BRIDGETOWN, Barbados – Stronger trade systems, increased capacity of national institutions and a region better equipped to act on its priorities are just a few of the gains from an €8.7 million Caribbean Development Bank (CDB / the Bank) managed investment programme funded by the European Union across 15 Caribbean countries.
Highlighting the value of strong regional partnerships, practical implementation support and the trade-focused institution-building that formed part of the European Development Fund (EDF) Economic Partnership Agreement Programme (EPA) and CARICOM Single Market and Economy (CSME) Standby Facility for Capacity Building, CDB Division chief, private sector Division, Lisa Harding, noted the accomplishments were seen across key sectors, including trade, agriculture, quality infrastructure, skills training and export development.
“This programme reinforces a lesson we know well. Transformation does not come from agreements alone. It comes from implementation, capable institutions, and sustained partnerships,” Harding said during a recent event to close out the programme.
Since inception, the EPA and CSME Standby Facility Programme has supported 27 interventions across 15 countries in the Caribbean Forum (CARIFORUM) region, engaged more than 100 institutions, and delivered more than 11,000 hours of technical assistance, delivering substantial regional impact.
Barbados’ director of trade, Paula Byer, highlighted the significance of the Standby Facility’s impact on small and vulnerable economies and communities. Adding that while trade agreements created market access, countries could only benefit when they built productive capacity, strengthened institutions and improved competitiveness.
“MSMEs are the backbone of proven economies, yet they face the greatest barriers in international trade. For Barbados, the objectives of this facility and programme align closely with our national development strategy and our commitment to regional integration. A stronger, more integrated CARIFORUM economy allows us to pool our resources, expand production networks, and compete more effectively on the global stage while external partnerships remain critical to our export diversification and sustainable growth,” she said.
European Union’s team leader, economics and trade, Chiara Tardivo, reaffirmed the EU’s commitment to Caribbean integration and competitiveness. She expressed the organisation’s pride having supported the Standby Facility Programme which demonstrated concrete outcomes across the region.
CARIFORUM’s director-general, Alexis Downes-Amsterdam, noted that the Standby Facility demonstrated the importance of pairing market access with practical support. While trade agreements can create opportunities, the director-general said that financing, technical assistance and institutional strengthening were necessary for CARIFORUM States to translate those opportunities into meaningful market presence.
The achievements and impact of the Standby Facility Programme were recently highlighted at a closeout conference in Barbados. The five-year capacity-building initiative supported 15 Caribbean countries in strengthening their trade readiness and competitiveness in regional and international markets. Through targeted technical assistance and grant funding of over €350,000 per participating country, the Programme addressed critical development priorities including trade facilitation, export and value-chain development, technical and vocational education and training (TVET), quality infrastructure, and food safety and certification standards.
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