BRASILIA, Brazil, The Inter-American Development Bank (IDB) has announced new measures to support the region through development and integration.
The Washington-based financial institution stated that one of its key initiatives is the establishment of a multi-donor fund for the ONE Caribbean program, a platform for collective action focused on climate resilience, disaster risk management, citizen security, private sector development, and food security.
To date, the IDB said it has launched 11 regional initiatives, in addition to ONE SAFE Caribbean and a coordination mechanism for project preparation.
“The IDB is fully committed to the development of Caribbean countries,” IDB President Ilan Goldfajn said, adding, “Together with leaders from the region and Brazil, the IDB is working to strengthen resilience and security and generate opportunities throughout the region.
“In this regard, within the framework of our ONE Caribbean program, the IDB is ready to contribute, including with a new fund, by promoting integration by offering regional initiatives as well as providing resources and support to Haiti,” he said.
The IDB said it is providing US$283 million in grants for projects such as school meals, hospital renovations, and basic infrastructure.
The international financial institution stated that it will also finance projects with the private sector as part of the 2025-2030 Recovery Plan for Haiti, a comprehensive program aimed at promoting economic opportunities in areas outside of Port-au-Prince, the capital.
The IDB stated that it is leading the preparation of this plan at the request of Haitian authorities and in close collaboration with the United Nations, the European Union, and the World Bank.
At the request of CARICOM Chair and Barbados Prime Minister Mia Mottley, the IDB stated that it is leading the coordination with other multilateral institutions for a first-of-its-kind regional, standardized debt-for-resilience multi-country swap program.
“This initiative will unlock fiscal space, strengthen resilience, and channel savings into regional public goods. This new framework would help bring scale, transparency, and efficiency – crucial for small states that face high costs in such transactions,” the IDB added.
It said it is launching the Caribbean Multi-Donor Trust Fund, an IDB platform for collective action focused on resilience, citizen security, private sector development, and food security.
The fund was established under the ONE Caribbean program, with initial contributions of approximately $13 million from Canada and the United Kingdom, according to the IDB, which invited other countries and institutions to participate in the initiative.
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