In a landmark move this September 2025, IDB Invest has unveiled its first-ever partnership in Barbados with a non-bank financial institution - a five-year, USD 5 million (BBD 10 million) loan to Cave Shepherd Card Inc., trading as Payce Digital. Why This Matters Bridging the credit divide: This pioneering partnership aims to extend credit and digital payment services to underbanked and...
Barbados’ micro, small, and medium-sized enterprises (MSMEs) are set to benefit from a major financial boost as the Inter-American Development Bank (IDB) extends a $100 million loan to the Central Bank of Barbados. The funding will strengthen the Central Bank’s Enhanced Credit Guarantee Fund (ECGF), designed to ease access to credit for local businesses. Since its launch in 2015, the ECGF has...
Sagicor Financial Company Ltd has reported significant gains in revenue and investment income from its insurance business in Barbados for the first half of 2025. According to the company’s unaudited condensed financial statements for the six months ending June 30, Sagicor Life Barbados recorded insurance revenue of $130.6 million, up from $124.8 million in the same period last year. For the second...
The Caribbean Development Bank (CDB) has awarded an estimated USD 420,000 in grants to twenty women-owned and led Micro, Small, and Medium-sized Enterprises (WMSMEs) across seven of its Borrowing Member Countries (BMCs). The funding, delivered through the Bank’s SheTrades Caribbean Regional Hub Grow and Go Grant Facility, is aimed at helping these entrepreneurs expand operations, access new markets,...
Barbados attracted $367.3 million in foreign direct investment (FDI) in the first half of 2025 — a sharp increase of $109.9 million compared to the same period last year, according to the Central Bank of Barbados. The figure surpasses the $257.4 million recorded in the first half of 2024 and puts the country well on track to exceed the $523 million total for all of last year. Central Bank Governor Dr...
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...
The Central Bank of Barbados is preparing to launch a transformative Instant Payments System (IPS) in March 2026, a move that promises to make financial transactions faster, safer, cheaper and more inclusive across the economy. The IPS is part of the Barbados Payments Modernisation Project, being implemented with support from the World Bank, and is set to overhaul the island’s outdated and fragmented...
Barbados will officially be removed from the European Union’s list of high-risk third countries on August 5, paving the way for smoother financial transactions and improved business relations with European institutions. Attorney General Dale Marshall confirmed the development, noting that the relevant legislation was published in the EU’s Official Journal this week. “This move brings welcome...
Barbados is poised to become the first country to pilot a new regional debt-for-resilience facility, a groundbreaking financial model designed to redirect costly debt repayments toward sustainable development and social investment. This innovative mechanism—supported by four major multilateral development banks—will allow participating Caribbean nations to swap expensive government bonds for...
Barbados’ financial system reached a record size in 2024, with total assets rising to $30.3 billion, according to the latest Financial Stability Report (FSR) released by the Central Bank of Barbados and the Financial Services Commission (FSC). This represents a notable increase from $29 billion in 2023, with credit expansion across multiple financial institutions fueling the growth. Commercial Banks...