St. Vincent and the Grenadines becomes CAF shareholder

The Development Bank of Latin America and the Caribbean (CAF) has approved the incorporation of St. Vincent and the Grenadines as a Series C shareholder country, further extending the Bank’s development financing capabilities across the Caribbean.

The decision was made during CAF’s Board of Directors meeting in Lima, where the Board also approved USD 1.13 billion for new operations across the region. These funds will support initiatives in water security, citizen security, disaster response, and debt management. The meeting also marked the handover of the Board Chairmanship from Trinidad and Tobago to Uruguay, concluding Trinidad and Tobago’s historic tenure as the first English-speaking CARICOM country to preside over CAF’s Board.

With this incorporation, St. Vincent and the Grenadines will gain access to CAF’s flexible development financing instruments, technical cooperation, and knowledge programmes tailored to the needs of small island developing states. The move follows recent approvals for Dominica, Saint Lucia, Haiti, and Saint Kitts and Nevis, all at various stages of joining the Bank.

CAF Executive President Sergio Díaz-Granados welcomed the decision, stating: “St. Vincent and the Grenadines is joining a development bank that understands the realities of Caribbean small states and the development challenges of multi-island states, in particular. We are indeed pleased to deepen our partnership with St. Vincent and the Grenadines and are committed to providing practical, tailored financing solutions so that the government can deliver on its promise to the communities in the various islands.”

He added, “CAF is continuing to deepen its engagement in the region to support climate-resilient infrastructure, productive transformation, as well as sustainable and inclusive growth. We are pleased to welcome St. Vincent and the Grenadines into our CAF family of shareholder countries.”

Since opening its Regional Office for the Caribbean in 2022, CAF has more than tripled its Caribbean shareholder base, while also increasing investments and grant resources in areas such as energy transition, digital transformation, heritage tourism, technical and vocational education, private sector development, and the blue and green economy.

This latest move reflects CAF’s continued commitment to providing agile and flexible financing to CARICOM countries as it advances regional integration and sustainable development across Latin America and the Caribbean.