Oriel Doyle, President of the Co-operative Investment Fund (CIF).
BUSINESS MONDAY: INVESTMENT THRUST
IT is going to be a busy 2020 for the Co-operative Investment Fund (CIF).
That’s according to Oriel Doyle, President of the Fund, which was set up last year to boost investments in the credit union sector and to finance projects.
Noting that it will be an exceptional year for the Fund, Doyle has told Business Monday that they want to sensitise both the co-operatives and the public regarding the fund and the significance it can make to the overall co-operative movement in Barbados and the country as a whole.
“We will be hosting a co-operative symposium in February with the intention of placing potential co-operative investment projects on the table for discussion, as well as to receive pledges for the projects,” Doyle said in relation to the plans for this year.
“We also plan to roll out a new investment tool that will allow all Barbadians to contribute to the co-operative investment process,” he remarked.
A number of projects have so far been identified and they are attracting interest. “So we are keen on ensuring these projects get off the ground to show the co-operative model is the only tool at our disposal that would ensure and support economic empowerment for all,” according to Doyle.
He pointed out that they are also looking closely at developing services for co-operatives and co-operative members that would reduce their dependence on the commercial banking sector. These are to be discussed at the symposium.
“It will be an interesting year for us,” the President added.