What’s this component about?
This component develops the key information necessary for planning future private sector development and competitiveness enhancing initiatives. The projects that are undertaken under this component are intended to increase regional and national consensus on the strategic and priority actions needed to promote private sector development; increase the synergies among donor-supported projects; and generally strengthen knowledge in the region by sharing best practices, lessons learned and new innovative ideas.
What has been funded?
- This Component has financed private sector assessment reports (PSARs) in each country, using a standard methodology developed especially by the Program. The PSARs identify, guide and prioritize the set of interventions needed in each country and those needed regionally to improve competitiveness. A regional Caribbean Report has also been developed. These reports can be found on the Studies and Reports page of this website.
- Donor matrices (DMX) for each country has been financed. The matrices are posted on the Studies and Reports page. DMXs have helped the Program avoid duplications, inefficiencies and fragmentation and to develop synergies and maximize the impact of the development projects by improving coordination and alignment among the Donors.
- Financing has also been committed to projects that generate knowledge such as studies in strategic sectors and projects that disseminate knowledge either through exchange forums or through national or regional events that bring key practioners and thinkers together to share lessons learned and best practices.
Knowledge Management Projects
Caribbean micro-entrepreneurs as well as small businesses find it difficult to access financing on favorable terms, which limits their ability to grow and develop, which in turn, has a negative impact on the private sector in the region. This project focuses on issues and activities to strengthen the micro-finance institutions (MFIs) in the region under the premise that sound, good performing institutions will be better able to serve their micro-business clients. It examines: (a) the case for strengthening regulation of micro-financing institutions in the region; (b) a comparison of â€œprudentialâ€ versus â€œnon-prudentialâ€ regulation; (c) the concept and implication of â€œself-regulationâ€ and supervision; (d) an analysis of the existing regulatory arrangements for MFIs in each Caribbean country, their effectiveness and how they impact financial services for MSMEs; (e) the sustainability challenges facing various types of MFIs in the region, especially credit unions.
The project provided 8 studies to lead panel discussion sessions at the Americas Competitiveness Forum in 2011 in the Dominican Republic. The studies were:
- Renewable Energy: Best Practices in Promotion and Use for Latin America and the Caribbean
- Strategic Analysis of Competitiveness and Innovation in the Tourism and Telecommunications Industries
- Innovation in Services: The Hard Case for Latin America and the Caribbean
- Perspectives for Distributed Generation with Renewable Energy in Latin America and the Caribbean
- Logistics as a Driver for Competitiveness in Latin America and the Caribbean
- Logistics as a Competitiveness Factor for Small and Medium Enterprises in Latin America and the Caribbean
- Simplification of Procedures to Promote Competitiveness: One Stop Shop and Other Instruments that Improve the Business Climate in Countries
- Innovation and Entrepreneurship: A New Model of Development for Entrepreneurs
Impact Investing is an emerging industry which entails investors actively placing capital in businesses and funds that generate social and/or environmental goods and at least return nominal principal to the investor. This project partnered with the IDB’s Multilateral Investment Fund (MIF) to examine the existing impact investment activities in Barbados, the Dominican Republic, Haiti, Jamaica and Trinidad and Tobago; the feasibility of increased activity in this area including the demand for and availability of such financing; and the role of government policy in creating an enabling environment for impact investment in the region.
This project partners with the IDB’s Multilateral Investment Fund to study sustainable agriculture in Barbados, Belize, Guyana, Jamaica, Suriname, The Bahamas and Trinidad and& Tobago. It examines current developments in sustainable agriculture in this country, analyses specific challenges, and identifies opportunities, taking into consideration trade liberalization, food safety, quality and security, rising food prices, the expansion of niche markets, diversification, climate change and environmental sustainability.
This project analyses the impact of Productive Development Polices in The Bahamas, Belize, and Suriname using the â€œProductive Development Policiesâ€ framework developed by Ricardo Hausmann and a team at Harvard University. It complements similar analyses undertaken by the IDB on Barbados, Jamaica and Trinidad and Tobago that were completed in order to achieve a better understanding of PDPs in the region.