SIX local companies have been successful in accessing grant aid from the Caribbean Export Development Agency (CEDA) based on proposals for projects submitted last July. The Georgetown Chamber of Commerce and Industry (GCCI) disclosed, earlier this week,  that the applicants which succeeded are Forest Products Development & Marketing Council of Guyana Inc.; the Guyana Apicultural Society; Brass Aluminium & Cast Iron Foundry Ltd; Citrus Company of Guyana Inc.; the Guyana Manufacturing & Services Association and TCL Guyana Inc.
They are eligible to retrieve up to 70 percent of their project costs under the CEDA Direct Assistance Grant Aid Scheme.
The Barbados-based CEDA is a regional export and trade investment organisation of the Forum of Caribbean States also known as CARIFORUM, that is a beneficiary of the 10th European Development Fund (EDF) which has been implementing a regional private sector development programme.
The latter is aimed at integrating the CARIFORUM countries and get businesses to expand their facilities and growth.
The EDF financing usually lasts six years each and is the main instrument of EU aid for development cooperation in the African, Caribbean and Pacific (ACP) countries and the Overseas Countries and Territories (OCT).

VOLUNTARY DONATIONS
The funding is provided by voluntary donations from EU member states but the EDF is subject to its own financial rules and procedures and is managed by the European Commission (EC) and the European Investment Bank.
The Direct Assistance Grant Aid Scheme, from which the six Guyanese companies have benefited, provides financial support for  activities such as  alternative energy, agriculture, agro- processing,  creative industries, health and wellness, information and communications technology, manufacturing, professional services and tourism.
The six had responded to invitations for project proposals in July and applied to CEDA with assistance from the GCCI and GO-INVEST.
The funds they will receive are available to businesses throughout CARICOM countries which are exporting goods as a current line of business or contemplating doing so as an extension of their current activity.
A GCCI source said the six emerged successful from amongst a large number of applicants in CARIFORUM countries and had secured the funding largely due to the high quality of the proposals for their projects.