By 2017, the Compete Caribbean Program directly created over 5000 jobs and indirectly contributed to another 6000. Of the direct employment created, approximately 80% of these jobs went to women and the average labour participation of women in beneficiary firms/clusters increased by approximately 15%.
Six years ago, the Compete Caribbean Program was launched with the goal of stimulating private sector development (PSD) in the Caribbean region. This year, 2017, marks the end of Phase One of the Program which is considered a resounding success by many in the PSD hemisphere.
Compete Caribbean is a private sector development program that provides technical assistance grants and investment funding to support productive development policies, business climate reforms, clustering initiatives and Small and Medium Size Enterprise (SME) development activities in the Caribbean region. The program, jointly funded by the Inter-American Development Bank (IDB), Canada, and the United Kingdom Department for International Development (DFID), supports projects in 15 Caribbean countries. Projects in the OECS countries are implemented in partnership with the Caribbean Development Bank.