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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.
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
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