The Caribbean Development Bank (CDB) has announced the launch of a new EUR 4 million Grant Facility, funded by the Agence Française de Développement (AFD). This facility aims to support CDB’s Borrowing Member Countries (BMCs) in executing development initiatives that are climate-resilient, gender-responsive, and focused on agriculture.
This grant marks a continued collaboration between CDB and AFD under AFD’s Latin America and Caribbean Investment Facility. It addresses common technical and financial barriers that prevent the execution of vital projects, aligning with both institutions’ commitments to sustainable development in the Caribbean.
The five-year initiative will fund a range of activities including a regional gender research fund, agriculture-based investment grants, the development of biodiversity finance tracking systems, sectoral studies, and capacity-building efforts. It also includes the deployment of a Project Coordinator to oversee implementation and ensure coordination.
The Grant Facility complements a USD 50 million AFD-funded Credit Facility signed with CDB in 2023. That facility supports public sector projects that deliver climate benefits and mandatory gender mainstreaming, contributing to infrastructure and education improvements in countries such as Saint Vincent and the Grenadines, Grenada, and Saint Lucia.
This latest initiative builds on the outcomes of the 2016 AFD-Caribbean Investment Facility Programme, which included a USD 33 million Credit Facility and a EUR 3 million Technical Assistance Grant. Past achievements include energy-efficient street lighting in Jamaica and Suriname, sea defense systems in Saint Vincent and the Grenadines, and water security projects in Saint Lucia.
