Dismissing concerns being expressed here that local small businesses may not be benefiting – compared with their counterparts in other Cariforum countries – from financial resources for enhancing growth and building capacity available through the Caribbean Export Development Agency (Caribbean Export, Deputy Permanent Secretary in the Ministry of Commerce Dhaneshwar Deonarine is urging that they submit proposals for Direct Assistance Grants under the 10th European Development Fund (EDF).
Deonarine is Caribbean Export’s Guyana board member.
Concerns had been expressed by some local businesses that information on funding and other types of support available through Caribbean Export do not reach them in a timely manner but Deonarine told a gathering of small business owners, managers and other stakeholders at a forum on Tuesday last that Guyana was satisfied that there was “absolutely no favouritism” in deciding which countries benefit from resources available through the regional body.
Caribbean Export is a European Union-supported entity that serves the 15 Cariforum member countries by promoting trade, export development and investment both among countries of the region and the rest of the world. Its pursuits are undertaken in collaboration with the EU, the Inter American Development Bank, the Caribbean Development Bank and the United Kingdom Department for International Development. The major tool of Caribbean Export for providing financial assistance is its Direct Assistance Grant Scheme funded by the European Union. The scheme is designed to support businesses with a strong potential for exporting their products or services but which may lack the financial and technical resources to realise that objective.
Deonarine told the forum that arising out of a “call for proposals” published by Caribbean Export in June last year Guyanese entrepreneurs submitted 15 proposals and secured six grant awards. By comparison Jamaicans submitted 107 proposals and secured 29 awards, Barbados submitted 44 proposals and secured 9 awards and Trinidad and Tobago submitted 43 proposals and secured 12 awards. Deonarine said that of the 15 Guyanese proposals received following the “call” in June 2012, 14 applicants secured a passing score and were ranked within the available financial envelope. The six who were awarded grants secured funding totalling €177,345.08.
Two “calls for proposals” launched by Caribbean Export during the period October 2011 – June 2012 resulted in 142 Cariforum firms being awarded grant contracts totalling €2.7 million.
The 9th EDF Direct Assistance Grant Scheme which spanned the period 2008-2010 saw the allocation of 197 grants valued at €2.7 million. Funding for the
142 firms which benefited from those grants was distributed among entities in the agriculture, aquaculture and fisheries sector which accounted for 16% of the overall grant, agro processing (19%), business support organizations (6%) fashion (6%), health and wellness (4%), ICT (1%), manufacturing (28%), professional services and tourism (9%).
Caribbean Export is the only regional development and investment promotion agency in the African, Caribbean and Pacific Group. The agency was established in 1996 by an inter-governmental agreement as the trade promotion body for the 15 member countries of Cariforum.
