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Earth Today | Basic Needs Trust Fund courts private sector partnerships in the Caribbean

Published:Thursday | June 20, 2024 | 12:50 AM
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Electric cars, solar energy, community renewal, energy clubs, and youth were some of the areas discussed when the Basic Needs Trust Fund (BNTF) met with the Jamaica Public Service (JPS) Foundation. Participants in the meeting were (from left), Sophia Lewi
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Electric cars, solar energy, community renewal, energy clubs, and youth were some of the areas discussed when the Basic Needs Trust Fund (BNTF) met with the Jamaica Public Service (JPS) Foundation. Participants in the meeting were (from left), Sophia Lewis, JPS Foundation; Winsome Callum, JPS corporate communications; George Yearwood, BNTF portfolio manager; Samantha Chantrelle, BNTF’s strategic partnership consultant; and Indi Mclymont-Lafayette, knowledge management and communications consultant, BNTF.
Partnerships are the core of discussions as the BNTF team shares a photo opportunity with Nigel Ollivierre (third left), country head of the CIBC First Caribbean International Bank. From left are Brandon Antoine, deputy project manager of the St Lucia Soci
Contributed
Partnerships are the core of discussions as the BNTF team shares a photo opportunity with Nigel Ollivierre (third left), country head of the CIBC First Caribbean International Bank. From left are Brandon Antoine, deputy project manager of the St Lucia Social Development Fund; George Yearwood, portfolio manager of the BNTF programme; Samantha Chantrelle, strategic partnership consultant with the BNTF; and Edrea Marques, operations officer, BNTF.
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HEAD OF the Caribbean Development Bank’s (CDB’s) Basic Needs Trust Fund (BNTF), George Yearwood and his team have met with at least 16 leaders of private sector entities to explore partnership opportunities in Jamaica and Saint Lucia.

The BNTF is the CDB’s primary tool for direct poverty reduction in the Caribbean. It addresses needs identified by vulnerable communities in water and sanitation, education, livelihood enhancement, and access and drainage, aiming to improve the quality of life for beneficiaries in its PCs. Climate change adaptation and gender equality are cross-cutting themes of the programme. The BNTF work in Jamaica is implemented by the Jamaica Social Investment Fund and in Saint Lucia by the Saint Lucia Social Development Fund.

The recent meetings are part of a push to build public-private partnerships in the Caribbean and especially within the nine BNTF participating countries, namely Belize, Dominica, Grenada, Guyana, Jamaica, Montserrat, Saint Lucia, Saint Vincent and the Grenadines, and Suriname.

They will help to strengthen the BNTF’s commitment to building robust public-private partnerships while formulating Country Policy Frameworks that will guide development interventions for the 2025-2029 cycle.

“We are sharing about the work being done under our current cycle, BNTF 10, and looking at ways that the private sector entities can support that work as we seek to reduce poverty in the Caribbean,” said Yearwood, portfolio manager of the BNTF, adding that many of the companies were working in similar areas on corporate social responsibility initiatives.

“We are excited about the possibilities for partnership, as we believe that they are a significant step in the preparation of the next phase of our development efforts,” he added.

The BNTF team also had partner engagement meetings in Suriname in December 2023.

“As we prepare to start our next four-year programme, BNTF 11, we want to ensure that our resources are being maximised and that our partners are able to take on some of the areas that we do not cover. This will strengthen the sustainability of our efforts,” Yearwood noted.

In the next few months, BNTF will extend its partnership engagement efforts to Grenada, Guyana, and Saint Vincent and the Grenadines. These interactions are anticipated to enhance the collaborative framework necessary to successfully implement the Country Policy Frameworks for 2025-2029.

Since it was established 45 years ago, the BNTF has implemented more than 3,000 sub-projects that have directly impacted the lives of more than three million men, women, and children.