Project Case Study
Exploring new approaches to private sector development in small island states
Exploring innovative approaches to private sector development & women's economic empowerment in the Caribbean
In the Pacific region, the Australian Government Department of Foreign Affairs and Trade (DFAT) is actively exploring new approaches to solving development challenges, particularly those that draw on the expertise and resources of the private sector.
The Pacific Island region’s size, remoteness, distance from markets and limited capacity makes private sector-led development particularly challenging.
Adam Smith International was invited to conduct a review of innovative approaches to private sector development and to women’s economic empowerment in the Caribbean which may be applicable in the Pacific island context. We assessed the key constraints to private sector development, both as the engine of growth and job creation and source of innovation, that exists in both the Pacific and the Caribbean, together with the key constraints to women in business in the two regions.
Based on this assessment, we have identified innovative donor programs in the Caribbean which were effective in addressing key constraints to private sector development and increasing private sector activity. We also explored innovative approaches that increased economic opportunities for women in the Caribbean region.
As a result of the analysis, we presented a number of recommendations on innovative Caribbean approaches to furthering private sector development approaches in the Pacific Island countries.