The Caribbean Development Bank (CDB) has committed USD 1.8 million to support the development of the region’s creative industries.
This Bank’s Board recently approved the injection into the institution’s Creative Industries Innovation Fund (CIIF), a multi-donor endowment, established in 2017 to encourage innovation, job creation and improved enterprise sustainability within the sector.
According to Daniel Best, CDB’s Director of Projects “We are pleased to support this initiative. Given the challenges faced by our creatives, this fund will continue to fill a prevailing void by providing resources to create an enabling environment for the sector. We anticipate support for trade and export facilitation, marketing and distribution, human resource development and research as well the development of legal and policy frameworks in our 19 Borrowing Member Countries (BMCs).”
Globally, the creative economy is recognised as a growth sector and a meaningful contributor to Gross Domestic Product (GDP), having the capacity to spur innovation and knowledge transfer across all sectors of the economy.
