The CARICOM Development Fund (CDF) and the African Export-Import Bank (Afreximbank) have signed a Memorandum of Understanding to provide a framework for cooperation between the two organizations and assist with delivering services to the CARICOM Member States.
The CDF is the regional entity with responsibility to reduce the disparities among and within CARICOM Member States that are caused or worsened by economic shocks or dislocation that might result from implementing the CARICOM Single Market and Economy (CSME).
Through the MoU, the CDF and Afreximbank have pledged to work together and explore the best possible funding options from debt and equity capital markets to support the development of critical infrastructure projects in the CARICOM region.
The MoU is a clear indication of the collective effort of both organizations to increase financing opportunities for CARICOM Member States and strengthen south-south cooperation between the African continent and the Caribbean region.
