Caribbean Export & EPA Implementation in the Caribbean Servi

6

ACCESS TO FINANCE Small and medium-sized enterprises (SMEs) are an essential element in the Caribbean region’s economic fabric, as they play a crucial role in furthering growth, innovation, and prosperity.

flagship reimbursable funding facility that is specifically designed to provide financial assistance to legally registered firms, individuals, and business support organisations (BSOs) that have the potential to export their products and services. Further, the objective of the Scheme is to open new markets, in particular to capitalise on the benefits of the CARIFORUM-EU EPA, or any other bilateral or multilateral arrangement signed by the region within the region or with African Caribbean and Pacific (ACP) or EU partners; foster intra-regional cooperation to enhance productivity and capitalise

Unfortunately, these enterprises are greatly challenged in accessing the capital they require to expand their business due to the inaccessibility of financing from local banking institutions, as well as the existence of adverse lending conditions. These circumstances not only impede SMEs in their growth, but also have negative consequences for innovation, self- sufficiency, and macro-economic resilience at local and regional levels. Targeted support, such as the Direct Assistance Grant Scheme (DAGS), seeks to address some of these challenges directly at the firm level. The DAGS is Caribbean Export’s