The Caribbean Development Bank (CDB) has unveiled CDB PROPEL, a new flagship programme designed to strengthen micro, small and medium-sized enterprises (MSMEs) across the Caribbean through enhanced technical assistance, innovation, and institutional support. Launched in recognition of World MSME Day, the initiative marks a significant evolution of the Bank’s long-running Caribbean Technological Consultancy Services (CTCS) Network, which has supported entrepreneurs throughout the region for more than four decades.
Building on the CTCS legacy, CDB PROPEL introduces a modern, results-driven approach aimed at helping Caribbean businesses become more competitive, digitally enabled, resilient, and prepared for the challenges of a rapidly evolving global economy.
A New Vision for Caribbean Entrepreneurs
CDB PROPEL has been developed to meet the changing needs of today’s entrepreneurs by providing more strategic and targeted support to MSMEs while strengthening the organisations that serve them.
The programme will focus on:
- Business innovation and competitiveness
- Digital transformation
- Climate resilience and sustainability
- Access to technical expertise
- Institutional capacity building
- Strategic regional partnerships
- Market expansion opportunities
Rather than responding only to individual requests, the programme will proactively identify priority sectors and launch competitive Calls for Proposals that encourage scalable, high-impact business solutions across the Caribbean.
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MSMEs Remain the Backbone of Caribbean Economies
Speaking at the launch, CDB President Daniel M. Best highlighted the vital role MSMEs play in driving economic development throughout the region.
According to the Bank:
- MSMEs account for 70–85% of all businesses across CDB’s borrowing member countries.
- They contribute approximately 60–70% of regional Gross Domestic Product (GDP).
- They provide around 50% of total employment throughout the Caribbean.
These figures underscore why supporting entrepreneurs and small businesses remains central to the Bank’s long-term development strategy.
Building on More Than Four Decades of Success
Since its establishment in 1982, the Caribbean Technological Consultancy Services (CTCS) Network has become one of the Caribbean Development Bank’s longest-running and most successful development programmes.
Between 2015 and 2025, CDB approved approximately US$11.8 million in technical assistance, directly benefiting more than 10,000 MSMEs and entrepreneurs across the region.
Support provided through CTCS has included:
- Business management training
- Market access initiatives
- Renewable energy adoption
- Climate resilience programmes
- Financial inclusion
- Women’s economic empowerment
- Youth entrepreneurship
- Technology adoption and innovation
These initiatives have helped strengthen businesses while encouraging sustainable economic growth throughout the Caribbean.
US$5 Million Allocated Under New Programme
As part of its expanded commitment, the Caribbean Development Bank has allocated US$5 million under the 11th cycle of the Special Development Fund (SDF 11) to support MSME technical assistance between 2025 and 2028.
The investment aligns with the Bank’s 2026–2035 Strategic Plan, which places greater emphasis on private sector development, innovation, and economic resilience.
By combining technical expertise with structured programme delivery, CDB PROPEL aims to generate longer-term impact for Caribbean businesses.
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Supporting a New Generation of Caribbean Businesses
Lisa Harding, Chief of CDB’s Private Sector Division, said the launch reflects both continuity and transformation.
She noted that while CTCS successfully helped entrepreneurs strengthen their businesses over the past four decades, today’s entrepreneurs operate in a far more connected and competitive environment.
CDB PROPEL seeks to ensure Caribbean businesses have access to:
- Expert technical advice
- Regional business networks
- Innovation support
- New market opportunities
- Skills needed to compete internationally
The programme is designed to help entrepreneurs adapt to changing global markets while strengthening business resilience.
Regional Partners Welcome the Initiative
The launch also featured regional partners and beneficiaries from Barbados, Jamaica, and Haiti, who shared how previous CDB programmes have supported entrepreneurship and institutional development.
Representatives highlighted achievements including:
- Expanded access to finance
- Youth entrepreneurship programmes
- Tourism competitiveness
- Climate innovation
- Institutional strengthening
- Business development support
Among the speakers was Cardell Fergusson, Executive Director of the Barbados Youth Business Trust (BYBT), who emphasized the value of regional collaboration in creating greater opportunities for entrepreneurs and strengthening Caribbean economies.
Meanwhile, Faude Joseph, President of the Board of Haiti’s Banque Nationale de Développement Agricole (BNDA), welcomed the initiative, noting that improved access to finance remains one of the biggest challenges facing MSMEs and that CDB PROPEL could help strengthen financing opportunities for Haitian businesses.
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