IDB Creates Fund to Strengthen Caribbean Integration, Provides R$1.6 billion to Haiti in Grants, and Prepares an Unprecedented Multi-Country Debt Exchange

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 food security. To date, the IDB has launched 11 regional initiatives, in addition to ONE SAFE Caribbean and a coordination mechanism for project preparation. 

“The IDB is fully committed to the development of Caribbean countries. Together with leaders from the region and Brazil, the IDB is working to strengthen resilience and security and generate opportunities throughout the region. In this regard, within the framework of our ONE Caribbean program, the IDB is ready to contribute, including with a new fund, by promoting integration by offering regional initiatives as well as providing resources and support to Haiti,” IDB President Ilan Goldfajn said.  

The main IDB announcements at the Summit, which brought together heads of state and government leaders at the Itamaraty Palace in Brasilia, are as follows: 

1. Haiti: The IDB is providing R$1.6 billion ($283 million) in grants for projects such as school meals, hospital renovations, and basic infrastructure. The IDB will also finance projects with the private sector as part of the 2025-2030 Recovery Plan for Haiti, a broad program to promote economic opportunities in areas outside of Port-au-Prince. The IDB is leading the preparation of this plan at the request of Haitian authorities and in close collaboration with the UN, the European Union, and the World Bank. 

2. Multi-Country Debt Swap: At the request of CARICOM Chair and Barbados Prime Minister Mia Mottley, the IDB is leading the coordination with other multilateral institutions for a first-of-its-kind regional standardized debt-for-resilience multi-country swap program. This initiative will unlock fiscal space, strengthen resilience, and channel savings into regional public goods. This new framework would help bring scale, transparency, and efficiency – crucial for small states that face high costs in such transactions.  

3. Caribbean Multi-Donor Fund: The IDB is launching the Caribbean Multi-Donor Trust Fund, an IDB platform for collective action focused on resilience, citizen security, private sector development, and food security. The fund was created under the ONE Caribbean program with initial contributions of approximately $13 million from Canada and the United Kingdom. The IDB invites other countries and institutions to participate in the initiative, including Brazil.