The objective of this Technical Assistance (TA) Programme is to promote the responsible financial inclusion of the Caribbean populations, particularly for women and youth, to reduce poverty and encourage entrepreneurship across the region.
The aim is to improve the quantity and quality of financial services offered to the final beneficiaries/clients who are currently unserved or underserved by the traditional financial sector. The implementation of the TA Programme consists of four components targeting Participating Financial Institutions (PFIs) and final beneficiaries/clients. It aims to support the implementation of EIB financial sector operations in the Caribbean and the inclusive finance sector and MSME entrepreneurs in the region more broadly.
Since the start of the TA Programme, Frankfurt School Experts have been providing targeted capacity building via consulting interventions to national development banks, banks and MFIs for several topics such as Climate Finance, Business Continuity Planning, Credit Management, Customer Relationship Management and HR Management.
Second, the PFIs benefit from the design and delivery of training programmes that focus on Credit and Risk Management and Social Performance Management, including the SPI4 Audit and subsequent identification of a Social Performance Management action plan.
A third important component refers to support for PFIs funded by EIB to reach compliance with EIB processes and requirements. Here, the TA support mainly identified the gaps in EIB covenants and proposed a reduction strategy to close the gaps.
Finally, Frankfurt School is providing targeted and tailored capacity building for final beneficiaries both through third-party providers such as industry associations (MSME) and directly by designing and implementing a business plan training/competition for micro entrepreneurs (MicroPitch) in the Dominican Republic.
At the end of 2019, as an interim result, Frankfurt School trained more than 750 operational staff and management of the approved PFIs. Additionally, 21 people were trained as internal trainers for the PFIs. Finally, more than 7,400 entrepreneurs participated in events, seminars and workshops.