Markets

Caribbean Joint Action Plan Commits $960 Million in First Year

By: Caribbean Journal Staff - May 27, 2011

The European Investment Bank

By the Caribbean Journal staff

The Caribbean Joint Action Plan, a collaboration between six leading development banks aimed at bringing the Caribbean out of the downturn, has totaled more than $960 million in commitments to private and public sector projects in the region in its first year. That number represents more than 100 percent of what had been pledged for the next three years. “In only a year, the Caribbean Joint Action Plan has demonstrated the clear value of enhanced cooperation between development finance institutions to support projects essential for economic growth across the Caribbean and our engagement in the region has surpassed targets,” said Warren Smith, the president of the Caribbean Development Bank, in a statement. The six institutions that form the initiative are the Caribbean Development Bank, German bank DEG, the European Investment Bank, the Netherlands Development Finance Company, the International Finance Corporation and PROPARCO.

Popular Posts

The 10 Best Overwater Bungalows in the Caribbean, From Aruba to Belize

Overwater villas at Caribbean resorts aren’t just a novelty — they’re also among the most luxurious and beautiful accommodations you can stay in. And while all of the bungalows perched above the waves have their charms, some stand out among […]


The 10 Best Luxury All-Inclusive Resorts in the Caribbean, From Antigua to Jamaica

all-inclusive hammock cove

All-inclusive resorts are more popular than ever, particularly in the Caribbean. The all-inclusive concept just keeps winning over travelers, who have been drawn to the ease, comfort and convenience of the concept. But the biggest thing within the space isn’t […]


The Bahamas’ Atlantis Paradise Island Just Completed a $150M Renovation

walking on the beach in nassau

A new eatery by Michelin-star Chef Michael White. A new-look casino. State-of-the-art guest rooms and the Caribbean’s first Shake Shack.  The Bahamas’ Atlantis Paradise Island resort has officially completed a $150 million resort-wide renovation, a significant project that included a […]


Related Posts

Standard & Poor's Downgrades Caribbean Development Bank, Outlook "Stable"

Above: the bank, which had another ratings firm downgrade its credit, is based in Bridgetown (CJ Photo) By the Caribbean Journal staff Standard & Poor’s has lowered its long-term issuer credit rating on the Caribbean Development Bank from AAA to […]


Jamaica's Budget Targets Northern Coast

Above: Negril By the Caribbean Journal staff Jamaica’s government has set aside just under $26 million (J$2.25 billion) for a group of projects aimed at improving the infrastructure on the country’s northern coast. The allocation will be executed through the […]


EU to Fund Study on Geothermal Link from Dominica to French Islands

By the Caribbean Journal staff The European Investment Bank has agreed to provide a 1.1 million Euro grant to enhance planning and study the feasibility of exporting geothermal electricity from Dominica to Martinique and Guadeloupe. The bank, which is the […]


SUBSCRIBE!

Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.


No. Thank You