Implementation of the 10th EDF Regional Provate Sector Programme

BACKGROUND

The Caribbean Export Development Agency (Caribbean Export) managed the implementation of the 10th European Development Fund (EDF) Regional Private Sector Development Programme (RPSDP) during the period 2011-2016. The overall objective of the programme was to contribute to the gradual integration of CARIFORUM countries into the World economy and by so doing enhance regional economic growth and by extension alleviate poverty.

The RPSDP is divided into five components, based on the following specific objectives:

1. Enhancing competitiveness and promoting innovation among CARIFORUM’s private sector. 2. Promoting trade and export development among CARIFORUM States. 3. Promoting stronger trade and investment relations between CARIFORUM, French Caribbean Outermost Regions (FCORs), and the European Union (EU) Overseas Countries and Territories (OCTs) in the Caribbean. 4. Promoting stronger trade and investment cooperation between the Caribbean Community (CARICOM) and the Dominican Republic. 5. Strengthening the institutional capacity of Caribbean Export to implement trade and investment promotion programmes in the region. The total programme cost was estimated at €32,089,000 of which €28,300,000 was financed from the 10th EDF Caribbean Regional Indicative Programme (CRIP) in the framework of the Cotonou Agreement, and €3,789,000 by Caribbean Export through contributions from beneficiary states. The programme was signed and became effective on March 7, 2011, and was officially launched on April 20, 2011. The 10th EDF RPSDP closed on December 20, 2016.

The expected results under the five components are outlined below:

Component 1: Enhancing competitiveness and promoting innovation among CARIFORUM’s private sector

Expected Results − Regional Investment Promotion Strategy developed, promoted and implementation initiated. − Investment Promotion Agencies (IPAs), relevant Government ministries, and the Caribbean Association of Investment Promotion Agencies (CAIPA) strengthened to attract foreign direct investment (FDI). − Exporting and export-ready firms provided with financial assistance in areas of product innovation, consumer safety, export diversification, and operational efficiency. − High potential niche sectors 1 identified by the region, strengthened to benefit from CARIFORUM-EU EPA provisions. − Links between educational/training institutions and SMEs strengthened through the development of a regional strategic framework to foster innovation and competitiveness, among others.

1 Sectors Include: Agro Processing, Creative Industries, Financial Services, Health and Wellness, Information and Communication Technology, Manufacturing, Professional Services, Specialized Tourism, and Renewable Energy.

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