The CARICOM (Carib-bean Community) Development Fund (CDF) has partnered with the United States to launch a fund to promote resilience in small and medium enterprises and critical infrastructure projects. A CARICOM release yesterday said that the fund, which will be known as the CARICOM Resilience Fund was officially launched in Barbados, on January 26, 2024. It explained that the new US$100 million blended finance vehicle, with technical assistance provided by the US Agency for International Development/Eastern and Southern Caribbean, is dedicated to supporting initiatives that will enhance growth and resilience across the region in the face of climate change.The CARICOM Development Fund (CDF) was established in 2008 and is a key developmental mechanism in the architecture of the CARICOM Single Market and Eco-nomy (CSME). It is committed to achieving its vision to lead in providing effective, efficient and sustainable solutions that address the challenges faced by disadvantaged countries, regions and sectors participating in the CSME.Further, the Fund will make investments in resilience-focused small and medium enterprises (SMEs) and critical infrastructure projects through flexible debt and equity investments targeting six key sectors: renewable energy, clean transport, blue economy, sustainable agriculture, information and communications technology, and financial services.According to the release, the CARICOM Resilience Fund has been under design and development since January 2023, with support from United States Agency for International Development/Eastern and Southern Caribbean. This partnership is testimony to the commitment of both the CDF and the United States to creating a more “prosperous, resilient, and sustainable future” for the Caribbean region.
