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The Caribbean Development Bank (CDB)reports that it has allocated over USD 300,000 to Haiti as a grant for a two-year project aimed at enhancing business activities in the country. This funding comes from the European Union through the Economic Partnership Agreement (EPA) and the Caribbean Single Market and Economy (CSME) Standby Facility, part of a broader initiative to uplift economic conditions in the Caribbean region.<\/p>\n
The entire Standby Facility managed by the CDB has a total budget of \u20ac8.75 million, which is aimed at supporting trade and economic growth across 15 Caribbean nations. Of this, Haiti will receive a significant portion specifically to help strengthen its business framework.<\/p>\n
According to CDB\u2019s Vice President of Operations, Mrs. Therese Turner Jones, \u201cUnder the Capacity Building for Strengthening Quality Infrastructure Project, we\u2019re signaling our continued support for the Haitian Government’s macroeconomic stabilisation initiatives; and also strengthening economic growth and poverty reduction prospects.\u201d<\/p>\n
The project focuses on enhancing the Private Sector Development and Competitiveness in Haiti\u2014an area reportedly in need of urgent support.\u00a0 The Caribbean Community Regional Organization for Standards and Quality (CROSQ), will act as the managing agency for the project, bringing its expertise in standards and quality to improve Haiti\u2019s business landscape.<\/p>\n
The initiative aims to improve the National Quality Infrastructure (NQI) in Haiti. NQI encompasses the standards and structures necessary for facilitating trade and business development, ensuring that, down the line, consumers are protected.<\/p>\n
During the implementation phase, CROSQ will collaborate with Haiti\u2019s Bureau Haitien de Normalisation (BHN), which is part of the Ministry of Commerce and Industry. Their work will primarily involve improving business facilitation and ensuring that companies adhere to quality standards by the direct implementation of changes and improvement of practices.<\/p>\n
The CDB reports that the entire project was initiated based on challenges articulated by BHN, which highlighted issues related to training, necessary equipment, and the promotion of its services. With the backing of the European Union’s financial resources through the CDB, there is potential for Haiti to gain significantly from this project.<\/p>\n
CDB\u2019s Acting Director of Projects, Mr. L. O’Reilly Lewis, emphasized the importance of the initiative by stating, \u201cThe planned interventions will focus directly on building capacity within BHN to enable it to be better able to provide critical services to its stakeholders. Our partners at CROSQ will work with the national body to strengthen Information Communications Technology (ICT) infrastructure and capabilities.\u201d<\/p>\n
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