Client: United States Agency for International Development (USAID)

2004-2005, SEGIR GBTI

After Hurricane Ivan devastated Grenada in 2004, CARANA implemented a one-year business and agriculture recovery program there that was staffed and operational in the first week of the contract. The hurricane had damaged over 80% of the island's buildings on the island and destroyed most of its key traditional cash crops, including much of its renowned nutmeg industry. The tourism sector was almost entirely shut down.

The project focused on:

•  hospitality and construction skills training,

•  technical assistance and grants to small and medium Grenadan businesses,

•  increasing production of local and traditional cash crops, and

•  revitalization of the fisheries industry.

In 10 months, CARANA established a grant system that dispersed more than $4.5 million (at a rate of 40 grant applications per month) to SMEs, farmers, fisher folk and training institutions, while conducting training for 2,700 people, facilitating microfinance for 572 firms, and establishing a business services center.