- OECS UBEC project completes stakeholder engagement in Saint Vincent and the Grenadines
The OECS Commission’s Unleashing the Blue Economy in the Caribbean Project (UBEC) Micro-sized Small Medium Enterprise (MSME) Matching Grants team embarked on an intensive multi-stage data-gathering process and engagement with key stakeholders in the tourism, fisheries, and waste management Sectors during the week of March 18 – 22, 2024. The mission provided an opportunity for Ministry officials, Business Support Organisations, and MSMEs to share their thoughts and experiences within the blue economy with the OECS team.
Senior Grants Advisor of the UBEC project, Mr. Kyle Garnes, said that the objectives of these consultations are to obtain feedback and meaningful insights from key stakeholders, measure their receptiveness to the Matching Grants Programme, and develop synergies locally. Mr. Garnes also noted that the consultations come at a crucial time as the region embarks on a coordinated approach to prioritize meaningful initiatives aimed at strengthening the blue economy and amplifying the need for financing to support its related sectors adequately.
Over the four days of consultations, the team engaged in rich dialogue with stakeholders and obtained a wealth of insights. Stakeholders consistently highlighted their successes, challenges, and fragilities of their respective sectors. Through these engagements, the UBEC project is now equipped to roll out a grants programme that closely reflects the needs and operational realities of blue economy MSMEs.
The Regional MSME Matching Grants Programme involves the provision of over USD 4 million in grants to 75 firms within the blue economy over a three-year period. This funding serves to strengthen the competitiveness, operationalisation, and sustainability of MSMEs.
At the end of the mission, the team expressed their deep appreciation for the overall support and contributions made by key stakeholders in Saint Vincent and the Grenadines. The UBEC team will continue to engage in consultations with stakeholders throughout the project cycle to inform them about the project and its activities.
