With support from the Caribbean Development Bank (CDB), the Centre for Enterprise Development Inc. (CED) has unveiled a five-year Strategic Plan aimed at strengthening support for entrepreneurs and businesses and advancing private sector development in St. Vincent and the Grenadines.

The 2026–2030 Strategic Plan is the result of a year-long initiative funded primarily by the Caribbean Development Bank, which contributed US$44,200 of the project’s US$62,480 cost. The initiative is designed to strengthen CED’s institutional capacity and enable it to provide more effective, responsive and sustainable services to the country’s micro, small and medium-sized enterprises (MSMEs).

The Plan focuses on four strategic pillars: Entrepreneurship Development and Business Support Services; Access to Finance and Investment Readiness; Ecosystem Strengthening, Partnerships and Policy Advocacy; and Institutional Strengthening for Sustainability. A five-year investment plan of US$4.64 million will support implementation, with US$3.3 million allocated to entrepreneurship development.

Allyson Francis, Operations Officer for MSMEs in CDB’s Private Sector Division, said the initiative represents an important investment in strengthening the institution that supports the MSME sector.

“Institutional strengthening is at the heart of the effort. A strong MSME sector requires a strong business support institution.”

She said the support will help CED strengthen governance, systems, data use, staff capacity, partnerships and monitoring and evaluation, while developing services that respond more effectively to entrepreneurs’ needs.

CED Officer-in-Charge Keisha Phillips described the Strategic Plan as a “pivotal moment for enterprises in St. Vincent and the Grenadines”, particularly as the country prepares for the establishment of a National Development Bank. She said CED intends to serve as a “natural referral partner and readiness pipeline” to help entrepreneurs access new opportunities for capital and technical support.

The Strategic Plan was endorsed by Minister of State in the Office of the Prime Minister, the Honourable Senator Chieftain Neptune, who called for strong implementation, greater collaboration and measurable results.

CDB reaffirmed its commitment to supporting implementation of the strategy and to strengthening the capacity of business support organisations across the Region.

The project concluded with a closing ceremony in Villa on the island of St. Vincent, bringing together government, CED, CDB and private sector stakeholders to mark the transition from strategic planning to implementation.

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Photo (left to right): CED Board of Directors Christo Primus, Stacy Balcombe, Sherill Barnwell (Deputy Chairman of Board); Allyson Francis, Operations Officer for MSMEs, Private Sector Division, CDB; Mary Jocelyn, Luke Boyea (CED Board Chairman), and Keisha Phillips, Officer-in-Charge, CED.