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Sensitization of Banking Sector and
Financial Institutions
Caribbean Export also continued its
sensitisation of the regional banking
and financial institutions about the
DAGS programme, with the aim of
increasing the awareness of these
financial institutions of the funding
scheme and how they may assist
firms in providing loans to finance
their projects. As a result of this
engagement,
Memorandums
of
Understanding (MOUs) were signed
between the Agency and three
financial institutions: the Antigua and
BarbudaDevelopment Bank, Bahamas
Development Bank, and National
Export-Import Bank of Jamaica
Limited.
The Agency also undertook a consul-
tative mission to Jamaica as a part of
efforts to sensitise the Development
Bank of Jamaica (DBJ) about the work
being done in providing access to fi-
nance to regional firms. Specifically,
the Agency met with representatives
from the DBJ to discuss aproposal for
the Bank to transfer its MSME access-
to-finance database on to Caribbean
Export’s Intelligence Portal, under the
access-to-finance sub site. Discussions
about the development and signing of
an MOU to guide the cooperation be-
tween the two organisations ensued,
and the DBJ has responded favourably
to the initial proposal and is expected
to follow up with the Agency on the
final decision taken.
Angel Investor Network Missions
In March and April 2016, Caribbean
Export undertook a series of missions
in support of the formation of Angel
Investor Groups in CARIFORUM. The
overall goals of the initiative is to
support the formation of an Angel
Investment Ecosystem at the national
level, through the engagement of the
relevant stakeholders on the roles they
need to perform to ensure success.
The first mission took place from
March 30-31, 2016 in Suriname, during
which meetings were held with local
high net worth individuals (HNWIs)
to gain insights about their readiness
to become angels, and be part of a
national and/or regional Angel Group.
Guidance was also provided to the
Suriname Chamber of Commerce and
Industry (KKF) on their role in providing
deal flow for a potential Suriname
Angel Group; and capacity building
for candidates identified by the KKF
as potential managers for the Group.
Outputs from the missions included
attendance by 14 potential angel
investors at the Sensitization Seminar,
10 KKF staff members receiving Angel
Sensitization Training for BSOs, and 7
KKF members participating in Angel
Sensitization training for Entrepreneurs
and Group Managers.
During themeeting in Belize, whichwas
held from April 12-13, 2016, capacity
was built for BELTRAIDE through their
Export Belize and SBDC Belize platforms
soastostrengthentheirroleinproviding
deal flow for a potential Belize Angel
Group. This was done through the
provision of a best practices seminar
on angel investing. Training for MSME
entrepreneurs selected by SBDC Belize
and Export Belize, on how to engage
Angel Investors was also delivered,
and meetings with local HNWIs to gain
insightsabouttheirreadinesstobecome
angel investors were convened. Three
potential investors participated in the
meetings,anditisanticipatedthatthese
initiatives will contribute to increasing
access to finance for exporting and
export-ready SMEs, thereby enhancing
their competitiveness.
CIFP/LINK-Caribbean Launch
On September 27, 2016 Caribbean
Export, with support from the World
Bank’s Entrepreneurship Program for
Innovation in the Caribbean (EPIC),
launched the Caribbean Investment
Facilitation
Project
(CIFP)/LINK-
Caribbean; an investment facilitation
programme aimed at enabling early-
stage Caribbean entrepreneurs to
raise capital from private investors
and angel investors. A total of 54
stakeholders were in attendance
including; donors, angel investors,
business support organizations and
enablers, government representatives,
diplomats, entrepreneurs, angel group
managers, and regional press. TheLINK-
Caribbean initiative aims to contribute
towards the development of the
angel investment ecosystem across
the Caribbean; provide investment
facilitation grants to entrepreneurs
seeking investment, as well as non-
ENHANCING COMPETITIVENESS
AND PROMOTING INNOVATION