Status: Active

Period of implementation: June 2022 to May 2024

Donor: European Union – 11th European Development Fund

Direct Beneficiary: MSME’s

Implementing Agency: Antigua and Barbuda Investment Authority, ONAO

Donor Contribution: 90,683 EUR

Background:

The Government of Antigua and Barbuda (GoAB) is aware of the importance of MSMEs in creating employment, generating wealth, enhancing revenue streams, and alleviating poverty. Restructuring the economy to ensure the growth of the MSME sector in particular, is critical to realizing inclusive economic development. This is especially important for the advancement of women and youths who are disproportionately employed in the hospitality sector, agriculture/agro-processing, the art and craft sectors as well as internet-based business.

Accordingly, in September 2021, the GoAB applied for funding under the 11th Economic Development Fund for the CARIFORUM- European Union Economic Partnership Agreement and the Caribbean Single Market and Economy (CSME) Standby Facility, which is being managed by the Caribbean Development Bank (CDB).

The funding was approved and airmarked for a project to provide technical assistance (TA) aimed at strengthening the private sector’s capacity to utilise the CARIFORUM-EU EPA and attain greater market penetration within the CSME by building the sustainable export capacity of Micro, Small and Medium Enterprises (MSMEs) through a digitally enabled strategic framework.

Objective: 

To strengthen Antigua and Barbuda Investment Authority (ABIA), Entrepreneurial Development Programme (EDP) and other local Business Support Organizations (BSOs) that support MSMEs through the provision of necessary technical assistance with a focus on developing the export capacity of MSMEs. 

Project description:

The Project will be implemented by the Office of the National Authorizing Officer (ONAO) over a period of 24 months and will target capacity building of private sector MSMEs through three main components, facilitated under two phases.

PHASE 1

Component 1: Development of a three-year Export Competitiveness Strategy for MSMEs. This strategy will seek to enhance the e-business readiness of MSMEs and will also include an export readiness and competitive assessment of the MSME sector. 

PHASE 2

Component 2: Based on the Export Competitiveness Strategy, provide tools that will improve the export capacity of 30 MSMEs in the manufacturing, agriculture/agro-processing, tourism, internet-based business, and the art and craft sectors.

Component 3: Hosting of a trade event where MSMEs will have business-to-business (B2B) meetings in line with target market(s). 

The expected outcome of this TA project will be an enhanced understanding and capacity of BSOs to employ effective support mechanisms in the new post COVID-19 operational environment and a strengthened MSME sector capable of expanding exports into the regional and EU markets using new e-business strategies.