Caribbean Development bank head urges fresh collaborations to scale funding throughout the Caribbean and Africa

At the African Investment Forum (AIF) Market Days held in Rabat, Morocco, Daniel M. Best, President of the Caribbean Development Bank (CDB), delivered a keynote address emphasizing the importance of mobilizing large-scale investments through innovative partnerships. As outlined by CDB via press release, he called on governments, Development Finance Institutions (DFIs), and private sector investors to leverage Public-Private Partnerships (PPPs), blended finance arrangements, and strategic alliances to unlock Africa’s and the Caribbean’s full development potential.

Under the theme “Bridging the Gap: Mobilizing Private Capital to Unlock Africa’s Full Potential,” Best highlighted the common hurdles and opportunities faced by both regions. Among these challenges are limited fiscal capacity, climate change risks, and significant infrastructure deficits. He reportedly urged stakeholders to pursue bold and creative collaborations that can turn these challenges into attractive investment prospects.

“Capital is a means, not an end,” noted President Best. “Infrastructure becomes development only when it improves lives-making societies more dynamic, inclusive, and resilient. Well-structured partnerships deliver more than assets; they deliver confidence, jobs, and growth that reach communities.”

CDB reported that the president emphasized the critical influence of DFIs in fostering investment ecosystems, citing projects such as Dominica’s geothermal energy initiative and regional risk-sharing schemes like the Caribbean Catastrophe Risk Insurance Facility. He pointed out that blended finance and PPPs are vital mechanisms for attracting private capital and advancing key sectors essential for long-term economic competitiveness.

“Africa and the Caribbean stand at a similar crossroads,” Mr. Best added. “Our challenges may be significant, but together our potential is far greater. With partnership, discipline, and ambition, we can unlock capital at scale and deliver development that endures.”

Best also called for increased collaboration between Africa and the Caribbean in areas like project development, PPP structuring, and climate resilience investments. He noted that platforms such as the AIF offer unique opportunities to align stakeholders, share successful models, and scale impactful solutions.

AIF gathered top global voices to accelerate investments across vital sectors including energy, transportation, and healthcare. Best participated in a panel alongside influential development leaders, exploring how innovative partnerships, blended finance, and deliberate risk-sharing can unlock investment at a larger scale. Panel discussions highlighted the pivotal role of DFIs in de-risking projects, designing investment products, and building investor confidence—affirming that strategic cooperation and careful planning are essential for bridging the financing gap and fostering sustainable growth in both Africa and the Caribbean, as per the release.