CDB LAUNCHES CLIMATE-SMART AQUAPONICS PROJECT — Bridgetown, Barbados, August 26, 2022
The Caribbean Development Bank (CDB) is expanding its collaboration with INMED Partnerships for Children/INMED Caribbean to enhance the capacity of small-scale farmers to implement climate-adaptive aquaponics farming in Antigua and Barbuda, Barbados, Grenada, Saint Lucia, and The Bahamas. The project combines aquaculture (fish farming) and hydroponics (soilless crop production) in a closed symbiotic system, dramatically conserving water and space compared to conventional agriculture and yielding up to 10 times more abundant fresh produce plus fish year-round. “As economic opportunities for small-scale farmers decline amid significant climate change impacts, it is imperative to introduce viable, income-generating livelihood alternatives, particularly among our MSMEs,” said Lisa Harding, Coordinator MSME Development at CDB. INMED Caribbean first introduced aquaponics to Jamaica in 2011 and has implemented two dozen systems throughout the island for schools, charitable groups, civic organisations, small farm cooperatives and communities.
CDB PARTNERS WITH ECSRC FOR MSME EQUITY CROWDFUNDING — Bridgetown, Barbados, August 24, 2022
Building on the Caribbean Development Bank’s focus on innovation and increasing access to financing, the regional financial institution has partnered with the Eastern Caribbean Securities Regulatory Commission (ECSRC) to develop equity-based crowdfunding in the Eastern Caribbean. Through the 18-month project funded by CDB and implemented by the ECSRC, a viable equity crowdfunding platform will be established in Eastern Caribbean Currency Union member countries by 2023. Crowdfunding is an innovative, technology-based activity which utilises online platforms to effectively connect potential individuals, firms and groups seeking to raise capital with potential funders. There are approximately 20,000 MSMEs in the Eastern Caribbean which comprise 95% of enterprises and contribute 50% of GDP and employment. Access to finance remains a major impediment to growth for Caribbean MSMEs, and crowdfunding offers an alternative financial instrument that provides new avenues for investment in underdeveloped capital markets.