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A Caribbean Ferry Service?

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How many times has this promise been dangled in front of us in the last few years? As the regional airline service became more unreliable and outrageously expensive, there have been several announcements of a regional ferry service which even occupied the attention of CARICOM Heads of Government. It went as far as a supposed schedule being published with starting dates and all, emphasizing that it would be cheaper, more convenient and reliable than available air services.

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All this was happening as the only truly regional air service that we could count on, LIAT 1974 Ltd, was going through what turned out to be its death throes. By a twist of fate, the latest pronouncement on the promised regional ferry came just as LIAT was announcing its final flight. Maybe we were supposed to feel that all is not lost. Is this initiative intended as a palliative? Those behind it have promised that the proposed venture will offer a reliable service to the Eastern Caribbean and would have positive economic spinoffs.

Welcome as any regional ferry service undoubtedly would be, there are still many unanswered questions. In an area where the people in the various islands can literally see their counterparts in neighbouring islands, it is ridiculous that water should be a barrier to our collective development.

Why should the sea be a drawback to our freedom of movement in the Caribbean?

The case for a regional ferry does not have to be made again.

If we take the area from Guyana up to the Leeward Islands, there is a population of almost 4 million people and a potential tourist market of more than 3 million, just waiting to be served. From a customer level the case is already made.

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Yet we have been unable to make this a reality. We have had a flurry of announcements in recent weeks including one by the governments of Guyana, Barbados and Trinidad and Tobago for instance of the impending formation of a company to provide ferry services not only between these three countries but with extensions to other countries in the Windward islands.

Then CEO of Windward Ferries Tore Torsteinson who will also be in charge of the ferry division of the lead company “Connect Caribe” disclosed that his company is in discussions with regional leaders about how to operationalize the project. He said that plans are to use vessels with a capacity of up to 800 passengers plus cargo with a modest standard fare of US $100 plus government charges. (Airline experience has been that such charges can be significant). He disclosed that it is planned to begin operations by late 2024, starting with the Guyana-Trinidad-Barbados route and expanding to other islands to the north, including SVG.

A number of issues need to be clarified. First, is this a joint private sector/public sector one or entirely a private sector investment? What is the expected role of the government(s) in it?

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Which governments will be involved? Then, related to this first issue is the matter of investment funding. Are government subsidies envisaged? Or will governments be expected to provide the enabling environment – legislative, administrative and otherwise?

Then there is, of course, the critical matter of the viability of such an enterprise. There are a lot of lessons we ought to have learnt from LIAT- some very bitter pills to swallow. Let us not be innocent lambs going to the slaughter this time. It is time for us to demonstrate our maturity as a developing people, committed to regionalism and conscious what such an enterprise can do for regional development. Some clarity please!

SOURCE: Searchlight

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REQUEST FOR EXPRESSIONS OF INTEREST

(CONSULTING SERVICES – INDIVIDUAL SELECTION)

 

OECS MSME Guarantee Facility Project

Loan No.: IDA-62670, IDA-62660, IDA-62640, IBRD-88830, IDA-62650

Assignment Title: Senior Operating Officer (SOO)

Reference No. KN-ECPCGC-207852-CS-INDV

 

The Governments of Antigua and Barbuda, Commonwealth of Dominica, Grenada, St. Lucia and St. Vincent and the Grenadines have received financing in the amount of US$10 million equivalent from the World Bank towards the cost of establishing a partial credit guarantee scheme, and they intend to apply part of the proceeds to payments for goods, and consulting services to be procured under this project. 

The consultant will serve as the “Senior Operating Officer (SOO)” for the ECPCGC and should possess extensive knowledge of MSME lending with some direct experience lending to Micro, small and medium-sized businesses, knowledge of the internal control processes necessary for a lending operation and the ability to design and implement risk mitigation procedures. The ideal candidate should possess an Undergraduate Degree from a reputable college or university, preferably in Business, Accounting, Banking or related field, with a minimum of 5 years’ experience in lending, inclusive of MSME lending. The initial employment period will be for two years on a contractual basis. Renewal of the contract will be subject to a performance evaluation at the end of the contractual period. The assignment is expected to begin on September 30th, 2021.  The consultant will report directly to the Chief Executive Officer of the ECPCGC.

The detailed Terms of Reference (TOR) for the assignment can be viewed by following the attached link below. 

 

https://bit.ly/3iVannm

 

The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) now invites eligible “Consultants” to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have:

  • An Undergraduate Degree from a reputable college or university, preferably in Business, Finance, Banking or related field; and
  • Minimum of 5 years’ experience in MSME lending. Applicants should also have:
  • The ability to design and implement risk management procedures 
  • Extensive knowledge of MSME lending with some direct experience lending to small and medium-sized businesses
  • Extensive knowledge of MSME banking operations
  • Knowledge of the internal controls necessary for a lending operation and the ability to design and implement risk management procedures
  • Experience developing and presenting information in public, including responding to questions in real-time
  • Experience lending to MSMEs located in the ECCU
  • Knowledge of marketing and communicating with the MSME sector
  • Ability to draft procedures to be used in a lending operation
  • Familiarity with the mechanics of a loan guarantee program
  • Exceptional written, oral, interpersonal, and presentation skills, and
  • Proficiency in the use of Microsoft Office suite.

The attention of interested Individual Consultants is drawn to Section III, Paragraphs 3.14, 3.16, and 3.17 of the World Bank’s Procurement Regulations for IPF Borrowers July 2016, [revised November 2017] (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest. A Consultant will be selected in accordance with the Approved Selection Method for Individual Consultants set out in the clause 7.34 of the World Bank Procurement Regulations for IPF Borrowers. 

 

Further information can be obtained at the address below during office hours 0800 to 1700 hours:

Eastern Caribbean Partial Credit Guarantee Corporation

Brid Rock, Basseterre,

St. Kitts.

Expressions of interest must be delivered in a written form by e-mail by August 11th, 2021, to [email protected]

 

For further information, please contact:

Carmen Gomez-Trigg                                                            Bernard Thomas

Chief Executive Officer                                                          Chief Financial Officer

Tel: 868-620-8144                                                                  Tel: 869-765-2385

Email: [email protected]                                          [email protected]