BRASILIA, Brazil, CMC – The Caribbean Improvement Financial institution (CDB) Tuesday signed a memorandum of understanding (MoU) with the Improvement Financial institution of Latin America and the Caribbean (CAF) geared toward boosting cooperation in key sectors which might be important to accelerating sustainable growth for the Caribbean area.
The MoU underscores the 2 establishments’ shared dedication to sustainable progress, resilience, and inclusive growth throughout Caribbean Group (CARICOM) nations. The CDB acknowledged that the settlement units the stage for deeper collaboration in areas vital to Caribbean well-being, together with meals, water, and vitality safety, resilient infrastructure, local weather motion, personal sector growth, and digitalization.
It additionally permits the banks to discover joint operations, parallel and co-financing, technical help, and data sharing.
“This MoU is greater than a doc. It’s a dedication to the folks of the Caribbean. It offers us the platform to scale up financing, unlock innovation, and ship extra well timed, coordinated options to probably the most urgent challenges our nations face, from local weather shocks to infrastructure gaps and financial stagnation,” mentioned CDB Vice President Operations, Dr. Isaac Solomon.
“CDB is constructing a strategic alliance with CAF that may deliver actual and lasting advantages to Caribbean residents,” he added.
CAF Vice President for Non-public Sector Antonio Silveira mentioned he was happy “ to see this MoU formalized, and we’re wanting to strengthen our collaboration with the CDB to advance initiatives and initiatives that may impression the lives of Caribbean folks.
“We imagine that we may help speed up the implementation of precedence investments within the area by aligning our financing devices, data, and technical capability. Collectively, we’re totally dedicated to supporting the Caribbean’s sustainable and inclusive progress with new options that may be deployed whereas sustaining our deal with agility and suppleness,” he added.
The CDB acknowledged that, with this settlement, each establishments will leverage their comparative strengths to reply extra rapidly and flexibly to regional growth wants. The partnership will straight assist nationwide and regional growth priorities, in addition to the United Nations Sustainable Improvement Targets (SDG).
It mentioned that the joint agenda consists of mechanisms for institutional strengthening, workers exchanges, post-disaster restoration assist, and tailor-made financing devices for micro, small, and medium enterprises.
The MoU, which was signed on the CDB’s fifty fifth Annual Assembly at present underway in Brasilia, was witnessed by the CDB’s basic counsel, Diana Wilson-Patrick, and Dr. Stacy Richards-Kennedy, CAF regional supervisor for the Caribbean.
