BRIDGETOWN, Barbados – The Caribbean Development Bank (CDB or “the Bank”) and the European Union (EU) entered into an agreement to administer the CARIFORUM-EU Economic Partnership Agreement (EPA) and Caribbean Community (CARICOM) Single Market and Economy (CSME) Standby Facility for Capacity Building.
The 11th European Development Fund (EDF) is financing the Facility which is being implemented by CDB.
Through this partnership 15 countries have access to over EUR350,000 each in assistance and expertise to implement local projects to improve trade, the economy and lives of their citizens. The fund supports enhancement of each country’s ability to increase the sale of its goods and services in Caribbean and European markets. Over four years activities being executed by government departments, business support organisations and ministries involved in integration and trade will work with CDB to advance the CSME and the EPA (the EUs trade and development agreement with regional governments) with financing and support from the Standby Facility.
Projects
There are seven approved projects being implemented impacting the Organisation of Eastern Caribbean States (OECS), the Barbados National Standards Institution, the National Certification Body of Jamaica (NCBJ), the Dominica Bureau of Standards, Saint Kitts and Nevis Bureau of Standards, the Jamaica Business Development Corporation (JBDC), the Marketing National Importing Board (MNIB) and the Trinidad and Tobago Bureau of Standards (TTBS) respectively.
CARICOM IMPACS is managing the Establishment of an Integrated Border System for the Organisation of Eastern Caribbean States Project which is seeking to increase trade across borders in the OECS, CARIFORUM and the EU. More here
The CARICOM Regional Organisation (CROSQ) is supervising the Strengthening of Regional Quality Infrastructure Programme in Barbados, Dominica, and Saint Kitts and Nevis Project. This is a USD874, 932 project to increase business competitiveness, strengthen manufacturing and reduce production costs.
Barbados Port Inc (BPI) is implementing the Establishment of a Barbados Port Community System Project intended to increase the efficiency of trade across borders through digitalization at the Port of Bridgetown.
The National Certification Body of Jamaica (NCBJ) will benefit from the project entitled the Expansion of Certification Services by the NCBJ intended to improve food safety management systems and export capacity of businesses in agro-processing.
The Jamaica Business Development Corporation (JBDC) is managing the Increasing the Export Capacity of Micro and Small Agro-Processors Using the Cluster Approach Project which will strengthen the capacity for export of agro-processors, farmers and manufacturers and others along the value chain with special focus on women.
The Grenada Bureau of Standards (GDBS) is responsible for the Marketing and National Importing Board’s Agri-Food Sector Development and Strengthening of the National Food Safety System Project which will improve quality of fresh produce for export by improving the food safety practices of those along the agri-food value chain.
Trinidad and Tobago is set to increase competitiveness by creating a culture of quality and improving the quality of goods and services produced locally through the Building a Quality Culture in Trinidad and Tobago – Implementation of the National Quality Policy Project at the Trinidad and Tobago Bureau of Standards, an agency of the ministry of trade and industry.
