Building Caribbean resilience together: CARICOM Development Fund and the United States partner to launch US$100 million fund for regional development

Caption: Prime Minister the Hon. Mia Amor Mottley greets U.S. Ambassador Roger Nyhus at today’s launch event

The CARICOM Development Fund (CDF), in partnership with the United States officially launched the CARICOM Resilience Fund in Barbados. The new US$100 million fund, with technical assistance provided by the U.S. Agency for International Development/Eastern and Southern Caribbean, is dedicated to supporting initiatives that will enhance growth and resilience across the region in the face of climate change. It also aims to reduce a financing gap by expanding investment on adaptation and climate change in the eastern and southern Caribbean.

The Fund will make investments in resilience-focused small and medium enterprises (SMEs) and critical infrastructure projects through flexible debt and equity investments targeting six key sectors: renewable energy, clean transport, blue economy, sustainable agriculture, information and communication technology, and financial services.

Speaking at the opening ceremony of the launch event at the Hilton in Barbados, Prime Minister Mia Amor Mottley commended the CDF for taking this bold step to launch the new resilience fund and looked forward to the support of the region and interested parties to invest in the fund. In his remarks, U.S. Ambassador Roger Nyhus said: “The Resilience Fund symbolizes not just an allocation of resources, but a promise—a promise to invest in innovative solutions, technologies, and strategies that will fortify our societies against the changing climate patterns. It will contribute to preparing Caribbean countries to mitigate and adapt to adverse economic shocks, in particular those related to climate.”

Rodinald Soomer, Chief Executive Officer of the CDF, highlighted that “the CARICOM Resilience Fund is an integrated and transformative vehicle that will offer investors attractive social and economic returns on investments geared toward building economic and climate resilience in the Caribbean.”

At the event, CDF announced Sygnus Capital, a leading Caribbean investment firm, as the fund manager for the Resilience Fund. The CARICOM Resilience Fund has been under design and development since January 2023, with support from United States Agency for International Development/Eastern and Southern Caribbean. This
partnership underscores the commitment of both the CDF and the United States in creating a more prosperous, resilient, and sustainable future for the Eastern and Southern Caribbean. By leveraging resources, expertise, and collaborative efforts, the fund aims to make a lasting impact on the region’s development landscape.

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  1. Lin clown
    January 29, 2024

    All those years.We went to Grenada in 1983 as members of the Caribbean Peace-Keeping Force(CPF) in the name of democracy not for Dominica but for the USA.We never got an international airport from the USA for our role in Grenada,instead we got M60’s,M16’s,45 Pistols and M4 carbine.They built a military range in Trois Piton and gave us speed boats so we could learn to kill our people and to keep them in check for the USA.We never got a QBZ-95 or a QBZ-88 from Chine,if ole police know what that is.The Clown is a f++++++ patriot who have served Dominica well.That Mr.Just Asking is what we got from the USA.

  2. En Ba La
    January 29, 2024

    If we understood that these organizations are in place to drive us foreign policy which is it’s national security to make you not.a.yjreay,.resources what you have for them take in return and then use these organizations to fulfill their national security concerns make you as a country and people not a threat to it.

  3. En Ba La
    January 29, 2024

    this is what stupidity does. Accepting crumbs from the USA by not understanding geopolitics and looking only foe what you think you can get.
    It is too late.

    the nations in the Caribbean most still have Britain ties.

  4. Just Asking
    January 27, 2024

    Thanks but no thanks. This is so condescending, it’s all about China. Where was the U.S all those years, why did it have to take China to cause the U.S to NOW see the Caribbean as strategic importance with their miserly $100mil when they pamper Ukraine and Israel with billions? Is our brain-drain and labour technically being considered cheaper than Ukraine grain?

    Well-loved. Like or Dislike: Thumb up 6 Thumb down 2
    • Man bite dogs
      January 29, 2024

      @ Just Asking, that is one of the best comments I have read on this forum well said well written 100%

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