Bahamas, Dominica and Grenada to join Development Bank of Latin America and the Caribbean (CAF)

Excerpt and Photo from caf.com

The Board of Directors of CAF met in Punta Cana, Dominican Republic, and authorized the allocation of its shares to facilitate the entry of new Caribbean countries through the incorporation of Bahamas, Dominica, Grenada as Series “C” members. This will allow these countries to access the technical, financial and knowledge services offered by the bank to its member countries to improve the quality of life of citizens.

“Our positioning in the Caribbean will give a new dimension to an organization that was created by six Andean countries (Bolivia, Chile, Colombia, Ecuador, Peru and Venezuela), which now fifty-six years later, has 21 shareholder countries and is one of the main sources of multilateral financing in the region. This expansion of CAF in the Caribbean will lead us to become the development bank with the widest coverage in Latin America and the Caribbean,” said Sergio Díaz-Granados, Executive President of CAF.

CAF took an important step 18 months ago to establish its Regional Office for the Caribbean, based in Trinidad and Tobago, with the aim of consolidating its development assistance to the Caribbean, particularly in support of climate action, water, energy, and food security, sustainable tourism, modernization of infrastructure and digital transformation, among other sectors. Shortly after, CAF integrated the Caribbean into its official trademark and logo, which is now the Development Bank of Latin America and the Caribbean.