27 green entrepreneurs awarded interest-free loans

Twenty-seven individuals from across the Caribbean will be receiving interest-free loans as part of the Eastern Caribbean Green Entrepreneurship Initiative.

The awardees are green entrepreneurs chosen from a competitive pool of applicants to receive funding and support to grow their respective green, sustainable enterprises under the Initiative’s Accelerator Program.

 The interest-free loans add up to a total of USD 863,403. The Initiative, delivered by the Global Green Growth Institute (GGGI) in partnership with the Organisation of Eastern Caribbean States (OECS) with support from the Qatar Fund for Development (QFFD), aimed to nurture and empower environmentally conscious businesses, fostering sustainable development across the region.

The regional program was dedicated to facilitating the development, establishment, and expansion of innovative green enterprises across six OECS Member States: Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, St Lucia, and St Vincent and the Grenadines.

Three entrepreneurs from Dominica received a loan, 10 from St Lucia, two from St Vincent and the Grenadines, six from St Kitts and Nevis, three from Grenada and three from Antigua.

Daniel Muñoz-Smith, Caribbean Representative, Global Green Growth Institute congratulated the recipients saying, “With each interest-free loan granted to green enterprises in the Eastern Caribbean, we’re not just investing in businesses; we’re investing in a greener, more sustainable future.”

The Accelerator Program is designed to propel high-potential green enterprises during their growth phase. By providing access to interest-free loans of up to USD 50,000, along with investment opportunities and ongoing education, the program equips entrepreneurs to scale their businesses for maximum profitability and societal benefit.

The 3-year Eastern Caribbean Green Entrepreneurship Initiative concluded on March 31, 2024.