Grenada Summary

 

Risk Identified in Business Case How addressed / mitigated
Environmental

–       Stock Health

–       Natural Disasters

 See recommendations associated with Governance (below)
Governance

–       Fishery Management

–       Policy and Legal Framework

–       Monitoring and Enforcement

 The proposed Grenada Tuna Draft Workplan Nov 30 2018 identifies and incorporates key interventions to address these risks, providing a timeline, prioritization and suggested responsible parties
Social

–       Subsistence Fisheries

–       Social Norms

–       Incentives

 The proposed workplan recognizes the social challenges associated with the marlin and tuna fisheries in the context, and incorporates a gradual approach to changes in practices; a provision to improve domestic and market recognition for improved fisheries management and proposes alternative income opportunities tied to the tuna fishery
Enterprise

–       Country

–       Delivery

–       Management

–       Operational

–       Economic

–       Price

–       Market assessment

 Organizational capacity assessments identified significant delivery, management, operational risks remain with the interventions proposed with the CBOs, which will take time to address.

 

Organizational capacity assessments identified significant delivery, management and operational capacity exists with the main exporters.  It is recommended that they should be engaged to implement the proposed interventions in support of project objectives and the reduction in marlin landings. They are well positioned to capture market improvements in the short term.

 

The completed market demand assessment confirmed the high risks associated with a “commodity trap” from either improving grades or from loining due to significant global competition, transportation and logistical challenges consistent with the business case assumptions.

 

A differentiation strategy, tied to Pure Grenada, source of product and “terroir” is proposed to improve market recognition and reduce ease of substitution in the SE USA in the short term

Alternative, more shelf stable, higher yielding option is proposed to diversify tuna uses, provide local investment and employment and build on the Caribbean product source in the medium term.
Structuring an investment

–       Lack of a cost effective mechanism to aggregate capital; deliver on strategy; capture financial returns; secure environmental outcomes

 Workplan proposes parties responsible for different elements of the “parallel strategy” to be implemented

 

Recommend local CBO are supported through existing credit and cooperative financing mechanisms.

Strengthening of intermediary lending through local banks

Provision of a guarantee / first loss mechanism to local banks and credit cooperatives in collaboration with the Blue Innovation Institute