BRIDGETOWN, Barbados – The Barbados-based Caribbean Development Bank (CDB) Friday said that it is participating in a project intended to strengthen the business management, digitalisation, and resilience of micro, small, and medium-sized enterprises (MSME) in the Turks and Caicos Islands.
The region’s premier financial institution said that through its Private Sector Division, it is partnering with Invest Turks and Caicos to carry out the project through to November 30,and that the bank’s flagship MSME technical assistance programme, will provide technical and financial support with a focus on digital and social media marketing, business continuity planning, and financial literacy and management.
“Providing technical assistance in these areas reflects CDB’s commitment, through CDB|PROPEL, to strengthening the managerial and operational capacity of MSMEs in the Turks and Caicos Islands,” said Michel Thomas, Senior Operations Officer within the CDB’s Private Sector Division.
“The initiative aims to build resilience, expand access to finance, improve competitiveness, and create opportunities for increased revenue.”
More than 30 MSME owners, managers, and employees in the tourism, transportation, agriculture, and creative sectors are expected to benefit from training workshops and follow-up, one-on-one technical assistance.
This support will help participants apply the knowledge and information gained to improve their businesses’ operations and competitiveness.
The chief executive officer of Invest Turks and Caicos, Angela Musgrove, said Invest Turks and Caicos is pleased to partner with the Caribbean Development Bank on initiatives that equip entrepreneurs with practical tools to reach customers, strengthen financial management and decision-making, and support business growth.
“We recognise that financial literacy, digital marketing, and business continuity planning are essential to building strong, sustainable businesses, and we value the bank’s continued support for the development of the Turks and Caicos Islands business community. CDB has long supported capacity-building initiatives such as these, and we look forward to continuing our partnership as we strengthen and support local entrepreneurs.”
