- CDB Funds Project to Develop New Strategic Plan for CED
A project that is designed to reposition the Centre for Enterprise Development Inc. (CED) as a catalyst for transformation in the Micro, Small and Medium Enterprises (MSMEs) sector in St. Vincent and the Grenadines was today launched by the Caribbean Development Bank (CDB).
The project, which is funded to the tune of US$44,200, will develop a five-year strategic plan for the CED, and reflects the CDB’s shared commitment to raise the quality of life for everyone by enabling economic resilience, social equity, and environmental sustainability.
Speaking at the launching ceremony at the CED Conference Room, Lisa Harding, Acting Head of Private Sector Division at the CDB, emphasized the importance of the project towards strengthening CED’s capacity to deliver services that will improve private sector development.
“This Strategic Plan is not just a roadmap; it is a reimagining of CED’s role in a rapidly evolving economic landscape. It will expand CED’s reach beyond traditional advisory services to emerging growth sectors like renewable energy, digital innovation, and the creative economy; embed climate resilience, sustainability, and advocacy at the heart of MSME development; create robust monitoring and evaluation systems to ensure accountability, agility, and continuous learning; and strengthen MSMEs in critical areas like management, leadership development, innovation, and market access.”
She noted that the Country Engagement Strategy 2022-26 Saint Vincent and the Grenadines aligns closely to the government’s National Economic and Social Development Plan (2013-2025), which seeks to build a resilient, diversified economy that creates jobs, reduces poverty, and improves the quality of life. Harding said the partnership with the CED is part of the CDB’s strategic vision of a future that is guided by the pillars: innovate, transform and thrive.
“By equipping MSMEs with the tools, networks, and support they need to grow, we are investing in a future where innovation drives productivity, competitiveness fuels exports, and resilience is built from the inside out,” Harding stated. “As the Strategic Plan takes shape, we anticipate enhanced policy frameworks that support entrepreneurship and innovation; increased business formalization and access to finance, greater competitiveness of MSMEs across all sectors; and ultimately more robust participation in global and regional value chains.”
Ronette Lewis, General Manager at the CED, welcomed the partnership, which she said, comes at a crucial time when the organization is moving to strengthen its institutional framework and chart a more focused and impactful way forward. She described the Strategic Plan as “blueprint” that would guide the CED as it evolves to better meet the challenging needs of the broader economic landscape.
Lewis expressed gratitude to the CDB for its continued support and commitment towards strengthening institutions like CED and fostering development in the region.
“With this support, we are not just building a plan. We are building a future where innovation and economic growth go hand-in-hand. A future where entrepreneurship is accessible, equitable, and sustainable. A future where CED becomes an even stronger catalyst for economic development and resilience in St. Vincent and the Grenadines.”
Lewis said with the world facing some unprecedented times, the region must implement new strategies in order to survive.
The project launch also got an overview of the project from Allyson Francis, Operations Officer for MSMEs in the Private Sector Division at the CDB, and was attended by stakeholder agencies and the local media.
While in St. Vincent, the CDB team also conducted a consultation with stakeholders in private sector development.
