According to a West Indies Cricket Board (WICB) release, this challenge was issued recently at the 30th Conference of the Caribbean Association of Indigenous Banks by Chris Dehring, Managing Director and CEO of ICC CWC WI 2007 Inc., the organisation established to run the sporting event.

Dehring, an investment banker for over 18 years, noted that the business opportunities which will be created by hosting the ICC CWC 2007 could facilitate much more than internal growth for Caribbean businesses by "internationally exposing" the best of the region's products and services.

"This, however, can only happen if the region's financial institutions consciously develop an understanding of the economics of hosting such a global sports event, and mobilise the debt and equity capital needed to expand their clients' businesses to meet the challenge," Dehring emphasised during his presentation to Caribbean bankers in Montego Bay, Jamaica.

As an example, the Managing Director and CEO noted the need to mobilise capital to increase the region's accommodation and transportation stock and that the ICC CWC 2007 could be a catalyst for this.

During his presentation Dehring also noted that not only larger entrepreneurs would need capital. "We must facilitate the small businesses as well and unleash the creative entrepreneurial energy of the region. There will be a need for an increase in virtually every service area from more taxis to increased and varied food supply and Caribbean banks have a responsibility to grow their customers' businesses to take advantage of the opportunities, while at the same time expanding and strengthening their own portfolios."