The Caribbean Development Bank (CDB) has 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 approval came during the 313th Meeting of the Bank’s Board of Directors, which also endorsed a US$126,000 grant as part of the Fourth Agricultural and Industrial Line of Credit for Development Finance Limited (DFL) in the Republic of Trinidad and Tobago. The initiative aims not only to improve access to finance for SMEs but also to strengthen institutional capacity and promote sustainable and inclusive economic growth in the country.
The line of credit will be on-lent by 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 fund 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. These interventions are designed to 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 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 as Trinidad and Tobago continues efforts to diversify its economy beyond the energy sector. With moderate economic growth and increasing demand for credit in non-energy sectors, the project is expected to play a catalytic role in enabling private sector development and fostering resilience.
DFL, noted for strong financial performance and governance, will oversee project execution, while CDB will provide ongoing monitoring and evaluation. The initiative is expected to benefit women-owned businesses and enterprises engaged in green and sustainable projects, aligning with the Bank’s strategic priorities in private sector development, climate resilience, and inclusive growth.
Through this intervention, CDB continues to support its Borrowing Member Countries in building resilient economies, strengthening financial systems, and improving livelihoods across the Caribbean.
