ASUNCIÓN — Canada is expanding its support for resilience and business development in the Caribbean through its partnership with the Inter-American Development Bank Group (IDB Group).
The government of Canada’s previously announced commitment of 10 million Canadian dollars to the Technical Assistance Facility (TAF) of the Caribbean Community Resilience Fund (CCRF) through the IDB Group’s ONE Caribbean program was formalized through signature of the corresponding administrative arrangement in February.
The contribution will reinforce the ONE Caribbean Multi-Donor Trust Fund, the IDB Group’s main regional platform for advancing resilient development. ONE Caribbean addresses shared challenges, including resilience, disaster-risk management, citizen security, private-sector development, and food security, while strengthening institutions and promoting digital transformation.
Resources will finance technical assistance and help prepare resilient projects for small and medium-sized enterprises (SMEs), and investments across sectors such as sustainable energy, transport, sustainable agriculture, and blue economy industries. Announced at the 48th Regular Meeting of Heads of Government of the Caribbean Community (CARICOM), this contribution underlines Canada’s sustained commitment to practical, private-sector-led solutions across the region.
Additionally, Canada was the first donor to deposit its instrument of acceptance and contribution to IDB Lab, the innovation and venture arm of the IDB Group, providing US$2.2 million to support its recent replenishment. Through its contribution, Canada is also supporting Small and Island States in the Caribbean with nearly US$111,000 under IDB Lab’s Impact Enhancement Program – a flagship advisory initiative aimed at strengthening the social, resilient, and economic impact of its clients while embedding responsible digital transformation across their business models.
The IDB Group welcomes Canada’s continued leadership and partnership in building a safer and more sustainable future for the Caribbean.
About the IDB Group
The Inter-American Development Bank Group (IDB Group) is the leading source of financing and knowledge for improving lives in Latin America and the Caribbean. It comprises the IDB which works with the region’s public sector and enables the private sector; IDB Invest, which directly supports private companies and projects; and IDB Lab, which spurs entrepreneurial innovation.
De La Jara Donoso,Consuelo Andrea
Extlaffairs-Commun Consultant
Otsuka,Takako
Learning & Knowledge Sr Associate
