With small businesses in the creative sector in parts of the region frequently bemoaning what they say are the difficulties associated with accessing the financial means to grow their enterprises, the Caribbean Development Bank (CDB) is intervening to strengthen the capacity of regional development finance institutions to objectively appraise applications for funding for projects in the sector.
In Guyana and reportedly in other parts of the region, businesses in the creative sector have bemoaned the fact that their applications for growth and expansion-related funding have been rejected on grounds which suggest that the evaluation tools utilised by the lending institutions are inadequate to provide a proper appraisal of the veracity of their loan applications. Accordingly, the Bank has announced that it will be facilitating a regional workshop through its Caribbean Technological Services (CTCS) network in thirteen of its member countries, including Guyana, to put development finance institutions in a better position to enhance the capability of those businesses so as to be able to serve them in the regional creative sector.
