In a significant move for regional economic development, the Federation of St. Kitts and Nevis has officially become a shareholder member of the Development Bank of Latin America and the Caribbean (CAF). This strategic accession, confirmed during CAF’s Board of Directors meeting in Panama City, positions the dual-island nation alongside Haiti as the latest Caribbean members to join the financial institution.
The incorporation enables St. Kitts and Nevis to access tailored development financing solutions specifically designed for small island developing states facing climate vulnerabilities. The membership provides the Federation with streamlined access to technical assistance programs, knowledge-sharing initiatives, and flexible funding mechanisms aligned with national development priorities.
CAF Executive President Sergio Díaz-Granados emphasized the institution’s regional commitment, stating: ‘Saint Kitts and Nevis and Haiti are joining a homegrown development bank established by the region for the region. CAF serves as more than a financial institution—it functions as a bridge enhancing connectivity between Latin America and the Caribbean.’
The Panama City meeting proved substantially productive, with CAF approving approximately $3.175 billion in new regional operations. These funds will support critical infrastructure projects including electricity grid modernization, water security enhancements, sustainable transportation systems, and financial assistance programs for vulnerable communities and small-to-medium enterprises.
This expansion triples CAF’s Caribbean shareholder representation compared to 2023 levels, following recent incorporations of Saint Lucia, The Bahamas, Antigua and Barbuda, and Grenada. The institution now counts six Caribbean shareholder nations, with additional countries progressing through membership procedures.
Concurrently, Barbados achieved compliance requirements to transition to full membership status, joining Trinidad and Tobago as the second CARICOM nation to attain complete CAF membership. This development signals strengthening regional integration and enhanced financial cooperation throughout the Caribbean basin.