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Three keys for supporting Caribbean tourism after natural disasters
For the tourism sector, the second most important source of employment in the region, there will be a period of inactivity estimated to last between three to four months. This could reduce the sector’s revenue by as much as 50%, according to the World Travel and Tourism Council.
Four reasons why the Caribbean private sector must invest in renewables
In the Caribbean, the year-round sunshine and extremely favorable insolation levels have not been enough to spur significant investments in renewable energy. Now, a year after the signature of the Paris Agreement, investments in solar energy seem more appealing than ever before, mainly due to four reasons:
Three ways to strengthen financing for private companies in the Caribbean
Growing up in The Bahamas, I remember my grandmother’s asue. There weren’t any banks where she lived on the island of Inagua, and even if there had been, it wasn’t customary for women to frequent them. To adapt, women (and sometimes men) formed their own informal savings groups, known as asues. As her group’s custodian, my grandmother collected a weekly contribution from participants who would then withdraw money on special occasions to cover school fees or larger purchases.
Three ways multilaterals support local banks and drive innovation in the Caribbean
Local banks are a core component of the market architecture in Latin America and the Caribbean with the potential to catalyze innovation and growth. As I return from the Americas Competitiveness Forum in Trinidad & Tobago, my third visit to the country this year, I am reminded how dynamic and innovative its business environment is and how multilaterals can better engage Caribbean business. Here are three ways we support local banks and drive innovation.
Defining Expectations: An interview with Jamaica’s Maureen Hayden-Cater on women and leadership
A Caribbean bank leader highlights her experience promoting gender equality both inside and out Maureen Hayden-Cater, President of Jamaica’s First Global Bank, visited the IDB Group to participate in our speaker series “Promoting Women Leaders in the Private Sector.” The initiative is part of the IDB Group Private Sector’s goal to showcase women leaders in the region and strengthen diversity and gender equality. Before her keynote speech, which will be followed by a question and answer session with IDB Group staff, I reached out to First Global’s President to learn more about what women and leadership mean to her.
The Caribbean Private Sector: How to expand lending
“All cassava have the same skin, but all don’t taste the same way,” is a Caribbean proverb which serves as a reminder that while people may appear alike on the outside, each is quite unique on the inside. The saying, which first originated in Guyana, speaks about the individuality of people, yet it also resonates with me as a development professional when thinking about the diversity of the Caribbean economies. From what I have seen, each country in this region offers a distinct mix of cultural richness, entrepreneurialism, sector expertise, biodiversity, natural resources and much more.