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is an initiative aimed at identifiying practical and implementable policies and activities to induce and create jobs in the Caribbean region through analytical work, knowledge exchange and inclusive dialogue.
Impact Investment includes a wide spectrum of activity, ranging from socially responsible investment that seeks to create social value to financially focused investments that proactively seek to generate development impact. The Global Impact Investment Network (GIIN) defines impact investment as investments that help to address social or environmental problems while also generating financial return.
A Caribbean Impact Working Group has been established by a diverse group of interested organizations, led by the Rockefeller Foundation, to determine the benefits and risks of bringing full-scale impact investing to the Caribbean. This group includes the US Department of State, the IDB’s Multilateral Investment Fund (MIF), the Virgin Foundation, Portland Private Equity, and the Compete Caribbean Program. The Program’s Executive Director takes part in the Working Group. Compete Caribbean and the IDB’s MIF organized the first meeting of the Caribbean Impact Working Group which was held in Washington DC on June 10th, 2011.
In 2011, Compete Caribbean undertook an assessment of the demand for and supply of impact investment opportunities in the region. This study revealed limited current activity in this area. The results of the study are providing insight to and shaping the future activities of the Caribbean Impact Group.