Barbados has been officially approved for Series “A” shareholder status by the Board of Directors of CAF – Development Bank of Latin America and the Caribbean, marking a major milestone in the island’s international financial standing.
This upgrade, CAF’s highest level of membership, positions Barbados for greater access to development funds and grants the country a seat on the bank’s board, significantly increasing its influence within the institution. Once the transition is complete, Barbados will join Trinidad and Tobago as the only CARICOM nations with full membership status.
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“We are truly honoured by the trust and confidence placed in CAF by the Government of Barbados,” said Sergio Díaz-Granados, CAF’s Executive President. “Barbados, under the leadership of Prime Minister Mia Amor Mottley, has been a powerful voice for climate justice and is pursuing an ambitious agenda to build resilience for its people.”
Díaz-Granados also reaffirmed CAF’s commitment to supporting Caribbean Small Island Developing States (SIDS) and welcomed Barbados’ continued leadership on global climate reform.
Bridgetown Office to Bolster Regional Support
CAF is set to open a new office in Bridgetown, marking an expanded presence in the Eastern Caribbean. This office will not only serve Barbados but also support neighboring countries, offering technical expertise and financial resources tailored to the region’s development needs.
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A Regional Leader in Climate Finance
Barbados has been a CAF member since 2014 and has recently taken a leading role in global climate finance through initiatives such as the Bridgetown Initiative. In support, CAF has pledged US$15 million toward the Blue-Green Bank, an ambitious platform proposed by Barbados to help mobilize funding for the blue economy and green energy transitions throughout the Caribbean.
With this upgrade to Series A, Barbados enhances its capacity to shape, access, and implement large-scale development projects aimed at sustainable growth and resilience for its citizens and the wider region.
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