Services

The Bank offers a number of services provided by the Foreign Exchange and Export Credit Department with a view to providing a substantial measure of support for the export promotion drive in Barbados.  This section describes the services offered.

• Barbados Investment Fund
• Enhanced Credit Guarantee Scheme ( 89KB)
• Export Credit Insurance Scheme ( 81KB)
• Export Finance Guarantee Scheme ( 113KB)
• Export Rediscount Facility
• Industrial Credit Fund ( KB)

Barbados Investment Fund

The Barbados Investment Fund (BIF) is a close-ended equity fund established in July 1992 by the Central Bank of Barbados and the Caribbean Financial Services Corporation for the purpose of providing equity financing for small- and medium-sized businesses operating in Barbados. These enterprises should be engaged in manufacturing, agro-industry, tourism and related services, or any other areas of industrial activity which can make a worthwhile contribution to exchange earnings and employment.

Initially, five-sixths (5/6) of the capital of the fund was contributed by the Central Bank of Barbados and the remaining one-sixth (1/6) by the Caribbean Financial Services Corporation (CFSC). The latter is also responsible for the administration of the BIF on a day-to-day basis. All requests for financing through the BIF should be directed to the Caribbean Financial Services Corporation, Radley Court, Collymore Rock, St, Michael, Barbados, West Indies, tel. (246) 431-6400, fax. (246) 426-1869.
The BIF will provide funds for capital cost components, i.e. equipment and real estate, as well as working capital support for investee companies.

Export Rediscount Facility

The Central Bank has sponsored this facility to assist in the promotion of non-traditional exports from Barbados. The Facility will allow exporters to obtain export finance at minimum cost.
All commercial banks operating in Barbados which maintain a reserve account with the Central Bank of Barbados are eligible to participate.
All exporters who possess bills receivable for the exportation of non-traditional goods, wholly or partially manufactured in Barbados, are eligible to participate in the Facility. The Central Bank reserves the right to impose discount limits for individual exporters.
Only bills with credit periods not in excess of 180 days will be considered for rediscount. Advances against sight bills will be considered upon request.