- Over 100 Small and Medium Enterprises (SMEs) in Trinidad and Tobago are poised to receive substantial financing aimed at enhancing their operations and facilitating entry into new markets.
PORT OF SPAIN, Trinidad – Trinidad and Tobago’s Minister of Finance, Colm Imbert, alongside the representative of the CAF – Development Bank of Latin America and the Caribbean, Bernardo Requena, has finalized a USD 35 million investment loan designed to enhance the services of the Export-Import Bank of Trinidad and Tobago (EXIMBANK). This funding facility aims to broaden EXIMBANK’s services to cater specifically to SMEs, equipping them with the necessary tools to compete effectively on local, regional, and international stages.
This initiative aligns with EXIMBANK’s 2022-2026 Strategic Plan, emphasizing improved access to credit and innovative financial solutions for SMEs in critical sectors, including creative industries, ICT, and renewable energy. The financing is intended to assist businesses in upgrading equipment, achieving digital transformation, and enhancing product quality to drive export growth and ensure long-term sustainability.
The operation is set to empower 100 SMEs to innovate, expand, and explore new market opportunities. In his remarks at the signing ceremony, Minister Imbert emphasized that this financing initiative will enable local businesses to innovate, compete internationally, and support overall economic growth.
“This collaboration will enhance EXIMBANK’s ability to support SMEs by providing them with the financial resources necessary to scale their operations and contribute meaningfully to the national economy. Our overarching goal is to foster an environment where small and medium enterprises can flourish, and this initiative represents a significant advancement in that direction.”
Requena highlighted the transformative potential of this collaboration.
“SMEs are integral to our economy, and by equipping them with the financial tools and resources necessary for success, we facilitate their growth and contribute to broader economic development. This partnership is in line with our mission to foster resilient, innovative, and sustainable economies throughout Latin America and the Caribbean through responsive and flexible financing solutions.”
