BRIDGETOWN, Barbados, Thursday, October 11, 2012 – The Future Centre Trust has received a US$150,000 grant from the Multilateral Investment Fund (MIF), a member of the Inter-American Development Bank (IDB) Group, to strengthen its Green Business Barbados initiative.
The programme developed by the Barbados-based nongovernmental organization will help 20 Barbadian small and medium-sized enterprises (SMEs) achieve Green Business Certification, which is expected to improve their competitiveness and save operating costs by allowing them to reduce waste and make more efficient use of energy and water.
The programme also offers an avenue for companies with to position and market themselves as “green” businesses, increasing their brand value.
The MIF’s assistance will also help the Future Centre Trust create ways for micro, small, and medium enterprises to finance their transition into the green business sector.
The program is expected to not only contribute to a reduction of the country’s carbon footprint, but will also create new opportunities for businesses that offer products and services related to renewable energy, energy efficient technologies, and recycling.
The agreement was signed recently when IDB President Luis Alberto Moreno was in Barbados for the 15th Foromic, the region’s leading forum for supporting and financing microenterprises, SMEs, and small farmers, held in Barbados.
The MIF, a member of the IDB Group, supports private sector-led development benefitting the poor and low-income households – their businesses, their farms, and their households. The aim is to give low-income populations the tools to boost their incomes: access to markets and the skills to compete in those markets, access to finance, and access to basic services, including green technology.
The Future Centre Trust is an NGO based in Barbados whose overarching goal is to raise awareness of the need for sustainable ways of living while providing suggestions and solutions as to how to achieve this change, including climate change mitigation and adaptation.