CDB launches facility to assist Women-led businesses

The Caribbean Development Bank (CDB, the Bank) has officially launched the US$ 500,000 SheTrades Caribbean Grow and Go Grant Facility, a programme aimed at enhancing the competitiveness of women-led businesses across the region. The Bank said the virtual launch, held on March 27, 2025, marked a major step toward advancing women’s economic empowerment and boosting their participation in international trade.

The SheTrades Caribbean Grow and Go Grant Facility targets women-owned and led micro, small, and medium-sized enterprises (MSMEs) in CDB’s 19 Borrowing Member Countries (BMCs). It provides essential financial support for scaling businesses, expanding into new markets, and strengthening economic resilience, the Bank’s release also stated.

Additionally, the programme offers technical and capacity-building support through the SheTrades Caribbean Hub, a partnership with the International Trade Centre (ITC).

Eligible businesses can apply for grants of up to US$25,000, available for enterprises in all exporting sectors, including agriculture, creative industries, manufacturing, technology, tourism, and hospitality services. Funding is provided through two streams: GROW – for firms enhancing internal capacity and systems, and GO – for businesses ready to export or expand internationally.

CDB’s Acting Director of Projects, L. O’Reilly Lewis, highlighted the importance of investing in women-led firms, particularly in the era of digital transformation.

“In an era where global competition is intensifying and markets are rapidly evolving, empowering women in business is not just the right thing to do, it is a strategic imperative. By investing in their success, we are fortifying our region’s position on the global stage, ensuring that women-led businesses not only thrive but lead in this new, interconnected world.”

Head of the Women and Trade Programme, SheTrades Initiative at the ITC, Dr. Judith Fessehaie emphasised the significance of the fund in removing financial barriers which Caribbean Women MSMEs face.

“By breaking financial barriers, this initiative ensures that more women can participate in and benefit from international trade.”

CDB’s Acting Head of the Private Sector Division, Lisa Harding underscored the urgency of closing the gender gap in international trade, noting that women lead only 15% of such businesses.

“What’s even more concerning is that at the current pace of progress, it could take more than a century to bridge this gender gap. But I believe we are at a turning point, today, we have the opportunity to not only speed up the process but to build a future where women are at the forefront of international business and trade. Let’s discuss how we can make that future a reality, right now, in our region and beyond.”

The launch saw participation from over 240 members of the SheTrades Caribbean Hub, alongside representatives from Gender Affairs Anguilla, Invest Turks and Caicos, Cayman Islands Chamber of Commerce, Export Barbados, BELTRAIDE, the Inter-American Development Bank, Compete Caribbean, and PowerHerful Women Centre of the JMMB Group Limited.

Since its establishment in 2023, the CDB said SheTrades Caribbean Hub has emerged as a pioneering vehicle for women’s economic empowerment. CDB also said it is preparing to release the findings of the Flagship Study on Access to Finance in May, 2025, that will inform future actions towards more equitable access and effective financing models for women-led businesses.

Women entrepreneurs interested in applying for the SheTrades Caribbean Grow and Go Grant Facility must be legally registered, operating in one of CDB’s 19 BMCs, and be registered members of the SheTrades Caribbean Hub. Applications will be evaluated based on criteria including the comprehensiveness of the funding proposal and participation in capacity-building programmes.