News Room

Financial Information Month is observed in October in all the islands, which make up the Eastern Caribbean Currency Union (ECCU). This year’s theme is “Challenge Yourself: Innovate, Compete, Succeed. It is therefore fitting that we focus on terms, which we think will lead to the development of member states. This week’s term is most relevant, as it has formed the backbone of the Saint Lucian economy for many years. This week’s term – Agribusiness.

Agribusiness is a term used to describe the various businesses involved in food production, including farming and contract farming, seed supply, agrichemicals, farm machinery, wholesale and distribution, processing, marketing, and retail sales.

What does this mean for you?

The development of a sustainable food supply is critical to any nation. Over the years, we have seen an increase in the diversification of agricultural produce grown locally. This diversity has opened a number of new markets for farmers and has allowed them to become more competitive. Food security is important to every country and Saint Lucia is no exception. It is therefore vital that we provide our farmers with as much support as possible.Agribusiness can play a serious role in not only providing food for local consumption and possible export but also in securing the country’s bottom line. For more information on support for Agribusiness, call Bank of Saint Lucia’s Agri-business Services Unit at 457-7120.