OECS Trade Finance Workshop targets systemic barriers to SMEs accessing finance to grow their businesses
OECS Press Release
The Organisation of Eastern Caribbean States (OECS) Commission, in collaboration with the World Trade Organization (WTO), International Finance Corporation (IFC), Eastern Caribbean Central Bank (ECCB), CARICOM Development Fund (CDF) and The Commonwealth hosted a Trade Finance Workshop for Banks and SMEs in Saint Kitts & Nevis. This initiative will confront one of the region’s most persistent obstacles to export growth: access to finance for SMEs. The three-day workshop brought together banks, small and medium-sized enterprises (SMEs), business support organizations, and policymakers to tackle one of the most pressing barriers to regional trade growth: access to finance.
SMEs across the OECS continue to face systemic challenges in expanding into regional and international markets. Limited awareness of trade finance instruments, difficulties meeting bank requirements, and fragmented regulatory systems have constrained their ability to grow.
The workshop provides practical training on tools such as letters of credit, guarantees, factoring, and supply chain finance, while fostering dialogue between banks and SMEs to strengthen linkages and reduce financing gaps.
In his opening remarks, the Director General of the OECS Dr. Didacus Jules emphasized the transformational potential of this initiative:
“If we get this right, the payoff is transformational: more competitive exports, increased foreign exchange earnings, greater confidence among MSMEs, better integration into global and regional value chains, and a more resilient and diversified OECS economy.”
He further underscored:
“The Caribbean has never suffered from a lack of ideas. What we have sometimes lacked is alignment: alignment of systems, alignment of institutions, and alignment of effort.”
The OECS Trade Finance Workshop equips banks and SMEs with practical tools to access and deliver trade finance solutions. It fosters dialogue, showcases SME products, and builds partnerships to strengthen competitiveness and expand regional trade. The workshop is designed to equip participants with the following key benefits:
- SMEs equipped with practical knowledge to access and manage trade finance
- Strengthened collaboration between banks, SMEs, and business support organizations
- Policy recommendations to reduce barriers and improve competitiveness
- Networking opportunities to foster innovative partnerships across the region
Marvin St. Louis
OECS Communications Unit