Financial Inclusion of Small and Medium Enterprises (SME’s) in the Eastern Caribbean Currency Union
The German Savings Banks Foundation for international Cooperation (SBFIC) of Bonn, Germany with the St. Lucia Chamber of Commerce Industry and Agriculture as a Partner is implementing an ECCB endorsed project which seeks to help in the strengthening of the financial sector and improving access to financial services in the Eastern Caribbean Currency Union by SME’s. The Pilot Phase is in St. Lucia.
The main focus of the project include inter alia:
- Widening loan services supply to private SME by local financial institutions by strengthening the sustainability, know-how and the product range.
- Strengthening of business literacy, the financial education for individuals, and entrepreneurs of private SME.
The overall objectives are as follows:
- Improve SME’s access to financial services by strengthening the sustainability, know-how and the product range of selected financial institutions.
- Increase the Financial Literacy of Small Enterprises by providing business training and business coaching.
- Increase synergies among indigenous banks by establishing a joint service provider for the financial sector as a potential cooperation model.