Barbados could see up to US$400 million in new investment deals financed by the African Export-Import Bank (Afreximbank), as part of a broader US$2.5 billion pipeline of projects earmarked for the Caribbean region.
Afreximbank President and Chairman, Professor Benedict Oramah, announced the figures during the opening of the 4th AfriCaribbean Trade and Investment Forum in Grenada. He noted that Barbados has already received US$25 million in funding for the redevelopment of the Kensington Oval, a facility now also positioned as a venue for cultural and creative events.
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Oramah explained that Jamaica’s recent entry into the Afreximbank-Caribbean partnership has boosted the financing cap for the region from US$1.5 billion to US$3 billion, opening the door to increased economic cooperation and capital flow into various strategic sectors.
“In Barbados, the bank is currently considering deals worth around US$400 million across multiple sectors of the economy,” Oramah stated during his address, which was attended by Prime Minister Mia Amor Mottley and other regional leaders.
He highlighted that it was a 2021 meeting with Mottley that catalyzed the formal relationship between the Caribbean and the pan-African bank. Since then, 13 of the 14 CARICOM states have signed partnership agreements with Afreximbank, with 11 already ratified, providing a legal foundation for deeper engagement.
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Afreximbank has also established a regional office in Bridgetown, Barbados, and is in the process of constructing the Afreximbank Africa Trade Centre in the capital — a nearly US$200 million project featuring twin towers that will host innovation labs, digital trade platforms, SME incubation spaces, a hotel, and a major conference facility.
“This is not just symbolic architecture,” said Oramah. “It’s a signal of our unshakable commitment to Caribbean development and a functional hub for Africa–Caribbean trade and investment.”
Beyond Barbados, Afreximbank’s Caribbean investments include:
- US$250 million in co-financing for a world-class tertiary hospital in Grenada
- US$500 million in enterprise development, infrastructure, and an exhibition centre in The Bahamas
- US$500 million in financing for Suriname’s Staatsolie to acquire a 20% stake in the GranMorgu offshore oil field
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Speaking at the forum, Grenada Prime Minister Dickon Mitchell said the region must now prioritize economic connectivity and commercial opportunity, adding, “It is about money, business, trade, and investment… and building direct shipping and airline routes between Africa and the Caribbean.”
He acknowledged the swift progress over the last four years, saying the development of Afreximbank’s headquarters in Bridgetown and billions in financing had once seemed unlikely — but now serve as proof that Africa–Caribbean economic collaboration is no longer just aspirational, it’s underway.
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