BRIDGETOWN, Barbados, CMC – The Barbados-based Caribbean Development Bank (CDB) Tuesday said it had approved a US$10-million line of credit to expand access to finance for small and medium-sized enterprises (SMEs) in Trinidad and Tobago.
The region’s premier financial institution said that it had the Fourth Agricultural and Industrial Line of Credit for Development Finance Limited (DFL) in Trinidad and Tobago, a financing package comprising a US$10 million loan from CDB’s Ordinary Capital Resources and a grant of US$126,000.
It said that, beyond facilitating access to finance for SMEs, the initiative also aims to strengthen institutional capacity and promote sustainable, inclusive economic growth in the country.
The line of credit will be on-lent by the DFL to SMEs operating in key productive sectors, including agriculture, manufacturing, tourism, and energy efficiency. By addressing persistent financing gaps, the project is expected to enhance business competitiveness, support market expansion, and generate employment.
In addition to financing, the grant component will support capacity building within DFL, including training in Environmental and Social Management Systems and the development and implementation of a Gender Equality Policy and Action Plan.
The CDB said that these interventions will strengthen DFL’s ability to manage environmental, social, and climate-related risks while advancing gender-responsive lending.
“Through this fourth line of credit, we are deepening our support to SMEs as key drivers of innovation, job creation, and economic diversification in Trinidad and Tobago,” said Lisa Harding, Division Chief, Private Sector Division at the CDB.
“This project directly aligns with the Bank’s new 10-Year Strategic Plan by strengthening private sector development, advancing climate resilience, and promoting inclusive growth – particularly by empowering women-owned businesses and supporting sustainable investments while also fostering strategic partnerships with development finance institutions.”
CDB’s support comes at a critical time as Trinidad and Tobago continues efforts to diversify its economy beyond the energy sector. With the country experiencing moderate economic growth and increasing demand for credit in non-energy sectors, the project will play a catalytic role in enabling private-sector development and fostering resilience.
The CDB said DFL has demonstrated strong financial performance and governance, with sustained growth in revenues, profits, and assets, alongside a track record of successfully implementing previous CDB-funded programs. The institution will be responsible for project execution, with CDB providing ongoing oversight through monitoring and evaluation.
The project also aligns with CDB’s strategic priorities, including private sector development, climate resilience, and inclusive growth. It is expected to particularly benefit women-owned businesses and enterprises engaged in green and sustainable initiatives.
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