The government’s Trade and Consumer Affairs Department held a training session last week to coach Virgin Islands businesses on how to apply for a regional grant offered through a European Union programme.
The EU’s Caribbean Overseas Small and Medium Enterprises (COSME) Direct Assistance Grant Scheme is designed to benefit businesses in the 12 overseas countries and territories in the region, according to government.
The one-day training session was held July 8 at the Marine Centre at H. Lavity Stoutt Community College.
“The Assistance Grant Scheme is part of the 41-month COSME programme, which will disburse an overall 15 million euros to projects/initiatives benefitting participating Caribbean territories,” said Elvia Smith-Maduro, deputy secretary in the Premier’s Office.
Ms. Smith-Maduro said the initiative is designed to help the OCTs diversify their product offerings, weather global economic changes, and mitigate challenges brought by climate change.
She added that the grant component of the COSME programme will make available €200,000, or about $220,000, during the current call for proposals, and €300,000, or about $330,000, during a second call for proposals. Enterprises in all OCTs are eligible to apply.
Karia Christopher, director of the TCAD, said the purpose of last week’s session was to outline the application process of the grant scheme for attendees.
The deadline for submission of full applications is Aug. 6 at 4:30 p.m. For more information go to cosmeprogramme.org.
The COSME Programme was launched on April 1, 2014 on Tortola. One of its objectives was the design of Direct Assistance Grant Scheme with accompanying implementation guidelines, which were completed in May, according to government.
On March 31, a presentation was made to small businesses and other stakeholders at the HLSCC Marine Centre.
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