Barbados proudly celebrates the appointment of Daniel Best as the seventh president of the Caribbean Development Bank (CDB). The CDB’s board of governors announced the historic decision on Wednesday, marking a pivotal moment for the institution and the region. In its official statement, the CDB emphasized Best’s extensive expertise and visionary leadership. “This decision underscores the bank’s...
Developing and owning hotels in the Caribbean comes with its unique challenges—local labor laws, weather unpredictability, and cultural nuances all contribute to the complexity. To mitigate these risks, a growing number of hotel owners are turning to third-party management companies, a trend that's reshaping the region’s hospitality landscape. At the recent Caribbean Hotel Investment Conference and...
Barbados has successfully executed the world's first debt-for-climate-resilience operation, securing financing to modernize its water and sewage infrastructure in the face of climate change. This groundbreaking initiative, supported by international funding partners, replaces expensive debt with affordable financing, generating $125 million in fiscal savings to enhance water management and food...
On Saturday, Prime Minister Mia Amor Mottley of Barbados hosted a strategic meeting with the Prime Minister of Trinidad and Tobago, Dr. Keith Rowley; President of Guyana, Dr. Irfaan Ali; and St. Vincent and the Grenadines’ Finance Minister, Camillo Gonsalves. The high-level talks were conducted with a bipartisan Congressional Delegation led by United States House Minority Leader Hakeem Jeffries. This...
Barbados is embarking on a cultural renaissance with a series of ambitious heritage and creative projects set to reshape the island's cultural hubs over the next two years. Prime Minister Mia Mottley shared this vision during the opening of the Marcus Garvey Amphitheatre at Queen’s Park on Thursday, promising spaces that celebrate Barbadian history, creativity, and community. Revitalizing Queen’s...
Barbados has formalized a significant $500 million agreement with the Export-Import Bank of the United States (EXIM Bank), aimed at strengthening essential sectors such as renewable energy, cybersecurity, water infrastructure, and maritime security. The Memorandum of Understanding (MOU), signed by Prime Minister Mia Mottley and EXIM Bank Chairman and President, Reta Jo Lewis, is set to remain in effect...
Strengthening the historical and cultural bonds between India and the Caribbean Community (CARICOM), Indian Prime Minister Shri Narendra Modi has unveiled an ambitious seven-point agenda aimed at fostering deeper collaboration and driving development in the region. The announcement came during the Second India-CARICOM Summit, held on Wednesday at the Marriott Hotel in Georgetown, Guyana—a historic...
Hyatt Hotels Corporation has announced plans to expand its footprint in the Caribbean with the upcoming launch of Dreams Cap Cana Resort & Spa in the Dominican Republic. Developed in partnership with Cobbo Bay Developers SA, the new resort is scheduled to open by the end of the year, featuring 519 luxurious accommodations, including 40 villas and 100 swim-up suites. The property is designed to offer...
Barbados is positioning itself as a gateway for UK businesses eager to expand into the Caribbean, offering a stable economy, modern infrastructure, and a vibrant trade partnership with Britain. These opportunities were spotlighted as the 2024 UK Trade and Investment Mission to Barbados officially kicked off this week. The opening event, hosted at the elegant Crane Resort, was a collaboration between...
The Caribbean Development Bank (CDB) has issued a clarion call for regional governments to foster dynamic ecosystems that elevate businesses to international competitiveness. Speaking at a recent launch event, Ian Durant, the CDB's Director of Economics, emphasized the urgent need for targeted reforms to empower businesses and position them as global contenders. Durant pointed out that while the...