IDB Holds XIII Annual Consultation with Caribbean Governors, Announces Regional Initiatives and $1.1 Billion in 2025 Investments

The consultation brought together representatives from The Bahamas, Barbados, Guyana, Jamaica, Suriname, and Trinidad and Tobago to discuss key investment priorities and regional development challenges.

The Inter-American Development Bank (IDB) convened its XIII Annual Consultation with the governors of Caribbean member countries on February 2-3 in Nassau, The Bahamas. This high-level gathering served as a strategic platform to discuss regional economic growth, resilience-building, and the IDB’s ongoing support for Caribbean nations ahead of the IDB and IDB Invest Annual Meetings in Chile (March 26-30, 2025).

The consultation brought together representatives from The Bahamas, Barbados, Guyana, Jamaica, Suriname, and Trinidad and Tobago to discuss key investment priorities and regional development challenges.

IDB President Ilan Goldfajn emphasized the bank’s long-standing partnership with the Caribbean and its commitment to regional development:

“The IDB has been a steadfast partner for the Caribbean for over half a century. Our consultations with Caribbean governors ahead of our Annual Meetings in Chile provided an opportunity to discuss how regional initiatives like ONE Caribbean can boost growth and resilience. Additionally, our IDBImpact+ reforms aim to scale up our impact, ensuring that our member countries receive greater financial and technical support.”

IDBImpact+ and ONE Caribbean: Strengthening the Region’s Future

IDBImpact+: Expanding Development Financing & Support

During the consultation, the IDB’s executive team provided updates on IDBImpact+, an ambitious reform agenda aimed at expanding the IDB’s lending capacity while focusing on:

• Poverty reduction
• Climate change mitigation and adaptation
• Sustainable economic growth

IDBImpact+ includes eleven key reforms, which will be presented at the upcoming Annual Meetings in Santiago, Chile. These reforms will increase funding and technical assistance for Caribbean nations.

ONE Caribbean: Regional Integration for Resilience

The ONE Caribbean initiative, launched in 2024, was a major topic of discussion. This regional framework addresses four critical challenges identified by Caribbean nations:

1. Climate resilience
2. Citizen security
3. Productivity growth
4. Food security

To date, six early initiatives have been rolled out under ONE Caribbean, including:

• ONE Safe Caribbean, designed to combat cross-border organized crime.
• Cybersecurity assistance programs, helping governments strengthen their digital defenses against cyber threats.

New IDB Agreement with The Bahamas for Water & Sanitation

During the consultation, the IDB and the government of The Bahamas signed an agreement to launch a major water and sanitation project, reinforcing the bank’s commitment to critical infrastructure development in the region.

IDB’s 2024 Investments & 2025 Regional Commitments

In 2024, the IDB approved $790 million in funding for Caribbean-focused projects, including:

• A debt-for-marine conservation swap in The Bahamas.
• A $125 million debt-for-climate resilience operation in Barbados.
• A $120 million private sector energy transition initiative, helping Caribbean companies advance renewable energy solutions.

For 2025, the IDB has increased its regional portfolio to over $1.1 billion, with investments targeted at:

• Infrastructure resilience (hurricane-proof roads, climate-adaptive urban planning).
• Skills training and workforce development.
• Public sector modernization and digital transformation.

Looking Ahead: IDB's Commitment to Caribbean Prosperity

The XIII Annual Consultation reinforced the IDB’s role as a key development partner for the Caribbean, providing financial resources, technical expertise, and policy guidance. The discussions laid the groundwork for greater regional cooperation and strategic investments, ensuring that Caribbean nations achieve sustainable growth, strengthen climate resilience, and improve living standards.

The IDB and IDB Invest Annual Meetings in Chile (March 26-30, 2025) will further define regional priorities, introduce new financing mechanisms, and showcase how the IDB’s evolving strategies will shape the future of the Caribbean.