Although the climate for investment in the Caribbean is generally good, Guyana is at the bottom of the list, according to Michael Price, a consultant of the Pro-Invest programme.

Pro-Invest is a new European Union (EU)/ African Caribbean and Pacific (ACP) partnership for the strengthening of export, investment and trade organizations.

The programm, which has as its objective the promotion of investment and technology flows to the ACP states and is financed by the European Development Fund, held its promotion yesterday at the Ocean View Convention Centre at Liliendaal, East Coast Demerara.

Price said that Pro-Invest also aims to help the ACP countries play a bigger role in the world-trading arena and to bring about a favourable climate for business and investment. Pro-Invest will use public relations and communications to lobby for policy change, Price said.

The seminar had participants from the Guyana Small Business Association, the Forest Products Association (FPA), the Private Sector Commission (PSC) and the Consultative Association of Guyanese Industry (CAGI).

Pro-Invest was developed and implemented by the Office of the European Commission on behalf of the ACP countries. It has a budget of 110 million Euros over seven years.

Pro-Invest will give grants from 50,000 up to 300,000 Euros to groups for the executing of projects, workshops, surveys, company diagnostics, project-feasibility, financial planning and business- development studies among other areas. However, Price that there is a cost-sharing factor of one-third of the total cost of the project on the part of the grantee.

Price said also that for the groups to receive grants they must have their headquarters in an ACP/EU country and have stable human and financial resources. They must also be directly responsible for the project.

Price, who has responsibility for the Caribbean region, said also that the future of Guyana’s economy depends on the effectiveness of export, investment and business- promotion-agencies and professional associations.

Some of these organisations are the Guyana Office for Investment (GO-INVEST), the FPA and the Guyana Manufacturers Asso-ciation (GMA).

In addition to investment- promotion-agencies, Pro- Invest will support chambers’ of commerce, employers’ federations, financial institutions and consultants’ associations, Price said. He said also that the programme is aimed at encouraging investment and partnership among ACP states and addressing poverty alleviation and the development of the economies.

The programme will provide support for intermediary organisations and augment public and private-sector dialogue.

Organisations interested in applying for the funding that the programme offers can fill out forms which are available from the programme’s website, at www.proinvest-eu.org.