CARIB-CAP II Set to Deliver Financial Education Training to Caribbean Micro Entrepreneurs
A three-day Training-of-Trainers Workshop to certify instructors for the CARIB-CAP II project successfully concluded in Kingston, Jamaica last week. The training which took place from July 17-19, 2013, was an important precursor to the full roll-out of the training programmes under CARIB-CAP II which will take place in August 2013. The CARIB-CAP II project, a joint effort by the Caribbean Development Bank, the Multilateral Investment Fund, the European Commission and Citi Foundation, will deliver financial literacy training to approximately 7,000 micro entrepreneurs spread across eight countries. Traditionally in the Caribbean the problem of increasing the poor's access to financial services has been met with an increase in the supply of micro credit. However, it is emerging that the demand side of microfinance also needs to be considered, as client education can improve financial decision-making and well-being, and increase product uptake and usage. The certified participants will be responsible for conducting the micro entrepreneur training sessions using the financial education curriculum which is being developed by Microfinance Opportunities. CARIB-CAP II was launched on September 30, 2012 during the Caribbean Microfinance Forum IV in Bridgetown, Barbados. The technical cooperation programme will provide individualised capacity-building training to microfinance institutions in the Region, building on CARIB-CAP I successes in new client outreach and improved financial performance. Countries that will benefit under the programme are Belize, Dominica, Grenada, Guyana, Jamaica, St. Lucia, Suriname and Trinidad and Tobago. CAPTION: Participants attending the Training-of-Trainers workshop to certify instructors for CARIB-CAP II in Kingston, Jamaica.