It is my distinct pleasure to join you today as we embark on this new, exciting, and exceedingly important initiative through which we seek to facilitate the transformation of the lives of the people in our Region using the age-old practice of partnerships.  For me, what we are launching here is not just about the empowerment of Caribbean Women, it is potentially a gigantic step towards gender equity.  

The Caribbean existence has been marked by multiple periods of crisis and a repeated sense of the urgency of now.  This is not unsurprising, as our past and even our present have been constantly underwritten by shocks and traumas visited on us by elements or forces, over which we have had no control.  It is for this reason that we must envision and craft a future that is resilient and in which Caribbean people do not merely survive but thrive.  Fundamental to the achievement of this vision is the articulation and operationalisation of an approach where we “all share a common humanity and therefore have a right to equitable treatment, support for our human rights, and a fair allocation of community resources”.  (Toowoomba Catholic Education in 2006).  That colleagues, is essentially a social justice agenda.  We cannot achieve social justice without gender equity.  We define this as having equal rights, responsibilities, and opportunities for women, men, girls, and boys to shape their lives and contribute to society.  Importantly, it also refers to the transformational commitment needed to make equity, in all its dimensions, a reality within the human rights agenda.  It requires that the interests, needs, and priorities of females and males, as well as vulnerable populations, be taken into consideration, in recognition of the great diversity within and among these groups.  It is a commitment that the Caribbean Development Bank (CDB) proudly owns, and one we champion through our 2019 Gender Policy and Operational Strategy.

Building on our equally firm commitment to leverage partnerships for resilient prosperity, our collaboration with ITC, and launch of the SheTrades Caribbean Hub, seeks to move the needle for Action Pillar II of our Strategy, namely economic empowerment for all.  While we know that trade (and investment) can be an important driver for economic empowerment of women, we also know that systemic challenges such as poor data quality, inadequate business support services, unfavorable business environments, and limited access to affordable finance, compounded by socio-cultural biases against women entrepreneurs, stand in the way.  

The SheTrades Caribbean Hub is not a cure all for these issues, but what the Hub can do is provide a more level playing field for its members where they can share experiences and access information and tools for sustaining growth, thus allowing each business to stand on a firm foundation and be less vulnerable to economic and societal shocks.  Each person’s success will not be the same, but if given the same opportunity, they can create livelihoods and contribute to our collective prosperity as a people.  

The SheTrades Caribbean Hub also allows CDB to activate a value-chain approach to tackling the impediments to women’s economic empowerment.  In this regard, it will complement and extend the footprint of CDB’s own initiatives such as the Caribbean Technological Consultancy Services Network, the Cultural and Creative Industries Innovation Fund, and our investment in the Portland Equity Fund III.  These initiatives and programmes allow us to support private sector development, specifically the promotion of broad-based economic growth for women-owned micro, small and medium-sized enterprises (MSMEs) and gender-responsive social development.

Our aim is to promote inclusive development and gender parity, while creating more opportunities with higher wages and better working conditions for women.  Joining forces with an international development partner allows us to leverage additional resources to improve market access for women-owned businesses.  Moreover, CDB's future interventions are anchored in a programmatic approach, targeting by 2025 over 2,000 women-owned/led MSMEs supported by the regional SheTrades Hub.  The Bank has engaged a Project Team that has been working since February 2023 on the operationalisation of the Hub.  Immediately after today’s signing of the Collaboration Agreement, the Team will be sharing with stakeholders in the Region the agenda for supporting women-owned and women-led MSMEs under the SheTrades Caribbean Hub.

In closing, let me reiterate that CDB is committed to, and continues to create and support, the development of innovative, dynamic, and accessible products and programmes to enhance MSME competitiveness through the lens of social and gender equity.  Together, let us forge a path toward social justice, characterised by the empowerment of women entrepreneurs, and a future where opportunities abound for all.

I thank you.