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Today the European Union made available 65 million euros or US$24.5 million to small and medium sized business owners in the Caribbean looking to expand and export. It’s phase 2 of the Caribbean Trade and Private Sector Development Program and it was launched this morning at the Radisson Hotel in Belize. The 65 million euros is almost immediately available to those small business owners looking to expand their businesses and penetrate new markets – particularly those in Europe. The program’s Executive Director Phillip Williams says businesses can qualify for a grant of up to $200,000.

Phillip Williams, Director - Caribbean Trade and Private Sector Development Program
“Belizean companies can apply to Caribbean Export for direct financial assistance. We have two schemes. The larger scheme is for projects between 5,000 to 65,000 euros. So a company can apply for up to 70% of the cost of a project, provided it is no more than 65,000 euros and that application will be received and reviewed by a small committee which will include Caribbean Export and the EU. Then there is a soft window for projects between 1,000 and 5,000 euros and the processing there will be done initially by BELTRAIDE in Belize and then forwarded to us. Basically this will allow companies to apply in a number of areas, things which they need to do to support the efforts of their businesses to penetrate regional and ex-regional markets.”

Roberto Harrison, General Manager – BELTRAIDE
“Programs that will benefit manufacturing and the service sector of Belize, practically any Belizean can apply to the program. There is a maximum of 65,000 euros, equivalent to about $200,000 that Belizean, small and medium enterprise can benefit from. BELTRAIDE has the human resources to prepare proposals. We’re enthusiastic, we’re willing to support small and medium enterprises to buy into the program because we are quite sure that they will benefit from the grant that will be offered to them.

We are accepting basically everybody except the tourism sector because the tourism sector in the Caribbean region has its own program. Be it a product, be it a service, handicraft, agro-business, anything of that sort that has export potential as well and can become sustainable in the next three to five years I am quite sure will be winning proposals, winning projects for grant financing from this program.”

If you’re interested in applying, you can contact BELTRAIDE in Belmopan. There will be a six week window to apply which begins in September. It will be processed locally and then forwarded to CARIFORUM’s head office.