CDB and CAF Sign Deal to Boost Regional Development

• The Caribbean Development Bank (CDB), on June 10, 2025, signed a memorandum of understanding (MoU) with the Development Bank of Latin America and the Caribbean (CAF) aimed at boosting cooperation in key sectors that are essential to accelerating sustainable development for the Caribbean region.
• The MoU underscores the two institutions' shared commitment to sustainable growth, resilience, and inclusive development across Caribbean Community (CARICOM) countries. The agreement sets the stage for deeper collaboration in areas critical to Caribbean well-being, including food, water and energy security, resilient infrastructure, climate action, private sector development, and digitalisation. It also enables the banks to explore joint operations, parallel and co-financing, technical assistance, and knowledge sharing.
• With this agreement, both institutions can leverage their comparative strengths to respond more quickly and flexibly to regional development needs. This partnership will directly support national and regional priorities, as well as the United Nations Sustainable Development Goals (SDGs).
• The joint agenda also includes mechanisms for institutional strengthening, staff exchanges, post-disaster recovery support, and customised financing instruments for micro, small, and medium enterprises.

(Source: Trinidad Express Newspaper)