finance
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CARICOM SG continues advocacy for concessional financing for vulnerable states
CARICOM Secretary-General Ambassador Irwin LaRocque continues to champion the cause for vulnerable states to receive concessional financing due to issues related to climate change. The Secretary-General has been focusing on this matter in many of his recent engagements and was vocal about the issue at the Small States Forum that was recently held in Peru. The Forum was held under the theme ‘Opportunities…
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CARICOM considers debt relief proposal
KINGSTON, Jamaica (JIS) – Caricom is considering a proposal for the region to pursue gradual write-off of its multilateral debt as a means of economic prosperity. The debt relief strategy was put forward by the Economic Commission of Latin America and the Caribbean (ECLAC), at the 36th Regular Meeting of the Heads of Government of the Caribbean Community, held recently…
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Redefining banking models to sieze digital age opportunities
Customers across the Caribbean look longingly at innovations in the US and other markets, such as full-service online and mobile banking, marketplace lending facilities and merchant payment solutions. The open question is if, or when, similar facilities will become available locally. The competitive landscape in the Caribbean does not provide optimal incentive for fast-paced, customer-centric, banking services innovations. Instead, dreams…
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CDB & DFC Project to benefit MSMEs, Housing, Education Launched in Belize
[Barbados] The Caribbean Development Bank (CDB) is providing funding to the Development Finance Corporation of Belize (DFC) to: better support the productive sector, including small business; to assist students to access tertiary level and skills training programmes; and families to acquire or improve their own homes. Officially initiated today at the CDB-DFC project launch workshop in Belize City, the programme,…
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Financing for Development critical – CARICOM tells UN SG
Adequate financing is critical to our region’s sustainable development. Hence, we look forward to the July 2015 third International Conference on Financing for Development in Addis Ababa to deliver actionable commitments and a robust framework on development financing and means of implementation. While we are prepared to do our part, the United Nations system itself must lend its weight to…
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Caribbean MicroFinance Alliance works on promoting responsible lending
AS the Caribbiance (CMFA) prepares to make its presence felt on a regional basis, it is working to promote “responsible lending” according to chairman of the CMFA, Ramesh Persaud. The CMFA is an advocate for effective microfinance services in the Caribbean, and wants to make “the entire lending process more transparent, so that clients can be fully informed”, Persaud told…
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World Bank says growth in remittances to Caribbean will slow down in 2015
WASHINGTON D.C., United States, Friday April 17, 2015, CMC – The World Bank says remittances growth in the Caribbean is expected to slow in 2015. The Washington-based international financial institution said in its latest issue of its Migration and Development Brief that growth in global remittances, including those to developing countries, such as the Caribbean, will slow sharply this year due…
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Caribbean countries to benefit from EU funds
BRUSSELS, Mar 11, CMC – Caribbean countries are expected to benefit from funds being made available to the African Caribbean and Pacific (ACP) states under the 11th European Development Fund (EDF) that has now come into full force. The European Commission announced the full entry into force of the EDF, regarded as a cornerstone of the EU's international cooperation and…
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Regional finance ministers meeting in Bahamas
NASSAU, Bahamas, Feb 18, CMC – Caribbean finance ministers will meet here from Thursday for the Fourth Meeting of the Governors of the Caribbean Country Department of the Inter-American Development Bank (IDB). The two-day meeting will discuss a number of issues including proposals for the organisational structure and capitalisation of the IDB’s private sector agency, and long-term financial policies of…
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IDB to support Bahamas efforts to improve fiscal effectiveness
WASHINGTON, USA — The Inter-American Development Bank (IDB) has approved a $33 million loan for The Bahamas to improve the management of its public finances and procurement, and to enhance its capacity to monitor progress and implementation of key government priorities. The Bahamas’ tourist-based economy has been growing steadily in recent years but its public finances have suffered since…
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