The United States Agency for International Development Eastern and Southern Caribbean Mission (USAID/ESC) in partnership with the Caribbean Community (CARICOM) Secretariat, has launched a new initiative called the Caribbean Business Enabling Environment Reform (CBEE-R) project.
The three-year $8.6 million project will work with the private sector and governments across the region to develop an improved enabling environment for resilient business and investment. It will also engage the private sector in policy assessment, development, and implementation.
The CBEE-R initiative will also focus on areas and reforms that will have the greatest effect on vulnerable populations and will provide economic opportunities for communities and marginalized groups.
It should be noted that USAID works across the Eastern and Southern Caribbean to support the increase in domestic resource mobilization necessary to promote social and economic development. This effort will no doubt complement USAID’s other programmes that accelerate private sector engagement and economic growth—by strengthening a stable and supportive foundation for domestic and international investment leading to further growth in jobs and incomes.
“This initiative will work with businesses and governments to undertake reforms that catalyze economic growth while simultaneously building resilience to disasters and improving risk mitigation in order to create sustainable, strong Caribbean economies,” U.S. Ambassador to Guyana, Sarah-Ann Lynch said.
CARICOM Deputy Secretary General, Dr. Armstrong Alexis, commented that The CBEE-R project will assess the regional business climate as a function of electricity costs, the digital economy, digital financial services, and access to finance, and related policy changes necessary to attract investment and to sustain a healthy business climate throughout CARICOM.
Regional Representative, USAID/ESC, Clinton D. White said, “CBEE-R is another example of our inclusive development partnership and complements ongoing USAID support to build the technical capacity throughout the region to address the impact of climate change, of food security, to provide opportunities to access capital and financing for small and medium enterprises, to provide youth with increased opportunities for jobs and positive living and ultimately to create sustainable, strong locally led Caribbean economies.”
USAID/ESC manages programmes in 11 countries: Antigua and Barbuda, Barbados, Dominica, Grenada, Guyana, St. Kitts and Nevis, Saint Lucia, St. Vincent and the Grenadines, Suriname, The Bahamas, and Trinidad and Tobago.
