The Barbados-based Caribbean Development Bank (CDB) has announced a grant of over US$300,000 for a two-year project aimed at boosting business activity in Haiti.
The funding, provided through the Economic Partnership Agreement (EPA) and the Caribbean Community (CARICOM) Single Market and Economy (CSME), is designed to improve economic conditions by facilitating the free movement of goods, services, labor, and skills across the region. The initiative is expected to help strengthen Haiti’s business environment and promote economic growth.
“Under the Capacity Building for Strengthening Quality Infrastructure project we’re signaling our continued support for the Haitian government’s macroeconomic stabilization initiatives; and also strengthening economic growth and poverty reduction prospects.” said CDB’s acting Vice President for Operations Therese Turner Jones.
CDB said that the project, which is being managed by the CARICOM Regional Organization for Standards and Quality (CROSQ), the regional agency responsible for standards, meteorology and quality, is focused on improving private sector development and competitiveness, in an economy critically in need of injections and support.
During the period of implementation CROSQ will work with Haiti’s Bureau Haitien de Normalisation (BHN), a department of the Ministry of Commerce and Industry, to improve the business facilitation environment and to improve the National Quality Infrastructure (NQI). “Quality Infrastructure (QI) refers to the standards and structures needed to facilitate, trade and business development particularly for the protection and reassurance of the consuming public. This action will safeguard those at the end of the value chain beyond supporting economic growth and also benefit exporters and domestic enterprises,” the bank said.
The CDB’s acting director of projects, L. O’Reilly Lewis said that the planned interventions will focus directly on building capacity within BHN to enable it to be better able to provide critical services to its stakeholders.
“Our partners at CROSQ will work with the national body to strengthen Information Communications Technology (ICT) infrastructure and capabilities and improve effectiveness and competence in the provision of conformity assessment while strengthening awareness,” O’ Reily added.
CROSQ is contributing an estimated US$ 22,000 towards the project.
The CDB said the initiative was conceptualized and formalized in response to needs articulated by Haiti’s BHN. The agency cited challenges related to training, equipment and mentoring in market surveillance as well as promotion of its services to increase demand.
The EU is financing the initiative and 17 other trade focused grants across the region though the EPA & CSME Standby Facility managed by CDB. The Standby Facility is a Euro 8.75 million (One Euro=US$1.29 cents) which offers opportunities to 15 Caribbean economies to grow trade, deepen integration and economic involvement, impact competitiveness, market access and exports by implementing targeted projects in thematic areas.
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