Antigua Breaking News

Top Trusted News Source in Antigua

Search
Previous slide
Next slide

EU disburses First Economic Development Tranche of EC$17.55M to Montserrat

Share this article:

Facebook
Twitter
Pinterest
LinkedIn

The European Union has disbursed EC$17.55 million (€5.72M) to the Government of Montserrat (GoM) as the First Fixed tranche under the Multi Sector Sustainable Economic Development Budget Support Programme.

The assistance is inclusive of an emergency top-up payment of EC$1 million (€320,000) as additional support to help with the economic recovery of Montserrat after Hurricane Maria struck in September 2017.

The overall objective of the Budget Support Programme is to assist in setting Montserrat on a path of sustainable economic development, based on its 2017-2021 Medium Term Economic Policy (MTEP).

The assistance is expected to support Montserrat’s renewable energy thrust and new port development to facilitate accessibility to the island. It is also geared towards enhancing the country’s tourism industry as well as improving the business environment and more inclusive private sector development.

The European Union Delegation will continue to support Montserrat’s efforts to create a coherent, comprehensive and sustainable policy framework that will ensure sustained and inclusive economic growth in the long term.

The EU welcomed the determination of the Government of Montserrat to increase economic resilience through strategic sector projects and mainstreaming resilience in all policies. This includes ensuring adequate building codes and standards in order to mitigate socio-economic losses in the event of natural disasters.

Be part of the conversation.

Let us know what you think by adding a comment below. Click here to start now!

The EU Delegation expressed satisfaction to the Government of Montserrat as it continues to show progress and commitment towards prudent Public Financial Management (PFM), good Budgetary Transparency reforms and the pursuit of stable macroeconomic policies.

The overall programme (Grant) of the current 11th European Development Fund intervention is approximately EC$57.35 million (€18.72M).

The programme is expected to run until 2022, with EC$54.30 million (€17.72M) earmarked for multi sector development as budget support. Montserrat also benefits from regional EU assistance for Overseas Countries and Territories (OCTs).

Share this article:

Facebook
Twitter
Pinterest
LinkedIn

Join the Conversation!

Comments are closed.

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]