The St. Lucia-based Organisation of Eastern Caribbean States (OECS) Commission says it will launch the second call for proposals for the regional MSME matching grants programme on Friday, saying the initiative presents a golden opportunity for blue economy entrepreneurs.
The programme is a flagship component of the Unleashing the Blue Economy of the Caribbean (UBEC) Project, which seeks to strengthen blue economy value chains, promote sustainable entrepreneurship, and improve livelihoods across the OECS.
The Commission says that by supporting MSMEs in fisheries, marine tourism, and waste management, the programme not only drives economic growth but also contributes to environmental sustainability and food security.
Funded by the World Bank and implemented by the OECS Commission, ‘UBEC is building a resilient, competitive, and sustainable Blue Economy across the Eastern Caribbean,’ the Commission said.
It said that micro, small, and medium enterprises (MSMEs) operating in fisheries, marine tourism, and waste management now have the chance to strengthen and expand their businesses with grant funding ranging from US$5,000 to US$25,000. T
The Commission said that the project is already transforming businesses and improving livelihoods in Grenada, St. Lucia, and St. Vincent and the Grenadines, with MSMEs in the three participating islands already being awarded grants from the previous call for proposals earlier this year.
‘The regional MSME matching grants programme continues to make significant strides in advancing blue economy efforts within the OECS. To date, 28 grants valued at over US$500,000 have been awarded to MSMEs,’ said UBEC’s senior grants advisor, Kyle Garnes.
‘In addition, the programme has begun delivering tailored capacity-building and training services to MSMEs in waste management, fisheries, and tourism. Training has already commenced in St. Lucia, with more than 25 MSMEs actively participating, while rollouts in Grenada and St. Vincent and the Grenadines are scheduled for the weeks of October 13, and October 20.’
The Commission said that individual MSMEs in the three OECS countries may be may be eligible if they are legally registered and have been in operation for at least two years, with supporting financial or bank statements.