The Caribbean Development Bank (CDB) officially launched the SheTrades Caribbean Grow and Go Grant Facility, a programme aimed at improving the competitiveness of women-led businesses across the region.

In a virtual launch on March 27 highlighting the CDB’s commitment to advancing women’s economic empowerment and boosting their participation in international trade, the regional bank announced its allocation of US$500,000 to the programme.

“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,” stated CDB Acting Director of Projects, highlighting the importance of investing in women-led firms, particularly in the era of digital transformation.

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

Eligible businesses falling in the exporting sectors such as agriculture, creative industries, manufacturing, technology, tourism, and hospitality services can apply for grants of up to US$25,000. Funding is provided through two streams: ‘GROW’—for firms enhancing internal capacity and systems; and GO—for businesses ready to export or expand internationally.

Dr Judith Fessehaie, Head of the Women and Trade Programme, SheTrades Initiative at the ITC, 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,” she elaborated.

Since its establishment in 2023, the SheTrades Caribbean Hub has emerged as a pioneering vehicle for women’s economic empowerment. CDB is also preparing to release the findings of the Flagship Study on Access to Finance in May 2025 which 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.

Lisa Harding, CDB’s acting head of the Private Sector Division, underscored the urgency of closing the gender gap in international trade, noting that women lead only 15 per cent 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,” she said.