St Kitts, Haiti get CAF ok as shareholder countries

Chairman Development Bank of Latin America and the Caribbean (CAF) board of directors Davendranath Tancoo, sixth right, with the board in Panama City, Panama on December 16. - Photo courtesy CAF

DEVELOPMENT Bank of Latin America and the Caribbean (CAF) on December 16 approved the incorporation of St Kitts and Nevis and Haiti as new shareholder countries.

The decision, taken during a board of directors meeting, opened the door for both countries to access agile and flexible development financing, technical assistance, and knowledge programmes tailored to the needs of small island and climate-vulnerable states, a news release from CAF said on December 16.

Minister of Finance Davendranath Tancoo is currently the chairman of CAF and presided over the meeting.

The release said, With these decisions, CAF will triple its shareholder countries in the Caribbean as compared with 2023.

During the meeting in Panama City, CAF approved US$3.175 billion for new operations across the region in areas such as electricity infrastructure, water security, sustainable transport, support for vulnerable communities, and financing for SMEs and productive sectors.

These approvals help to reinforce CAF’s growth and increased development assistance to the Caribbean.

In June 2025, during its board meeting in Seville, Spain, the institution approved the incorporation of St Lucia, and over the past twelve months has welcomed The Bahamas, Antigua and Barbuda, and Grenada into its shareholder base. CAF now counts six Caribbean shareholder countries with several others at various stages of the incorporation process. CAF is committed to continue strengthening its engagement with Caribbean governments and to providing agile and flexible development financing solutions that allow countries to advance their development priorities.

CAF executive president Sergio Diaz-Granados expressed his gratitude to the new shareholder countries, highlighting that the incorporation of the two countries reinforces CAF’s commitment to the Caribbean at a pivotal moment for the region.

“St Kitts and Nevis and Haiti are joining a home-grown development bank that was set up by the region for the region,” he said.

With its mandate to promote sustainable development and regional integration, he added that “CAF is more than a bank; it is a bridge that brings Latin America and the Caribbean closer together. We are focused on delivering solutions that reflect the realities of vulnerable Caribbean SIDS. CAF brings a fresh approach to development financing, one that works directly with each country to convert its development priorities into sustained progress and impactful development outcomes for their communities.”

The board of directors also confirmed Barbados' compliance with the conditions to transition to a full member country of the institution, joining Trinidad and Tobago as the only other CAF full member from Caricom.

The release said, “CAF’s engagement in the Caribbean has continued to deepen since the establishment of its regional office in Trinidad and Tobago in 2022. Since then, the institution has advanced a broad portfolio of initiatives across the region, including climate financing, resilient infrastructure, modernisation of public services, water security, cultural and heritage tourism, education and digital transformation programmes, initiatives that support the blue and green economy, and many other areas critical to the region’s development.