WASHINGTON — Following Hurricane Melissa and at the request of Jamaican Prime Minister Andrew Holness, CAF – Development Bank of Latin America and the Caribbean, the Caribbean Development Bank (CDB), the Inter-American Development Bank Group (IDB Group), the International Monetary Fund (IMF), and the World Bank Group (WBG) have jointly assembled a comprehensive package of up to $6.7 billion over three years to strengthen Jamaica’s recovery and reconstruction efforts. This coordinated effort reflects a unified commitment to help Jamaica pursue a fiscally responsible, long-term recovery through
WASHINGTON — The Board of Executive Directors of the Inter-American Development Bank (IDB) approved a loan of up to US$70 million to advance Jamaica’s ongoing public-sector transformation program. The initiative aims to make public administration more efficient and effective, improving services for both citizens and public servants. The program, financed by the IDB, will enhance the management of human, financial, and organizational resources by strengthening core government functions, streamlining institutional structures, and modernizing civil service systems. Financing will support measures
MONTEGO BAY, Jamaica — In the wake of Hurricane Melissa, Inter-American Development Bank Group (IDB Group) President Ilan Goldfajn joined Caribbean heads of state in a visit to Jamaica's devastated areas to offer solidarity and support in the country's urgent response and recovery efforts. Jamaica’s preparedness — including disaster-risk financing through the IDB’s Contingent Credit Facility (CCF) — will help limit the immediate fallout. Recovery planning is now underway, focusing on key priorities and strengthening resilience. The IDB Group is supporting this effort not only with financing
WASHINGTON — The World Bank, in coordination with the Inter-American Development Bank (IDB), estimate that the physical damage to Jamaica caused by Hurricane Melissa totals US$8.8 billion — equivalent to 41% of the country’s 2024 GDP— making it the costliest hurricane in Jamaica’s recorded history. The Global Rapid Damage Estimation (GRADE), conducted immediately after the hurricane, assessed physical damage across residential, non-residential, infrastructure, and agricultural sectors. It does not include broader economic losses, which are expected to be even more significant. The GRADE
WASHINGTON — The Inter-American Development Bank (IDB) expanded its Emergency Credit Line for Jamaica and stands ready to support the country in its emergency response to Hurricane Melissa. The Bank is ready to provide, upon government request, up to US$300 million in fast-disbursing resources to support humanitarian assistance, restore essential services for the population, and back other emergency measures being implemented. These funds are part of the IDB Contingent Credit Facility (CCF) originally approved in 2018 to help the country respond to natural disasters and other emergencies. This
WASHINGTON — Innovative financing solutions and public-private partnerships (PPPs) are key to unlocking the Caribbean’s development, according to a new report by the Inter-American Development Bank (IDB). Investment in smart, resilient, well-executed infrastructure projects will both help insulate the region from global economic shocks, as well as drive faster and more inclusive growth. The report, “Catalyzing Capital: Public-Private Partnerships for Resilient Growth,” provides a comprehensive analysis of the region’s infrastructure investment needs, the enabling environment for public-private
WASHINGTON — The Inter-American Development Bank (IDB) approved a US$6.5 million loan to help Jamaica strengthen its cybersecurity capabilities, benefiting more than 2.8 million people by improving the resilience of public institutions and critical infrastructure against cyber threats. The operation, which includes US$3.5 million in counterpart funding, for a total of US$10 million, will support the country’s efforts to modernize cybersecurity governance, enhance incident response capabilities, and expand its pool of specialized professionals. Cyberattacks in Jamaica have increased
Five entrepreneurs will present their solutions on December 2 at GET Forum, the IDB Group’s flagship event on innovation and technology for development. WASHINGTON – IDB Lab, the innovation and venture capital arm of the Inter-American Development Bank Group (IDB Group), has announced the five women-led businesses that have won the WeXchange Women STEMpreneurs 2025 competition. WeXchange, a platform connecting women entrepreneurs in STEM (science, technology, engineering, and mathematics), received more than 400 entries from 35 countries, offering solutions in edtech, healthtech, fintech
BRASILIA – As part of the Brazil-Caribbean Summit, with the participation of Caribbean Community (CARICOM) nations, the Inter-American Development Bank (IDB) today announced new measures to support the region through development and integration. In the IDB's view, the joint efforts of Brazil and CARICOM prove that regional integration works. One of the IDB's most important initiatives is the creation of a multi-donor fund for the ONE Caribbean program, a platform for collective action focused on climate resilience and disaster-risk management, citizen security, private-sector development, and