The Caribbean Development Bank (CDB) has taken a major step toward expanding development financing across the region following approval of a groundbreaking US$200 million First-Loss Portfolio Credit Guarantee supported by the Government of Canada. Approved during the Bank’s 56th Annual Meeting, the initiative is expected to significantly strengthen CDB’s lending capacity, creating up to US$400...
IDB Invest is significantly increasing its investment activity in Barbados, with plans to provide between US$80 million and US$100 million annually to support critical infrastructure, housing, water, sanitation, and private sector development projects. The announcement was made by James Scriven during the organization's Sustainability Week 2026 conference, held at Wyndham Grand Barbados Sam Lord’s...
Barbados is increasingly positioning itself as a compelling jurisdiction for the growth of Managing General Agents (MGAs), as global demand for specialised and flexible insurance models continues to rise. Speaking at the Barbados Risk & Insurance Management (BRIM) Conference, Robert Ali, Chief Operating Officer of Active Re, highlighted the island’s strong potential to support the next phase of...
The Central Bank of Barbados is taking a significant step to improve access to financing for small businesses through its Enhanced Credit Guarantee Fund (ECGF)—a programme designed to reduce lending risk and unlock capital for micro, small, and medium-sized enterprises (MSMEs). The initiative was highlighted by Darrin Downes at the State of the Sector Conference hosted by the Small Business...
Barbados has formally stepped forward to host the secretariat of the newly launched Borrowers’ Platform, positioning itself at the center of a growing global movement to reform the international financial system. The announcement came during the Spring Meetings of the World Bank and the International Monetary Fund in Washington, where leaders from developing nations gathered to address mounting debt...
Barbados’ captive insurance sector continues to expand, adapting to global industry shifts while reinforcing its position as one of the world’s leading captive domiciles. With over 270 active captive insurance companies and a ranking among the top global jurisdictions, the island remains a key hub for international risk management solutions. At the 2026 Barbados Risk & Insurance Management...
Barbados is set to take a major step toward financial inclusion with the launch of BiMPay, a new instant digital payment platform developed by the Central Bank of Barbados. Scheduled to roll out on June 12, the system aims to transform how Barbadians access and use financial services—particularly for those who remain outside the traditional banking system. Governor Dr Kevin Greenidge described BiMPay...
The African Export-Import Bank (Afreximbank) has significantly expanded its financial commitment to the Caribbean Community (CARICOM), raising its regional financing cap from US$3 billion to US$5 billion. The announcement was made during the 50th Regular Meeting of the Conference of Heads of Government of CARICOM held on 25 February 2026 in Basseterre, St. Kitts and Nevis. The increase reflects...
Barbados has officially rebased its Gross Domestic Product (GDP), updating the base year from 2016 to 2023. The move, undertaken by the Barbados Statistical Service, modernizes the country’s national accounts framework and ensures that economic measurements more accurately reflect current production patterns, price structures, and sectoral contributions. GDP rebasing is a standard statistical...
Barbados’ financial system continues to demonstrate resilience, supported by solid regulation, improving global credibility and steady progress in modernising its payments infrastructure, according to recent assessments by the Central Bank of Barbados and the Financial Services Commission. These themes were underscored in July, when the two regulators hosted a roundtable to launch the 2024 Financial...