St Lucia receives CDF grant support for export promotion and village tourism

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Prime Minister Allen Chastanet (L) and Rodinald Soomer, CEO of the CDF, exchange signed agreements

CASTRIES, St Lucia — On Friday, the CARICOM Development Fund (CDF) and the government of Saint Lucia signed two grant agreements for a combined value of US$452,800 (EC$1,222,560), to provide technical assistance to strengthen the institutional infrastructure and implement new programmes for trade competitiveness and tourism development:

i. US$332,800 (EC$898,560) for the development of a revised national export development strategy for Saint Lucia, coordinated by the Trade Export Promotion Agency (TEPA) to strengthen the export capability of the member state; and

ii. US$120,000 (EC$324,000) to establish the institutional framework and roadmap for village tourism, coupled with the provision of business development support to small and medium sized enterprises (SMEs) to enhance their capacity to provide goods and services for the village tourism market.

These agreements constitute the first tranche of support being provided to Saint Lucia during the CDF’s second funding cycle (2015-2020), and will form part of a broader country assistance programme (CAP) intended to deliver benefits to the member state through targeted initiatives in investment, export promotion and enterprise competitiveness.

During the CDF’s first funding cycle, Saint Lucia received US$6.2 million (EC$16.7 million) in support in the form of three grants and a concessionary loan to finance programmes for export promotion, youth agri-entrepreneurship, energy efficiency and SME development.

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