International Development Grant
Partnership for CARICOM Private Sector Development
Project Number: CA-3-A034045001
Status: Closed
Country/Region:
Maximum Contribution: $19,950,000.00
Start Date: July 16, 2008
End Date: March 30, 2018
Duration: 9.7 years
Project Description
This project addresses challenges facing the private sector in the member countries of the Caribbean Community (CARICOM) mainly by means of technical assistance. The technical assistance focuses on three areas: (1) Catalyzing private sector participation and investment in transport power water and communications infrastructure. This includes output-based aid initiatives that subsidize the cost of extending infrastructure to disadvantaged areas dependent upon positive results and projected sustainability of the new infrastructure. (2) Enabling financial institutions to increase the number of loans they provide to underserved micro small and medium-sized enterprises (MSMEs) which typically do not have sufficient collateral to qualify for such loans. (3) Promoting regulatory simplification as an aid to private sector development. The project is implemented by the International Finance Corporation (IFC) the private sector arm of the World Bank Group.
Expected Results
The expected intermediate outcomes for this project include: (1) increased private sector participation in economic development for the Caribbean region; and (2) improved solutions to overcome economic development challenges for the CARICOM region.
Progress & Results Achieved
Results achieved as of March 2016 include: (1) provided 21 advisory services with financial institutions that have disbursed over 150 000 small and medium enterprise loans (worth US$3.7B); (2) supported capacity building efforts on public-private partnerships across the region in collaboration with the Caribbean Development Bank (CDB); (3) operationalized four new Credit Bureaus in the Caribbean (Guyana and Jamaica); and (4) achieved some significant Doing Business-related reforms in Grenada Dominica St. Lucia St. Kitts and Nevis. These results have contributed to increasing access to financial services and infrastructure transactions as well as improving the investment climate in the region.
Key Information
Executing Agency:
IBRD Trust Funds - World Bank
Reporting Organization:
Global Affairs Canada
Program:
NGM Americas
Last Modified:
September 19, 2025
Development Classifications
DAC Sector:
Aid Type: Contributions to specific-purpose programmes and funds managed by implementing partners
Collaboration: Bilateral
Finance Type: Aid grant excluding debt reorganisation
Selection Mechanism:
Pre-APP