The World Bank’s Board of Executive Directors has greenlit a major new energy initiative—the Caribbean Resilient Renewable Energy Infrastructure Investment Facility—targeting Grenada, Saint Lucia, and Saint Vincent and the Grenadines. Developed in collaboration with the Eastern Caribbean Central Bank and regional governments, the initiative aims to drive the transition to clean, reliable, and...
Caribbean Export Development Agency (CEDA) is preparing to roll out a new grant programme aimed at fostering digital transformation and green innovation across the region. Set to launch within the next two months, the initiative targets entrepreneurs and firms developing solutions that promote climate resilience or digital competitiveness. “This is your opportunity to start with a little seed and...
Barbados’ recent credit rating upgrade by Moody’s is expected to lower borrowing costs, attract more investment, and create room for greater public spending—all positive signs for the island’s economic trajectory, according to leading economist Professor Justin Robinson. Moody’s decision to lift the country’s long-term issuer and senior unsecured ratings from B3 to B2, while maintaining a...
Waldorf Astoria, Hilton’s flagship luxury brand, has unveiled plans for a new high-end residential resort in the Caribbean, marking a significant expansion into one of the region’s most sought-after destinations—Turks and Caicos. Scheduled to debut in 2028, the Waldorf Astoria Turks and Caicos on Dellis Cay will become only the second Waldorf-branded resort in the entire Caribbean and the first in...
Barbados has earned an upgrade in its long-term issuer ratings from B3 to B2 by Moody’s Ratings, reflecting the country's sustained fiscal discipline, economic recovery, and improved debt management. The outlook remains stable. According to Moody’s, the rating improvement stems from Barbados’ consistent primary surpluses, narrowing fiscal deficits, and a firm downward trajectory in public debt....
A US$2.93 million (BDS$5.92 million) coastal fisheries resilience initiative has been launched to support the recovery and modernization of Barbados’ fishing sector following the devastating impact of Hurricane Beryl in 2024. The project, backed by the United Nations and the government of Japan, was officially unveiled on Monday. The year-long initiative is a collaborative effort between the Ministry...
Barbados now boasts the largest electric bus fleet in the Western Hemisphere, thanks to the formal handover of 30 new electric buses from the People’s Republic of China. This latest donation brings the island’s total to 89 electric buses and marks the third delivery in an ongoing partnership between the two nations. Deputy Prime Minister and Minister of Transport and Works, Santia Bradshaw,...
Barbados and China have reaffirmed their shared commitment to climate action and sustainable development, with a renewed focus on zero-carbon initiatives. This came as officials from both countries gathered in Rockley for a networking session aimed at deepening cooperation on clean energy and low-carbon innovation. The event, held at the Accra Beach Hotel and Spa, was organised by the Association of...
“Trade and investment must be at the centre of the Commonwealth’s renewal,” declared Commonwealth Secretary-General Shirley Ayorkor Botchwey during the 2025 Commonwealth Trade and Investment Summit. Her remarks came at a pivotal time of global economic disruption, marked by sweeping tariffs that have unsettled markets worldwide and affected several Commonwealth countries directly. "This is no...
Barbados is charting an ambitious new course to solidify its status as a global insurance hub, with the Financial Services Commission (FSC) unveiling a series of strategic initiatives to boost efficiency, innovation, and regulatory agility in the $174 billion insurance sector. FSC Chairman Oliver Jordan, speaking at the recent Barbados Risk and Insurance Management (BRIM) conference hosted by BIBA –...