Peter Christopher
peter.christopher@guardian.co.tt
The T&T Chamber of Commerce signed a Memorandum of Understanding with the United States Agency for International Development to assist in strengthening the small medium enterprise sector.
The MoU was signed at the chamber’s office in Westmoorings and will address key development challenges in T&T with areas of interest in crime and security, inclusive of economic growth for small and medium enterprises (SMEs) and micro, small and medium enterprises (MSMEs), mitigating the effects of climate change, health, COVID-19 response and other areas.
United States Embassy Charge D’Affairs Shante Moore was present at the signing. He noted the T&T economy had been severely impacted by recent events.
“COVID-19 has taken a heavy toll on Trinidad and Tobago’s economy, as the pandemic has on all economies around the world. Russia’s unprovoked, unjustified war in Ukraine has added to this hardship,” said Moore at the signing ceremony.
“This MOU between USAID and the Chamber of Industry and Commerce signifies a shared commitment to seeking tangible solutions to the challenges,” he said.
“What we are hoping to do is promote more access to financing and looking at seeking ways to provide more support and capacity building for businesses by looking at how we can, you know better and provide support, an enabling environment and the ease of doing business, so all of these are various factors of the MOU that we put together and signed,” said USAID regional representative Clinton White.
Chamber President Charles Pashley said the objective of the various projects to be exercised under the agreement is aimed toward enhancing competitiveness, strengthening the capabilities of small and micro enterprises to access financing and enabling the pursuit of digital transformation and green technologies. While the programmes seemed to primarily appeal to SMEs, Pashley stressed it had a wider scope.
He said, “It doesn’t preclude the larger organisation so the largest that need financial support, but also guidance by way of a green agenda can also access the support programmes as offered by USAID.”
The MOU’s agreement is in place for five years.