The EC funded Special Framework of Assistance 2005 (SFA 2005), which covers traditional ACP banana exporters, aims to support competitiveness of banana production, or support diversification when competitiveness is no longer attainable. In the case of Saint Vincent and the Grenadines a strategic decision has been taken by the Government, and supported by the EC, to pursue economic diversification.
Through this framework finances have been put aside for the development of e-business incubators in three Caribbean countries, Saint Vincent and the Grenadines being one of them. Thus, one specific component of the SFA 2005 is the Business Skills Development and E-Business Incubators Project, which is designed to support agricultural and economic diversification by further supporting development of alternative economic activities in the agricultural and other productive sectors..
The project purpose is to "further economic diversification and improve competitiveness and employment capacity of the agricultural and other productive sectors in St Vincent and the Grenadines through creating the appropriate environment and human resource pool for the introduction and sustainable use of Information and Communication Technologies (lCT)".