Caption: UNDP Resident Representative to T&T Ugo Blanco and Prime Minister Kamla Persad-Bissessar discuss three proposals aimed at local and regional economic development on Thursday at the Diplomatic Centre, St Ann’s. Photo courtesy OPM

By Alicia Chamely

THE United Nations Development Programme (UNDP) will mobilise US$20 million of private sector financing into Non-Governmental Organisations (NGOs), civil society organisations and Small and Micro Enterprises (SMEs) over three years, as part of a series of initiatives aimed at bolstering economic growth and sustainability in Trinidad and Tobago.

A media release from the Office of the Prime Minister (OPM) stated on Thursday that Prime Minister Kamla Persad-Bissessar, Minister of Planning, Economic Affairs and Development Kennedy Swaratsingh and Finance Minister Davendranath Tancoo met with UNDP Resident Representative to T&T Mr Ugo Blanco, to outline three key initiatives for economic development.

The three proposed initiatives were:

• Social High Impact Fund for Trinidad and Tobago (SHIFTT): Managed by the UNDP, and in partnership with the Ministry of Planning, Economic Affairs and Development, would aim to channel a targeted US$20 million in financing, over three years, to SMEs, NGOs and civil society organisations;
• Regional launch of the 2025 Human Development Report: T&T would host the Latin American and Caribbean launch, positioning the country as a leader in regional development discourse; and
• The establishment of a UNDP backed National Youth Forum, designed to train, mentor and empower youth through a co-leadership with a line ministry. This programme would be particularly aimed for youth from rural, vulnerable and agricultural sectors.

The OPM stated, “These investments form part of the broader national effort to attract investment, create jobs, and deliver meaningful benefits for the people and the nation.”