CDB and CAF Sign MOU to Accelerate Sustainable Development Across the Caribbean

By Caribbean Business Report

The Caribbean Development Bank (CDB) and CAF – Development Bank of Latin America and the Caribbean have signed a Memorandum of Understanding (MOU) aimed at boosting cooperation in key sectors that are essential to accelerating sustainable development for the Caribbean region. 

The MOU, which was signed by CDB Vice President (Operations) Dr. Isaac Solomon and CAF Vice President for Private Sector Antonio Silveira, underscores the institutions’ shared commitment to sustainable growth, resilience, and inclusive development across CARICOM countries.

 The agreement sets the stage for deeper collaboration in areas critical to Caribbean well-being, including food, water and energy security, resilient infrastructure, climate action, private sector development, and digitalization. It also enables the banks to explore joint operations, parallel and co-financing, technical assistance, and knowledge sharing. 

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With this agreement, both institutions will leverage their comparative strengths to respond faster and more flexibly to regional development needs. The partnership will directly support national and regional development priorities, as well as the Sustainable Development Goals. 

The joint agenda includes mechanisms for institutional strengthening, staff exchanges, post-disaster recovery support, and tailored financing instruments for micro, small and medium enterprises.