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By September 2023, CCPF had approved and committed 100% of its available resources (US$27.3 million) and disbursed 80% of them across 56 projects in all 13 beneficiary countries, meeting and/or surpassing most of its output and outcome indicators. Under Pillar 1, it had improved the capacity and willingness of 673 businesses to collectively address specific private sector challenges and opportunities via clustering, it had increased innovation and technology adoption in 809 businesses, it had improved the technical capacity of 110 business support organizations to stimulate productivity and innovation in firms, and 504 of treated businesses had introduced innovations.
Further, the IDB is in the process of mobilizing a new programme, Compete Caribbean + (CC+), with the objective to mainstream climate action in the Caribbean private sector, while increasing Caribbean businesses’ contribution to economic growth in ways that expand employment and inclusion opportunities for vulnerable groups. CC+ will consist of three pillars:
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