CDB Launches US$500,000 SheTrades Caribbean Grow & Go Grant Facility

• The Caribbean Development Bank (CDB) initiated the US$500,000 SheTrades Caribbean Grant 

• Empowers women-owned businesses throughout the Caribbean 

• Seeks to enhance the contribution of women to trade and economic development 

The Caribbean Development Bank (CDB) has formally opened the US$500,000 SheTrades Caribbean Grow and Go Grant Facility, a facility aimed at enhancing the competitiveness of women-owned businesses in the region. The virtual launch, which took place on March 27, was a major step towards advancing women's economic empowerment and their participation in international trade. 

The SheTrades Caribbean Grow and Go Grant Facility aims to finance women-owned and women-led micro, small, and medium-sized businesses (MSMEs) in the CDB 19 Borrowing Member Countries (BMCs). The program provides essential financial support to enable these businesses to expand, enter new markets, and enhance their economic resilience. 

In addition to finance, the program provides technical and capacity-building support through the SheTrades Caribbean Hub, in partnership with the International Trade Centre (ITC). Grants of up to US$25,000 are available for all export sectors such as agriculture, creative industries, manufacturing, technology, tourism, and hospitality. The assistance comes in two categories GROW – for building business capability and internal processes. GO – for businesses prepared to export or invest abroad. 

L. O'Reilly Lewis, Acting Director of Projects at CDB, emphasized women empowerment in business, specifically the advent of the digital age, calling it a "strategic imperative" to regional success in the global order. Dr. Judith Fessehaie of ITC's SheTrades Initiative spoke to the program's function in eliminating finance entry barriers Caribbean women entrepreneurs are currently experiencing. 

Lisa Harding, Private Sector Division Acting Head of CDB, emphasized how closing the gender gap in international trade is crucial because women currently own just 15 percent of export businesses they own. She spoke of the prospect of leading the change and placing women at the front line of the world economy. 

The online roll-out engaged over 240 stakeholders who are government and business institution officials as well as international organizations in a demonstration of superb regional and international demand to promote women entrepreneurs. 

Since its launch in 2023, the SheTrades Caribbean Hub has been a pillar for championing economic empowerment of women across the region. In the near future, the Caribbean Development Bank (CDB) will be scheduled to release a Flagship Study on Access to Finance in May 2025 that will guide future action to deliver inclusive and effective financing options for business owned by women.