Introduction
Over the last decade, many international agencies have
been instrumental in the IT development of developing countries.
Many agencies have given significant financial support as well as technical
assistance to developing countries in order to support the advancement
of this sector as well as the expansion of foreign trade in the sector.
St. Vincent is no different. It has received aid and technical assistance
from agencies such as the World Bank, USAID, IFC and the European Union.
Below is a list of the agencies that provide most of the financing for
projects in this sector, and from where SVG has and will continue to receive
assistance for numerous projects:
US Government Financing Sources
Ex-Im Bank
The Overseas Private Investment
Corporation (OPIC)
U.S. Small Business
Administration
U.S. Trade and Development
Agency
USAID Micro and
Small Enterprise Development Program (MSED)
Multilateral International and Regional Financing Sources
Caribbean/Central American Business advisory Service
(BAS) - operates under the auspices of the UN
Development Program and managed by the IFC
Caribbean Development
Bank
Eastern Caribbean
Central Bank
Inter-American Development
Bank (IADB)
World Bank
IFC (International Finance
Corporation)
European Union
Private Financing Sources and Services
Bankers Association for Foreign Trade (BAFT), Washington,
DC
Caribbean Financial Service Cooperation, Barbados
Softbank of Japan
Private Sector Initiatives
To help develop IT industries in developing countries
like St. Vincent and the Grenadines, it is essential that the sector be
organized and be able to support itself. Private sector organizations
need to take an active role in promoting and supporting the development
of the IT sector along with the governmental organizations above.
An example of this in SVG would be the SVG
Chamber of Industry and Commerce, which runs educational programs to
increase awareness as well as is in the process of trying to set up a training
school for computer programming. Another private sector organization
which helps to facilitate development by helping to attract foreign investment
in informatics in SVG is DEVCO, the Development Corporation of SVG, which
promotes joint ventures between nationals and non-nationals. The
Eastern Caribbean Investment Promotion Services (ECIPS) in Washington,
D.C. is also an agency which seeks to help businesses discover opportunities
in the eastern caribbean.
Softbank of Japan
has recently teamed up with the IFC arm
of the World Bank to create a
$200 million fund that will finance Internet start-ups in developing countries.
The new venture which is called Softbank
Emerging Markets, will provide seed capital to entrepreneurs building
Internet businesses in poor countries. It will also seek to transfer
successful e-commerce business model and train managers to apply them.
IT-related Projects
Examples of some projects funded by the above agencies
that are presently taking place in SVG and other countries of the OECS
:
-
Technical assistance for the Caribbean Telecommunications
Union and the harmonization of legislation on telecommunications funded
by the European Union.
-
The Informatics 2000 Initiative for Latin America and the
Caribbean funded by the IADB
-
The World Bank funded project US$6 million to help
reform telecommunications in five countries of the Organization of Eastern
Caribbean States (OECS). The objective of the project is to introduce pro-competition
reforms in the telecommunications sector and to enhance informatics-related
skills in Dominica, Grenada, St. Kitts & Nevis, St. Lucia, and St.
Vincent and the Grenadines.
|
