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TERMS OF REFERENCE (ToR)
REF. no:
(Consulting Services – Accountant)
Background
The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) was created to increase the amount of financing available to MSMEs in the Eastern Caribbean Currency Union (ECCU). The programme provides guarantees of up to 80% on loans made by private sector lenders to qualifying micro, small and medium enterprises (MSMEs). ECPCGC became operational in 2020 and its staff is working with banks in the six nations that comprise the ECCU. In general, both banks and MSMEs are unfamiliar with guarantee schemes and the credit enhancement that they can provide. The process is that the entrepreneurs approach the financial institutions for loans, armed with their financial documents, projections, business history, and a clear idea of the purpose of the loan. The institutions would review the documents, adjudicate the loan, and if approved, send an application to ECPCGC for a guarantee to make up for the collateral deficit. In the absence of proper records, the financial institutions are unable to complete their assessments.
The Current Issue
The banks have cited the following issues that are prevalent among the customers:
Consequently, the institutions have requested that the clients get their files organized so that proper assessments may be made of the businesses and the need for financing. Many clients are cash constrained and are unable to afford the fees for an accountant to prepare the requisite statements. They, therefore, do not return to the banks with the documentation and so lose out on the opportunity to participate in the guarantee programme.
As the economies rebound from COVID 19, it is expected that the demand for guarantees will pick up, and there may be many more under prepared clients trying to access the guarantees. ECPCGC will send referrals to the accountant so that the required reports can be prepared for submission to the financial institutions.
The Purpose of the Assignment
ECPCGC is looking to obtain the services of an experienced accountant who has worked with MSMEs nationally and has experience in creating financial reports and projections from incomplete records.
The consultant would have the following responsibilities:
Fees will be paid on a “per client” basis.
Requirements
The ideal candidate will have a minimum of 10-15 years of accounting experience and would have substantial prior engagement with MSMEs.
Term of the Engagement
The engagement will last between 6 and 12 months beginning in June 2022.
Expression of Interest:
Interested applicants whose qualifications and experience are in line with the Terms of Reference are invited to submit their CV, a letter of application stating suitability for the position, two professional references on or before May 24, 2022 at 11:59 Atlantic Standard Time (AST) to [email protected] with the job reference number KN-ECPCGC-293793-CS-IDV in the subject line of the email.
Key Personnel
The following are key organizational staff that you may contact regarding any questions on the position:
Bernard Thomas, Chief Financial Officer, 869-466-8251, [email protected]
Carmen Gomez-Trigg, Chief Executive Officer, 868-620-8144, [email protected]
Terms of Reference for Marketing/Technical Assistance Expert for the Eastern Caribbean Partial Credit Guarantee Corporation
May 2022
Background
The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) was created to increase the amount of financing available to SMEs in the Eastern Caribbean Currency Union (ECCU). The scheme provides guarantees of up to 75% on loans made by private sector lenders to qualifying small and medium enterprises (SMEs). The scheme recently became operational and is working with banks in the six nations that comprise the ECCU. In general, both banks and SMEs are unfamiliar with guarantee schemes and the credit enhancement that they can provide.
The Current Issue
The ECPCGC was designed with a staff of four to five people to handle marketing, processing guarantee applications, and monitoring lender performance. During the initial operational phase, the need for training and implementation of the web portal has stressed the ability of the staff to keep up with day-to-day activities as well as handle the training. While the current staff has provided training on the web portal and terms and conditions of the guarantee scheme, it is likely that loan officers will have questions regarding both the terms and conditions of the scheme and web portal operations when they use the program for the first time.
The Covid virus has slowed business on the islands, including the requests for bank lending. When lending picks up, it is likely that loan officers will have questions regarding program operations and using the web portal. In addition, one of the concerns banks raise repeatedly is that many applications are not complete when submitted, requiring substantial additional time to get all of the information in a format that can be used for a credit application.
The Purpose of the Assignment
The ECPCGC is looking for an experienced bank or non-bank loan officer who has worked with SMEs in the Caribbean region and has experience in the Sales and Marketing of financial products. The consultant would have five main responsibilities.
Requirements
The ideal candidate will have a minimum of 10-15 years of SME lending experience in the Caribbean region, preferably in the countries of the ECCU.
Experience with marketing, sales, and/or working with a guaranteed lending scheme would be beneficial.
Term of the Engagement
The engagement will last between 6 and 12 months beginning in June 2022.
Expression of Interest:
Interested applicants whose qualifications and experience are in line with the Terms of Reference are invited to submit their CV, a letter of application stating suitability for the position, two professional references, and a current Police Certificate of Good Character on or before May 20, 2022 at 11:59 Atlantic Standard Time (AST) to [email protected] with the job reference number KN-ECPCGC-292033-CS-INDV in the subject line of the email.
Key Personnel
The following are key organizational staff that you may contact regarding any questions on the position:
Bernard Thomas, Chief Financial Officer, 869-466-8251, [email protected]
Carmen Gomez-Trigg, Chief Executive Officer, 868-620-8144, [email protected]
Terms of Reference for Marketing/Technical Assistance Expert for the Eastern Caribbean Partial Credit Guarantee Corporation
April 2022
Background
The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) was created to increase the amount of financing available to SMEs in the Eastern Caribbean Currency Union (ECCU). The scheme provides guarantees of up to 75% on loans made by privatesector lenders to qualifying small and medium enterprises (SMEs). The scheme recently became operational and is working with banks in the six nations that comprise the ECCU. In general, both banks and SMEs are unfamiliar with guarantee schemes and the credit enhancement that they can provide.
The Current Issue
The ECPCGC was designed with a staff of four to five people to handle marketing, processing guarantee applications, and monitoring lender performance. During the initial operational phase, the need for training and implementation of the web portal has stressed the ability of the staff to keep up with day-to-day activities as well as handle the training. While the current staff has provided training on the web portal and terms and conditions of the guarantee scheme, it is likely that loan officers will have questions regarding both the terms and conditions of the scheme and web portal operations when they use the program for the first time.
The Covid virus has slowed business on the islands, including the requests for bank lending. When lending picks up, it is likely that loan officers will have questions regarding program operations and using the web portal. In addition, one of the concerns banks raise repeatedly is that many applications are not complete when submitted, requiring substantial additional time to get all of the information in a format that can be used for a credit application.
The Purpose of the Assignment
The ECPCGC is looking for an experienced bank or non-bank loan officer who has worked with SMEs in the Caribbean region and has experience in the Sales and Marketing of financial products. The consultant would have fivemain responsibilities.
Requirements
The ideal candidate will have a minimum of 10-15 years of SME lending experience in the Caribbean region, preferably in the countries of the ECCU.
Experience with marketing, sales, and/or working with a guaranteed lending scheme would be beneficial.
Term of the Engagement
The engagement will last between 6 and 12 months beginning in June 2022.
Expression of Interest:
Interested applicants whose qualifications and experience are in line with the Terms of Reference are invited to submit their CV, a letter of application stating suitability for the position, two professional references, and a current Police Certificate of Good Character on or before May 3, 2022 at 11:59 Atlantic Standard Time (AST) to [email protected] with the job reference number KN-ECPCGC-156400-CS-INDV in the subject line of the email.
Key Personnel
The following are key organizational staff that you may contact regarding any questions on the position:
Bernard Thomas, Chief Financial Officer, 869-466-8251, [email protected]
Carmen Gomez-Trigg, Chief Executive Officer, 868-620-8144, [email protected]
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.
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:
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
Bird Rock, Basseterre,
St. Kitts.
Expressions of interest must be delivered in a written form by e-mail by August 25th, 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
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 small and medium-sized businesses, knowledge of the internal controls necessary for a lending operation and the ability to design and implement risk management procedures. The ideal candidate should possess an Undergraduate Degree from a reputable college or university, preferably in Business, Accounting, or related field; and a minimum of 5 years’ experience in MSME lending in a financial services institution. The initial contracted employment period will be for two years subject to a performance review and an expression of further contracted employment three months before the expiration of the existing contract. The assignment is expected to begin on April 15, 2021.
The consultant will report directly to the Chief Executive Officer of the ECPCGC and the ECPCGC Board of Directors.
The detailed Terms of Reference (TOR) for the assignment can be viewed by following the attached link below.
https://tinyurl.com/yygezdt9
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:
Applicants should also have:
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.
Expressions of interest must be delivered in a written form by e-mail by February 16, 2021 to [email protected]
Eastern Caribbean Partial Credit Guarantee Corporation
Brid Rock, Basseterre,
St. Kitts.
For further information, please contact:
Carmen Gomez-Trigg Bernard Thomas
Chief Executive Officer Chief Financial Officer
Tel: 868-620-8144 Tel: 869-765-2385
Economic Advisory Services – Project Management Consultant Terms of Reference
Antigua and Barbuda
Terms of Reference
Job Title |
Project Management Consultant |
Date of Issue
|
September 25, 2020 |
Deadline for application
|
December 1, 2020 |
To Apply |
Suitable candidates are invited to submit the following documents: cover letter and a curriculum vitae (CV) with contact information for three (3) references. Email the copy of the above referenced documents to [email protected] or mail to the following address: Procurement Officer NDC Partnership Support Unit c/o World Resources Institute 10 G St NE, Suite 800 Washington, DC 20002 Please use email subject line: “Project Management Consultant” |
Contracting Authority |
Department of Environment |
Duration of Contract
|
Short-term contract for 1 year |
Country
|
Antigua and Barbuda |
BACKGROUND
The Government of Antigua and Barbuda (GOAB) is to receive funding from the NDC Partnership to enhance its economic planning and recovery efforts and its response to both the COVID-19 pandemic and climate change. The GOAB recently established an Economic Recovery Commission (ERC) in the wake of the pandemic. It comprises public-private stakeholders, who advise the Cabinet of Antigua and Barbuda on the long-term economic recovery of Antigua and Barbuda, including avenues to stimulate development and create jobs. The support of the NDC Partnership and its implementing partners will complement the work of the ERC.
Funding from the NDC Partnership will go towards the operationalization of a Project Management Unit (PMU) for the Ministry of Finance and Corporate Governance that will help the country to design and implement low-
carbon and climate resilient projects in line with the Nationally Determined Contributions (NDCs) under the ParisAgreement. This assistance will strengthen the country’s capacity to develop and execute interventions that address the adverse effects of climate change and improve its ability to attract climate finance.
The PMU within the Ministry of Finance will be tasked with coordinating the implementation of transformative projects for the building, road and finance sectors; and adaptation interventions. The PMU has to implement projects with oversight from the Department of the Environment (DOE) — an Accredited Entity (AE) to the Green Climate Fund (GCF). The PMU must also work with Executing Entities (EE) and other implementing partners. The PMU will consist of one or more Project Managers, one or more Project Coordinators, Project Component Coordinators, a Financial Officer, a Procurement Officer, an Environmental and Social Safeguards Officer, a Knowledge Management Officer, a Monitoring and Gender Officer, and an Administrative Officer.
Objectives of the Assignment
The objective of the assignment is to acquire the services of an experienced and qualified Project Management Consultant, who will be responsible for setting up and operationalizing the PMU. The Consultant will be required to set up and prepare for the operation of new projects while the project staff are being hired. The Project Management Consultant should have a proven track record of supervising and managing relevant projects. The Consultant will take responsibility for building the PMU’s capacity for planning, coordinating, and implementing low-emission and climate resilient projects. Also, the PMU will be required to carry out monitoring and evaluation and reporting functions. The Consultant will be based in the Ministry of Finance. The contractual period is expected to last for 12 months at which time the PMU should be established, and any new projects assigned will be in full operationalization and implementation phase.
Scope of Work
The Project Management Consultant will carry out specific duties and responsibilities under the general direction of the Ministry of Finance. The Project Management Consultant will:
Economic Advisory Services – Project Management Consultant, Antigua and Barbuda 2 October 2020
monitoring and reporting
Develop
provide initial oversight for the PMU staff in the execution of their respective duties, including
During this contract period, if the PMU has to implement a project, the Project Management Consultant will be provided with more detailed tasks.
Indicative Deliverables |
Timeline |
Detailed Workplan |
Within 2 weeks of signing contract |
PMU structure and work programme |
December 2020 |
Training and capacity building plan |
Within 1 month of signing contract |
Four (4) training workshops conducted |
November 2020 December 2020 February 2021 March 2021 |
Draft Project Operations Manual with policies, procedures and a fuctional project management system |
July 2021 |
Final Project Operations Manual |
August 2021 |
Final report on achievement of the objective of the consultancy and status of deliverables |
September 2021
|
Institutional Arrangements and Reporting
The Project Management Consultant will work under the guidance and supervision of the Permanent Secretary of the Ministry of Finance. The Project Management Consultant will provide oversight of the Project Management Unit and shall liaise with the government, NDC Partnership, donor agencies and other key stakeholders. The Project Management Consultant shall also collaborate with the Economic Advisor and the Climate Finance Analyst during the execution of his/her tasks and responsibilities.
Education, Experience, Skills and Abilities
The Project Management Consultant should possess the following qualifications:
Economic Advisory Services – Project Management Consultant, Antigua and Barbuda 4 October 2020
Invitation to Tender
Construction of Airport Heliport
Details:
Property located at the Eastern end of Runway 10 has been designated for a helicopter landing area. This tender is being offered for the construction of a helicopter landing pad as well as a 4 office building.
The area will require preparation and landing area constructed in accordance with ICAO and ECCAA regulations as well as logistically designed for maximum safety and benefit.
Requirements:
Deadline:
All bids must be submitted to [email protected] by 20 Nov. 2020. All enquires with regard to tender should be addressed to the above email.
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:
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]
CARICOM at 50: there is still hope
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July 4, 2023 marks the 50th anniversary of the signing of the Treaty of Chaguaramas, the foundational document that brought the Caribbean Community and Common Market (CARICOM) into existence. With high hopes and lofty ambitions, the heads of government of the four largest independent Caribbean countries at the time embarked on a journey towards regional integration. They were later joined, to varying degrees of commitment, by 10 other countries.
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Reflection on the past five decades reveals that CARICOM has fallen short of its initial promises and failed to deliver the deep and meaningful integration that was envisioned, leading to the often-repeated phrase, “CARICOM and CARI-GONE.”
While CARICOM experienced some initial success, establishing institutions like the Caribbean Development Bank and making progress in trade, its history has been characterized by sporadic bursts of activity followed by prolonged periods of inaction. This inconsistent pattern has eroded confidence and faith in the CARICOM project among various sectors of Caribbean society.
Nevertheless, the fact that CARICOM’s framework continues to exist is a testament to the enduring belief in the benefits of regional integration. No government dares to withdraw from it, fearing a popular backlash from within its own population.
Despite the revision of the CARICOM Treaty in 2001, which aimed to establish a Single Market and Economy (CSME), progress towards these goals has been painfully slow. The establishment of a Customs Union, let alone a Common Market, remains unrealized. The lack of a comprehensive regional economic framework has hindered the potential for genuine free trade, cross-border company establishment, and the free movement of labour—a vision that once excited the people of CARICOM.
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By 2011, the CSME had effectively stalled, with little progress made in advancing regional integration. In 2022, CARICOM leaders acknowledged that trade barriers, particularly non-tariff barriers, were major obstacles to the development of a regional market for agricultural produce, as well as inter-regional transportation. The inability to overcome even these challenges, especially air transportation, which suffered as a consequence of closed borders during the 2020 COVID-19 pandemic, highlights the significant capacity that CARICOM states have yet to collectively build.
Comparatively, the countries of the European Union (EU), which embarked on integration efforts around the same time as CARICOM, have made significant strides. The EU expanded its membership, established a single currency, dismantled border barriers, and empowered a central Commission to make decisions collectively for all member countries. In contrast, CARICOM has limped along, burdened by inadequate implementation of decisions, mistrust among leaders, institutional decline, and a weak and underfunded Secretariat.
Numerous reports and commissions have carefully examined CARICOM’s failures and offered recommendations for improvement. The 1992 West Indian Commission’s seminal work, “Time for Action,” led by Caribbean luminary, Shridath Ramphal, called for the establishment of a Caribbean Commission similar to the European Commission. Despite the acceptance of some recommendations, crucial proposals regarding governance structures, including the creation of a Caribbean Commission, were largely ignored.
In 2016, the Jamaican government commissioned a review of its relations with CARICOM, headed by Bruce Golding. The commission recommended explicit provisions in the CARICOM Treaty to enforce member states’ obligations and ensure timely implementation of decisions. Yet, once again, these recommendations were largely disregarded, further highlighting the challenges of implementing meaningful reform within CARICOM.
In 2021, a CARICOM Commission on the economy revived discussions on regional integration. It suggested that interested member states should proceed with integration, leaving the door open for others to join at their own pace. However, this report, like its predecessors, has not spurred the necessary action.
The dominant characteristic of CARICOM has been the jealous retention of sovereignty by individual governments. In their international bargaining, CARICOM governments have achieved success only when they act together. But there is no established machinery for joint relations with external powers and agencies. Thus, ad hoc collective activities have produced beneficial results, but these have been spectacular exceptions, not the consistent rule.
This inclination to maintain decision-making power at the national level has hindered progress. Bureaucrats, too, have perpetuated this culture of nationalism, often prioritizing their countries’ interests over collective regional welfare. Consequently, CARICOM has struggled to implement regional decisions effectively and act in unison, hampering its ability to achieve its objectives.
The Caribbean Court of Justice (CCJ) serves as a notable example of this contradiction. Established in 2001 to replace the British Privy Council as the region’s final court of appeal, the CCJ has struggled to gain the full support of member states despite the demonstrated high quality of its jurisprudence. Some countries have been hesitant to embrace the CCJ due to concerns over losing sovereignty and fear of political interference. As a result, the region has been unable to unify under a single legal system, preventing the CCJ from fulfilling its potential as a symbol of Caribbean unity and independence.
The consequences of limited integration have been significant for CARICOM countries. Research conducted by the International Monetary Fund (IMF) indicates that deeper regional integration could bring substantial economic benefits. By reducing non-tariff barriers and trade costs, CARICOM countries could stimulate trade, restructure their economies, and generate net employment gains. Integration would also allow member states to tap into global value chains, attract foreign investment, and enhance their economic potential. The failure to seize these opportunities has come at a cost to the region’s development and prosperity.
As CARICOM reaches its 50-year milestone, new challenges face each of its member states that none can manage effectively alone. Among them are the impact of climate change including more frequent and intense disasters; new pandemics for which they are ill-prepared; increasing transnational crime; gang violence and the spread of deadly weapons; and narrowing windows to much needed development funds. All of these developments require more integration, not less.
CARICOM needs a renewed commitment from member states to prioritize collective interests over narrow national concerns. This shift in mindset should be accompanied by concrete actions, such as the removal of remaining trade barriers, harmonization of regulations, and the establishment of effective governance mechanisms that can enforce regional decisions.
CARICOM must also invest in revamping its institutions, providing them with the necessary expertise, authority, and resources to drive the integration agenda forward. Enhanced regional cooperation and coordination, with a focus on effective implementation and enforcement, will be vital to restoring confidence and generating tangible benefits for the people of the Caribbean.
Hopefully, 50 years of lessons will not go unlearned. The vision of a fully integrated Caribbean, where borders are irrelevant, and collective strength prevails, can still be realized.
——————————————
(The writer is Antigua and Barbuda’s Ambassador to the United States and the Organization of American States. The views expressed are entirely his own.
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