News & Events

The CARICOM Development Fund (CDF) and African Export-Import Bank (Afreximbank) have signed a €708,000 grant agreement to establish a Green, Resilience, and Sustainability Facility (GRSF). The signing took place during CARICOM’s 48th Regular Meeting of Heads of Government in Barbados.

The GRSF aims to provide blended and concessional financing to CARICOM member states, supporting infrastructure development, climate adaptation, and sustainable development initiatives. This facility will help address the region’s estimated US$20 billion resilience financing shortfall.

CDF Chief Executive Mr Rodinald Soomer highlighted the grant’s importance for Caribbean sustainability, whilst Afreximbank President Prof Benedict Oramah emphasised its role in supporting countries facing climate-related economic challenges. This agreement follows the strategic partnership established between both organisations in August 2023, when CDF became a shareholder in Afreximbank. The initiative complements CDF’s other partnerships, including their collaboration with USAID on the Caribbean Community Resilience Fund, demonstrating their commitment to mobilising investment for regional development and climate resilience.

Read the original article here: https://afreximbank.africa-newsroom.com/press/caricom-development-fund-and-afreximbank-sign-grant-agreement-to-establish-green-resilience-and-sustainability-facility?lang=en 

A delegation from the Mano River Union (MRU) recently completed a successful visit to the Busia One Stop Border Post (OSBP) between Kenya and Uganda to study efficient cross-border trading systems that support women traders. The delegation included women traders and border officials from Liberia and Sierra Leone, along with African Development Bank representatives.

Established in 2018, the Busia OSBP is one of East Africa’s busiest border crossings, managing over 3,000 people and 900 vehicles daily. The facility has revolutionised cross-border commerce and serves as an exemplar for streamlined border procedures between the two nations. The visit was part of the African Development Bank’s BI-BEST project, which aims to support 1,500 women traders in Liberia and Sierra Leone. The delegation met with various Kenyan officials and local women traders, who shared their experiences of the OSBP’s positive impact.

Notable improvements at the border post include a children’s daycare centre, simplified trade procedures, and dedicated support facilities for women traders. Local traders reported significant benefits, whilst delegates from Sierra Leone and Liberia expressed enthusiasm about implementing similar systems in their regions.

Read the original article here: https://afdb.africa-newsroom.com/press/mano-river-union-delegation-studies-successful-border-post-model-to-enhance-womens-crossborder-trade?lang=en

The 48th CARICOM Heads of Government Conference opened Wednesday in Bridgetown, Barbados, under the theme “Strength in Unity: Building Caribbean Resilience, Inclusive Growth, and Sustainable Development.” Chaired by Barbados PM Mia Mottley and Secretary-General Carla Barnett, the two-day summit brings together regional and international leaders to address critical Caribbean issues.

The agenda focuses on pressing challenges including food security, climate change and finance, Haiti’s ongoing situation, digital resilience, and advancing the CARICOM Single Market and Economy. Leaders will also discuss reparations for slavery and improvements to maritime and air transportation infrastructure. Notable speakers include UN Secretary-General Antonio Guterres and EU Commission President Ursula von der Leyen, who join regional leaders from Grenada, Montserrat, and other Caribbean nations.

Read the original article here: https://www.periodico26.cu/index.php/en/worlds-news-2/20610-barbados-hosts-caricom-conference