CDB approves US$232,000 to strengthen Caribbean development finance institutions
Key Points(5)
- The funding, approved under the bank's Special Development Fund (SDF) 11 program, will support four specialized training programs and the rollout of a web-based SME credit scoring and risk rating platform for participating institutions across the Caribbean.
- According to the CDB, the initiative is designed to strengthen financial institutions that play a key role in supporting private sector development and improving access to financing for businesses that drive economic growth and resilience.
- Participating Development Finance Institutions will receive training in SME credit risk management, financing for agriculture and renewable energy, environmental, social and governance standards, and climate and sustainability finance instruments.
- They will also gain access to the SME eSMART digital credit assessment platform, which is intended to improve the efficiency and consistency of evaluating SME loan applications.
- CDB Vice President of Operations Dr.
The Barbados-based Caribbean Development Bank has approved US$232,000 in grant funding to strengthen the capacity of Development Finance Institutions across its borrowing member countries, with a focus on expanding financing for small and medium-sized enterprises, climate resilience and renewable energy projects.
The funding, approved under the bank's Special Development Fund (SDF) 11 program, will support four specialized training programs and the rollout of a web-based SME credit scoring and risk rating platform for participating institutions across the Caribbean.
According to the CDB, the initiative is designed to strengthen financial institutions that play a key role in supporting private sector development and improving access to financing for businesses that drive economic growth and resilience.
Participating Development Finance Institutions will receive training in SME credit risk management, financing for agriculture and renewable energy, environmental, social and governance standards, and climate and sustainability finance instruments.
They will also gain access to the SME eSMART digital credit assessment platform, which is intended to improve the efficiency and consistency of evaluating SME loan applications.
CDB Vice President of Operations Dr. Isaac Solomon said building stronger financial institutions is essential to ensuring development financing reaches businesses with the greatest impact.
"Strong institutions are essential to ensuring that finance reaches the businesses and sectors that will have the greatest development impact," Solomon said.
"This initiative will equip Development Finance Institutions with the technical expertise and digital tools needed to strengthen lending decisions, support innovation, and expand financing for enterprises that contribute to resilient and inclusive growth across the Caribbean."
The CDB said Development Finance Institutions help address financing gaps faced by SMEs, particularly in sectors underserved by commercial banks. The initiative is expected to improve participating institutions' ability to assess credit risk, structure financing for climate and renewable energy investments, integrate environmental, social and governance considerations into lending, and mobilize financing for sustainable development.
The project will be delivered in partnership with Caribbean Information and Credit Rating Services Limited (CariCRIS), using regional expertise and internationally recognized training providers.
"The Caribbean's economic transformation will be driven by entrepreneurs, but enabled by strong institutions," said Lisa Harding, the CDB's division chief for the private sector.
"Development Finance Institutions play a pivotal role in unlocking investment for businesses that generate jobs, foster innovation, and build resilience. By strengthening their capacity, CDB is helping to create a more dynamic, inclusive, and sustainable private sector across the region."
The program is expected to benefit at least 11 Development Finance Institutions and provide training to more than 300 professionals through a series of online courses.
The CDB said the initiative aligns with its Strategic Plan 2026-2035, which prioritizes institutional strengthening, climate action, digital transformation, and economic and environmental resilience across the Caribbean.
