Regional MSME Matching Grants Programme to launch Window 2 in Grenada

The Regional Micro, Small and Medium Enterprises (MSME) Matching Grants Programme, which aims to enhance their capacities in the Blue Economy in the three island-states of Grenada, St. Lucia and St. Vincent and the Grenadines will launch Window 2 virtually at 10:30 am local time on February 12, 2025. The deadline is at 11.59 pm on March 19, 2025. A Zoom link has been issued to access the event. While the Meeting ID is 867 8140 9842, the passcode is 122117.

The matching grants programme falls under the Unleashing the Blue Economy of the Caribbean (UBEC) initiative which eyes the region’s sustainable development, economic resilience, and environmental preservation. 

The call for proposals under Window 2 includes MSMEs in the marine and coastal tourism industry, fisheries industry and the marine waste management industry. The MSME Matching Grants Programme aims to build capacity to deliver the MSMEs’ needed services in the three mentioned areas. 

MSMEs within value-chain groups

Funded by the World Bank and designed by the Organisation of Eastern Caribbean States (OECS), the grants programme has invited MSMEs within value-chain groups of several firms working together in the coastal tourism, fisheries and waste management sectors of the three Caribbean island-states to apply under the programme to boost their businesses.

The MSMEs involved in the coastal tourism industry who have been encouraged to apply under the programme include tour guides, small beachside hotels, dive shops, dive equipment suppliers, leisure boat operators, and beachside restaurateurs.

Those related to the fisheries industry invited to apply are those involved in practices such as purchasing fishing equipment or upgrading fishing vessels.

In the waste management sector, MSMEs involved in waste collection and recycling, composting and organic waste processing, waste-to-energy initiatives, sustainable packaging solutions, and hazardous & e-waste management can apply.

Grants between US$ 100,000 to US$ 200,000

It offers grant amounts ranging between US$ 100,000 and US$ 200,000. 

In the coastal tourism industry, the grants received can be used for upgrading technology, introducing innovative and sustainable tourism practices, upgrading facilities and scaling up operations to attract more visitors.

In the fishing sector, the beneficiaries could purchase with the grants fishing equipment, upgrade fishing vessels, invest in cold-storage solutions, and improve packaging and transport and distribution. 

In the waste management sector, the grants can be utilized for upgrading waste collection systems and waste processing facilities, developing storage solutions and buying recycling equipment.

For a business under the blue economy to receive funding from the Regional MSME Matching Grants Programme, one must fulfil some criteria. The business must be registered in Grenada, St. Lucia, and St. Vincent and the Grenadines. 

It must provide articles of incorporation, business name registration or any other documentation which substantiates the entity’s legal character in the country where it is run. The business must also be in operation for two years, must have less than 50 employees and generate under a billion US dollars a year.

What is a value-chain group

A value-chain group consists of businesses and stakeholders working in tandem to create, deliver and enhance products or services within a given sector. 

In the marine tourism sector— it can include activities such as planning boat tours to conducting dive excursions.

In the fisheries sector, seafood processors and distributors can come together to deliver sustainable, high-quality seafood to both local and foreign markets. 

In the waste management sector, collection and sorting to recycling and final disposal can come under the value-chain group. Each stage enhances value by improving efficiency, sustainability, and environmental impact!

The MSME programme backs value chain groups of at least 3 MSMEs, which means helping in building stronger connections, increasing productivity, and embracing climate-resilient practices. A stronger value chain means a robust, resilient and profitable blue economy, one of the major pillars of the Caribbean island-states’ sustainable development.

The regional MSME Matching Grants Programme, which aims to finance business development services to improve productivity, generate jobs and upgrade the MSMEs’ capabilities and resilience, provides support through two distinct windows – individual MSMEs (Window 1) and value-chain groups (Window 2). Both are designed to empower the tourism, fisheries and waste management sectors of the MSME in the blue economy.