Opportunity for Caribbean Fishermen: OECS promotes business expansion with MSME programme

Caribbean: The Organization of Eastern Caribbean States has launched Regional MSME Matching Grants Programme under their UBEC project, to help Caribbean fishermen expand their businesses.  

This programme will be available to farmers across Saint Lucia, Saint Vincent and Grenadines, and Grenada. The deadline to fill the application is 13th December 2024.  

The initiative will provide eligible farmers, specific grants ranging from $5000 to $25000. These grants are meant to provide micro, small and medium size enterprises to thrive better in the blue economy.  

According to OECS this project will help the fishermen to upgrade their facilities into more modernized facilities with updated equipment.  

This will help them manage their produce and create opportunities for an enhanced market presence and increased productivity.  

The money granted will also help the fishermen to expand their operations to reach new heights and improve their marketing efforts. This will help them secure more profit, which could ultimately drive the local economy.  

ELIGIBILITY FOR MSME MATCHING GRANTS PROGRAMME 

In order to be eligible to apply for the MSME Matching Grants Programme, the applicants should meet the following eligibility criteria.  

• The applicant should be a legally registered citizen of Saint Lucia, Saint Vincent and Grenadines, and Grenada.  
• The applicant will also need to provide legal documentation of their business registered within their country of operation.  
• The business or enterprise should be in operation for at least 2 years. To prove this applicant will need to provide financial statements for the last two years.  
• The applicant needs to demonstrate the business’s commitment to growth and creating more opportunities for others in the community.  
• The applicant should provide the track record of business for last year, indicating a promotion of the blue economy.  
• The applicant should also showcase their personal financial health through attached statements of their bank accounts.  
• The MSME should follow sustainable practices and should not include any such project or product that degrade the natural habitat.  

ABOUT THE UBEC PROJECT 

The MSME Matching Grants Programme is an initiative held by OECS under their UBEC project. The Unleashing the Blue Economy of the Caribbean (UBEC) is an initiative by the OECS to promote the small island states’ fishing and related industries.  

It is designed to generate international support and sustainable investment options for the developing island states. This project is being funded by the World Bank aiming to strengthen the blue economy.