mar-2018c

14 15 theworld.In order to harness that power,it is necessary to have collective bodies tomarshal those resources Wenham told attendees. “As a result,we nowhave a global trade body,WIN,to represent and promote the interests of the thousands of companies in theworldworking in local markets, but with international reach.We look forward to help- ing in the creation of a regional trade association to help the thriving local industry reach its full potential,” she said. Withmembership across all continents,WINpro- vides a collective voice and platform for independent music companies and their national trade associations. Recognizing the cultural and creative industries as an important mechanism to drive economicdiversifica- tion in its borrowingmember countries (BMCs),CDB, in 2017,approved a Cultural and Creative Industries Innovation Fund (CIIF). Lisa Harding,Coordinator,Micro,Small andMedi- um-Sized Enterprise,Technical CooperationDivision, CDB,toldworkshop participants that the regional music industry stands to benefit significantlywhen the Fund is operationalised,later this year. “There are three components of the CIIF.Onewill support the enabling environment for developing the cultural industries sector,with a focus on legislative reforms and incentive policies.Secondly,it will address funding for data capture,and improve the quality, depth and dissemination of research on the sector.And thirdly,what I thinkmost of youwould be interested in, is that the Fundwill also support actual entrepreneurs involved in the creative industry to build their capacity OPENING LINES in various forms,”she said during the workshop opening. CDB ismaking an initial investment of US$2.6million to themulti-donor fund,which is expected to improve the competitiveness of the cultural and creative industries sector in its BMCs.The bank’s work in the creative industries also includes training in the business of music,where 483 industry practitioners were trained (267men and 216women) in Barbados and Jamaica in 2016 and 2017respectively, to understand howto effectivelyman- age their musicbusinesses.