Bahamas, Dominica and Grenada to join CAF

March 07, 2024

With these inclusions, CAF is on its way to becoming the development bank with the largest presence in the region, which will translate into greater support for green and sustainable development projects.

Bahamas, Dominica and Grenada to join CAF

The Board of Directors of CAF met in Punta Cana, Dominican Republic, and authorized the allocation of its shares to facilitate the entry of new Caribbean countries through the incorporation of Bahamas, Dominica, Grenada as Series “C” members. This will allow these countries to access the technical, financial and knowledge services offered by the bank to its member countries to improve the quality of life of citizens.

“Our positioning in the Caribbean will give a new dimension to an organization that was created by six Andean countries (Bolivia, Chile, Colombia, Ecuador, Peru and Venezuela), which now fifty-six years later, has 21 shareholder countries and is one of the main sources of multilateral financing in the region. This expansion of CAF in the Caribbean will lead us to become the development bank with the widest coverage in Latin America and the Caribbean,” said Sergio Díaz-Granados, Executive President of CAF.

CAF took an important step 18 months ago to establish its Regional Office for the Caribbean, based in Trinidad and Tobago, with the aim of consolidating its development assistance to the Caribbean, particularly in support of climate action, water, energy, and food security, sustainable tourism, modernization of infrastructure and digital transformation, among other sectors. Shortly after, CAF integrated the Caribbean into its official trademark and logo, which is now the Development Bank of Latin America and the Caribbean.

CAF has an ambitious agenda to promote regional integration as well as the sustainable and inclusive development of the region. CAF is fully committed to providing development assistance to address the unique needs of Caribbean islands and small states, which are disproportionately impacted by the effects of climate change. Within the framework of the Bridgetown Initiative, CAF has already committed USD 15 million in support of the Blue-Green Bank initiative led by Barbados.