSMEs) across seven Caribbean Development Bank (CDB) Borrowing Member Countries (BMCs) have been awarded grants amounting to approximately USD 420,000.
These funds are facilitated through the SheTrades Caribbean Regional Hub’s Grow and Go Grant Facility, which aims to support entrepreneurs in expanding their operations and gaining access to new markets. In addition to providing financial assistance, CDB stated in a written release that the program’s resources are designed to address operational and technical challenges faced by each business.
The SheTrades Hub, described by the CDB as a collaborative effort with the International Trade Centre (ITC), is a pioneering initiative intended to accelerate the development, export readiness, and international competitiveness of women-led enterprises throughout the Caribbean. After a what it says is a rigorous selection process that received 106 applications, the chosen recipients demonstrated strong business viability, innovative strategies, and significant growth prospects.
Lisa Harding, Division Chief of the Private Sector Division at CDB, emphasized the importance of such initiatives, stating,“In a fast-changing global trade environment, access to finance remains one of the biggest hurdles for women entrepreneurs, the SheTrades Caribbean Grow and Go awards are more than grants—they are keys, unlocking export opportunities and giving women-led businesses the tools, confidence, and platform to thrive on the world stage.”
The recipients of the grants reportedly exemplify the diverse scope and dynamism of Caribbean entrepreneurship, representing countries including Dominica, Barbados, Belize, the Cayman Islands, Jamaica, Suriname, and Trinidad and Tobago. Their businesses operate across a broad spectrum of sectors such as agriculture, agro-processing, manufacturing, health and wellness, creative industries, Information Communication Technology (ICT), and tourism.
These enterprises contribute significantly to regional innovation, resilience, and economic transformation, says CDB. Utilizing the ITC SME Diagnostic Assessment Methodology, each awardee will develop a customized plan to facilitate scale-up efforts, market expansion, and increased visibility within regional and international value chains.
” These grants are both a celebration of achievement and a strategic investment in the entrepreneurial capacity of Caribbean women,” remarked Kayanne Anderson, Regional Coordinator for SheTrades Caribbean, commenting on the significance of the initiative.
“The businesses selected reflect the creativity, resilience, and innovation that drive our region forward,” she added.
In the upcoming weeks, the awardees will engage in storytelling campaigns and mentoring programs aimed at inspiring other women entrepreneurs. Following this pilot phase, CDB plans to evaluate the program’s impact to inform future efforts that will further enhance the global competitiveness of women-led enterprises across the Caribbean.
This is commendable!! My extended support at plans for future replicatiion. But by gower, where are the corresponding opportunities for the men ???
There is a law of ” unintended consequences “. It would be counterproductive to our Caribbean civilisation, if our premier financial institution regionally, were to be viewed, and indeed is, the firefighter who ignites the fire in the first place.
What for young men? Nothing? leave them on the block?