Since its launch in 2022 by Prime Minister Philip J. Pierre, the Youth Economy Agency (YEA) has made remarkable progress in addressing the needs and aspirations of young people across Saint Lucia.
On March 3, the YEA received high commendation at the Caribbean Development Bank (CDB) Annual News Conference, where the Bank’s leadership recognized it as a premier model for fostering youth entrepreneurship and economic innovation in the region. The initiative has successfully transformed hobbies into sustainable businesses, benefiting over 1,000 young people.
Daniel Best, President of the CDB, emphasized that the YEA serves as a powerful example of how strategic investment in youth can drive entrepreneurship and economic opportunity throughout the Caribbean. He highlighted the program’s transformative impact, notably through a US$7.6 million co-financing initiative from the CDB.
The YEA empowers young people with the resources and innovation platforms needed to drive economic growth. It embodies a belief in youth as catalysts for social and economic progress, aligning with regional development goals.
The Agency continues to support Saint Lucian youth in turning their hobbies into entrepreneurial ventures.
Best specifically cited twenty-five-year-old Arissa Dennis, the owner of Pure Hydro Farms. With the grant funded by the CDB, Arissa is one of 1,080 young beneficiaries in Saint Lucia.
Her business focuses on producing sustainable vegetables and has expanded to include beets, tomatoes, and other fresh produce.
Best also recognized Kayode James, a 30-year-old entrepreneur and visually impaired individual who operates a 3D printing business. “Through the YEA grant, he has been able to expand his product offerings,” he noted.
These individuals are not just transforming their own lives but also contributing positively to their local economies, he added.
The Youth Economy Agency is lauded as one of Saint Lucia’s most substantial investments in the future of its youth. Recent regional acclaim underscores its innovative approach, and plans are in place to double the resources allocated to the YEA for the next term to extend its reach.
For the first time, young people have access to a dedicated economic agency that provides financing, tools, training, and genuine opportunities to build businesses, create jobs, and influence the economy. From grants and skills training to digital entrepreneurship and agricultural innovation, the YEA proves that investing in youth can uplift the entire nation.
This initiative reflects leadership that believes in potential, opens doors, and makes room for the next generation.
Key Highlights of the YEA’s Progress and Partnership with the CDB:
– High Commendation: The CDB commended the YEA as a strong model of strategic investment driving economic opportunities.
– Significant Impact: Over 1,000 young people have benefited from the agency’s programs.
– Investment & Training: By October 2025, more than 1,000 individuals are expected to be trained, with over 500 grants/loans disbursed, totaling more than EC$9 million in direct investment.
– Strong Partnership: The CDB’s partnership with Saint Lucia has strengthened, with initiatives exceeding USD 63 million in loan and grant funding (as of February 2024).
– Future Growth: Prime Minister Pierre plans to increase the budgetary allocation for the agency’s grant component.
Established in 2022, the YEA is a cornerstone of Saint Lucia’s economic development, focusing on training, mentorship, and financing for youth ages 18 to 35.