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Region urged to make use of EDF

Saturday, March 01, 2014    

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BRIDGETOWN, Barbados (CMC) -- The Barbados-based Caribbean Export Development Agency (Caribbean Export) yesterday urged the regional private sector to take advantage of the funds made available under the 10th European Development Fund (EDF).

Caribbean Export said that the funds being made available through the Direct Assistance Grant Scheme as part of the Regional Private Sector Development Programme (RPSDP).

The Direct Assistance Grant Scheme is a reimbursement grant funding facility specifically designed to provide financial assistance to legally registered firms, individuals and Business Support Organisations who have the potential to export their products and services.

Caribbean Export said that regional firm can apply for grants of up to Euro30,000 (One Euro=US$1.29 cents) providing they meet the eligibility criteria and they are exporting or demonstrate the potential to export goods and services.

Caribbean Export said that throughout 2012 and 2013 it has conducted grant proposal workshops across the Caribbean Forum (CARIFORUM) countries to prepare stakeholders ahead of the current call for the private sector to take advantage of the funds available.

It said last year, it had received 239 applications from across the region and was looking forward to receving a record number of applications this year.

"The Direct Assistance Grant Scheme, is one of [the] most impactful initiatives that we undertake; some would argue that it is the most impactful because it injects finance into the benefitting firms. We believe that this Call for Proposals is an opportunity that should be exploited by any regional business that is looking to take that next step.

"Finance is crucial to the development of any company, large or small, and to have a programme like this should not be overlooked, especially in this challenging economic climate" said Pamela Coke Hamilton, Caribbean Export executive director.

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