The Barbados-based Caribbean Financial Services Corporation (CFSC) has received funds of Ђ8 million from the European Investment Bank (EIB) to further its work in helping to launch and develop small- and medium-sized enterprises (SMEs) in the Organisation of Eastern Caribbean States (OECS) and other parts of the region.
Following the signing, CFSC’s managing director, Hazel Highland, said that since its inception 19 years ago, the CFSC has received and disbursed US$90 million in loans. These monies had funded approximately 260 projects and generated US$86.6 million in foreign exchange earnings. A full 76 per cent of the projects were SME start-ups. “This Ђ8 million will allow us to fund ongoing activities in loans and equities,” she said.
