IFC, a member of the World Bank Group, with support from Canada’s Department of Foreign Affairs, Trade and Development (DFATD) and in collaboration with the Caribbean Association of Banks (CAB), today launched a workshop in Castries to help Caribbean financial institutions better serve the banking needs of small and medium enterprises.

The Caribbean is home to approximately 2.2 million micro, small and medium enterprises, which are essential to creating jobs and providing goods and services.Yet one third of these entrepreneurs identify access to credit as a key obstacle to growing their businesses.

“SMEs are a fast growing sector and the engine of growth in many economies. The CAB therefore, supports every effort to provide training and build capacity within the sector,” said Ms. Joanna Charles, President of the Caribbean Association of Banks. “Banks are encouraged to consider SME financing as one of their top strategic priorities.”