Barbados is on the verge of making history as the smallest nation to achieve full membership in the Development Bank of Latin America and the Caribbean (CAF). This milestone was announced by Ryan Straughn, Minister in the Ministry of Finance and Economic Affairs, during a parliamentary debate on the Development Bank of Latin America and the Caribbean Bill, 2025. Straughn emphasized that this move would significantly strengthen Barbados’ integration into the regional development finance framework. He compared the decision to joining a credit union, highlighting that it would grant Barbados enhanced access to CAF’s decision-making processes and funding mechanisms. Barbados initially joined CAF 14 years ago under the Democratic Labour Party (DLP) administration, which secured a US$200 million financing facility with a US$15 million subscription. However, the proposed legislative amendments aim to provide Barbados with more flexibility, especially in response to the evolving global financial landscape and the shifting policies of institutions like the World Bank, which has increasingly aligned with the current U.S. administration. Once finalized, this upgraded membership will not only bolster the government’s access to CAF financing but also create opportunities for private sector entities and individual Barbadians to benefit from the bank’s development programs and investment tools.