Caribbean Banks to Increase Credit for Small Businesses: Report

By: - November 16th, 2011

Above: Claughton House in Nassau (Photo: CJ)

By the Caribbean Journal staff

A large majority of banks in the Latin American and Caribbean region consider small- and medium-sized enterprises a strong part of their business, and plan to increase their credit portfolio for this sector in the next two years.

The data comes from a survey of 190 regional banks by the Inter-American Development Bank and the Latin American Banking Federation, with 73 percent expecting an increase in their SME portfolio, and 83 percent expecting the economic situation of these businesses to improve in the next two years.

According to the survey, banks in the Caribbean and Central America are the biggest beneficiaries of international credit lines and financing from international institutions.

The survey was conducted by Argentine consulting firm D’Alessio, with contributions from the Inter-American Investment Corporation, the beyondBanking programme and the Multilateral Investment Fund; all three are private sector windows of the IDB.

Bahamas

Construction Moves Forward at St Kitts' Christophe Harbour Project

By the Caribbean Journal staff Construction on the marina of the multi-billion-dollar Christophe Harbour resort project in St Kitts is underway. Dredging is down to 20 feet at the site of the marina, according to Buddy Darby, CEO of Kiaway, the company behind the development. “Our focus will be on the development of the rest […]

Bahamas

In Barbados, Calls for a Free Zone

Above: Industry Minister Denis Kellman (Photo: BIGS/C.Pitt) Barbados Industry Minister Denis Kellman has called for the establishment of a free zone and showroom for local products. “It has been long overdue, and I can assure you that we in the Ministry are not just thinking about it, we are already working on it,” he said […]

Bahamas

In Jamaica, Optimism on Tourist Season

Above: the Ritz-Carlton Rose Hall in Jamaica Jamaica has secured just over one million airlift seats for the upcoming winter season, according to Tourism Minister Ed Bartlett. That number is an increase of 5.6 percent over 2010, and a 4.7 percent increase over the winter of 2011, he said. “This will allow us to bring […]

Miami Prosecutor Indicts Five for Caribbean Narco-Trafficking

Above: US Attorney Wifredo Ferrer (CJ Photo) By the Caribbean Journal staff US Attorney for the Southern District of Florida Wifredo Ferrer and Javier Pena, Special Agent in Charge for the US Drug Enforcement Administration announced the unsealing of a July indictment of five nationals of the Dominican Republic for their alleged parts in narcotics […]

Interview with Chef Alain Ducasse

Above: Alain Ducasse (Photo: M Rougemont) By Alexander Britell There are chefs, and then there is Alain Ducasse. The legendary chef was the first to have Michelin three-star restaurants in three different cities at the same time, and has earned 19 in his career — from Le Louis XV in Monaco to Alain Ducasse at […]

Baseball, Bahamian Style

 Above: US Attorney Wifredo Ferrer (CJ Photo) By the Caribbean Journal staff US Attorney for the Southern District of Florida Wifredo Ferrer and Javier Pena, Special Agent in Charge for the US Drug Enforcement Administration announced the unsealing of a July indictment of five nationals of the Dominican Republic for their alleged parts in narcotics […]

Barbados PM, New CCJ President Meet

 Above, from left: Barbados PM Freundel Stuart and CCJ President Sir Dennis Byron (UN Photos/Devra Berkowitz and Ryan Brown) By the Caribbean Journal staff Barbados Prime Minister Freundel Stuart met with Sir Dennis Byron, new president of the Caribbean Court of Justice, in a courtesy call this week. “The work coming out of the CCJ […]