ABDB assists in enterprise competitiveness & export potential

The Antigua and Barbuda Development Bank (ABDB) and the Caribbean Export Development Agency (Caribbean Export) signed a memorandum of understanding (MOU) that allows legally-registered firms, individuals as well as business support organizations (BSOs) in Antigua and Barbuda to be in a better position to export their products and services throughout the Caribbean region and/or to international markets. This agreement between the ABDB and Caribbean Export provides the type of institutional support necessary to facilitate access to grant funding for local businesses under Caribbean Export’s Grant Scheme. The scheme supports the building of production capacity through training and personal development, facilitating trade mark, intellectual property and the protection of copyright material as well as the opening of new markets, improve competitiveness of firms to identify new sources of supply for raw materials and further increase competitiveness. Antigua and Barbuda-owned firms that qualify for assistance under the Direct Assistance of the Grant Scheme could obtain bridge financing from ABDB. The signing of the MOU signals the commitment of ABDB to ensure that local firms achieve and maintain a competitive edge and in addition, enhance their ability to grow their businesses by taking advantage of opportunities to export to new markets.

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