CDF Team Mr. Eugene Williams, Resource Mobilization Officer and Mr. Tsarrio Millard CRAF Technical Assistance Specialist meeting Mr. Bradford Worrell, Manager of the Rodney Bay Aquatic Center.

The cost of energy in the Caribbean continues to be among the highest in the world, stifling SME growth and competitiveness. Exacerbating this reality is SME’s limited access to capital for investments in vital renewable energy and energy efficient projects. The CARICOM Development Fund (CDF) – through its Credit Risk Abatement Facility (CRAF) and Article 164 Programme of Support Measures – is accelerating support to SMEs to overcome those barriers to improve profitability, expand operations and reduce their contribution to greenhouse gas emissions.

From July 8-11, a team from the CDF visited Saint Lucia and held in-depth consultations with 15 SMEs benefiting from CRAF technical assistance, including 5 Article 164 manufacturers who are taking the next steps towards energy transition and increased competitiveness. The team also held discussions with the Bank of Saint Lucia and the Saint Lucia Development Bank – CRAF financing partners in Saint Lucia – on additional capacity building opportunities to strengthen the Banks’ ability to assess energy projects and ultimately accelerate the implementation of CRAF.