Finanzgruppe Sparkassenstiftung
20.12.16

Caribbean feeling in Northern Germany: Sparkassenstiftung’s project partners visit the partner savings bank Sparkasse zu Lübeck

Within the scope of the project “Financial inclusion of small and medium-sized enterprises in the Eastern Caribbean Currency Union” the project partners vividly exchanged about the expertise of the German Sparkassen-Finanzgruppe (Savings Banks Finance Group) in the fields of promoting small and medium-sized enterprises (SME) as well as education and training.

The Sparkasse zu Lübeck partners Sparkassenstiftung’s project “Financial inclusion of small and medium-sized enterprises in the Eastern Caribbean Currency Union”. The guests from the Caribbean islands got practical insights into the work of both institutions.

In mid-December, a delegation comprising representatives of the Eastern Caribbean Central Bank, the 1st National Bank of St. Lucia, the St. Lucia Chamber of Commerce, Industry and Agriculture and the Ministry in charge, visited Sparkassenstiftung’s headquarters in Bonn and the German partner savings bank in Lübeck. In Bonn, the guests from the Caribbean islands got insights into the work of the Sparkassen-Finanzgruppe (Savings Banks Finance Group) with a special focus on offers of education and advanced training. In Lübeck, they were familiarised with the customer segment of small and medium-sized enterprises and approached this important target group from different angles: from the savings bank’s side, but also from the customers’ side, reporting about their business experience with the Sparkasse zu Lübeck. The programme was rounded off by visits to the Mayor of the city of Lübeck as well as to the regional Chamber of Industry and Commerce.

Financial services for SMEs on the Caribbean islands

The Eastern Caribbean Currency Union (ECCU) comprises eight small island countries, which are open and prone to the economic cycles of their neighbouring developed economies, in particular of the USA. One of the region’s biggest challenges is the access to finance for small and medium-sized enterprises (SMEs). The project goal, therefore, is to give SME a needs-based, efficient and sustainable access to demand-oriented financial services and, along with it, improve the commercial knowledge of SME’s in the Eastern Caribbean Currency Union on the supply and demand side.

 

 

More details about Sparkassenstiftung´s project in the Eastern Caribbean Currency Union can be accessed here

Press commentaries on the delegation visit can be accessed here [German language only]:
HL-Live - Die schnelle Zeitung für Lübeck
Sparkassenzeitung Online

 

Contact partners:

Nicole Brand / Carina Bauer
Sparkassenstiftung für internationale Kooperation
Simrockstraße 4
53113 Bonn
Phone: +49 228 9703-6633 / -6608
Fax: +49 228 9703 6613