28th April 2023 – The Eastern Caribbean Green Entrepreneurship Initiative is excited to announce the launch of the second call for applications for its interest-free loans program under the Greenpreneurs Accelerator program. This initiative aims to support the growth of green businesses, which are essential to the transition towards a more sustainable future.
This initiative’s Accelerator Program targets high-potential green enterprises in their growth stage. It provides access to capital (up to USD 50,000 interest-free loans), investment opportunities, and continued learning which helps scale these businesses to maximize profitability and impact. The interest-free loans can be used for a variety of purposes, including purchasing equipment, expanding operations, and hiring additional staff. Businesses wishing to apply must be a for-profit legal entity in either Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, Saint Lucia or Saint Vincent and the Grenadines, must also have at least 1-2 years of operations, have a minimum average turnover equivalent of US $6,000 during the last year of activity, and contribute to resilient low carbon development. The program is part of the broader effort to foster a vibrant ecosystem of green entrepreneurship in the Eastern Caribbean, one that can drive economic growth while advancing environmental sustainability and social inclusiveness.
“We are thrilled to offer interest-free loans to sustainable businesses who seek to grow their business. This initiative is an important step towards promoting sustainable business practices in the Eastern Caribbean Region, and we look forward to supporting the growth of these businesses” – Dr. Kristin Deason, GGGI Caribbean Representative.
The interest free loans along with the accelerator program are part of the Eastern Caribbean Green Entrepreneurship Initiative which is funded by the Qatar Fund for Development and implemented by the Global Green Growth Institute in partnership with the Organization of Eastern Caribbean States. This regional program aims to foster and facilitate the development, establishment, and growth of innovative green enterprises in six (6) Protocol OECS Member States namely, Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines. Applications are now open for these countries, and interested businesses are encouraged to apply. Deadline for applications is Thursday, June 8th, 2023, at 11:59 PM.
To learn more about this program, visit this website: bit.ly/ECGreenIFLInfo.