In a historic move, the Caribbean Development Bank (CDB) and the OPEC Fund for International Development have inked a groundbreaking Memorandum of Understanding (MOU) to bolster cooperation and expedite sustainable development across the Caribbean region. The agreement, signed during the International Monetary Fund-World Bank Annual Meetings in Washington, DC, outlines a comprehensive framework for collaboration in critical sectors including climate resilience, renewable energy, food security, infrastructure development, and youth empowerment. This partnership aims to facilitate joint financing initiatives, technical assistance, and knowledge sharing, enabling Borrowing Member Countries (BMCs) to access innovative resources and solutions. CDB President Daniel Best hailed the MOU as a transformative step toward reshaping the region’s development trajectory. He emphasized that strategic alliances between multilateral development banks are essential for addressing global challenges and advancing the Sustainable Development Goals (SDGs). The collaboration will focus on project preparation, regional dialogues, and capacity building, with priority areas such as climate-smart agriculture, water security, digital connectivity, and private sector expansion. Best highlighted the unique synergy between CDB’s regional expertise and the OPEC Fund’s global reach, which he said would unlock unprecedented opportunities for Caribbean nations. The partnership will also support youth empowerment, technical and vocational training, and innovative financing mechanisms like debt-for-sustainability swaps and blue economy projects, further cementing the Caribbean’s role as a leader in climate resilience and sustainable development.
分类: business
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Bank accounts important for “next phase” of wealth transfer- Ali
The Guyana government, under the leadership of President Irfaan Ali, is intensifying efforts to encourage citizens to open bank accounts as a critical step in the nation’s wealth transfer strategy. Speaking at a reception hosted by the Canada Guyana Chamber of Commerce, President Ali emphasized the importance of integrating bank accounts with the new Electronic Identification Card (eID) system. This initiative aims to streamline government services, reduce bureaucratic inefficiencies, and enhance transparency. President Ali clarified that the rollout of the eID card is not directly tied to the disbursement of upcoming cash grants, which he had previously hinted at during the 2025 election campaign. Vice President Bharrat Jagdeo reaffirmed the President’s commitment to fulfilling these promises. To facilitate this transition, the government and banking sector have simplified the criteria for opening personal, small business, and corporate accounts, eliminating previously burdensome requirements. The overarching goal is to ensure every Guyanese citizen has access to a bank account, paving the way for a more efficient and transparent financial system.
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Sagicor increases fee for ABM withdrawal from other banks
KINGSTON, Jamaica — Sagicor Bank has announced a significant change in its fee structure for automated banking machine (ABM) withdrawals, effective Monday, October 20. The fee for withdrawals from other local banks will rise from $59.23 to $61.53. This adjustment impacts Sagicor customers who utilize ABMs at other local banking institutions through the multilink network. The bank attributes this increase to recent adjustments made by JETS Limited, the operator of the Multilink network. Additionally, earlier in October, Sagicor reduced the maximum cash retrieval limit per transaction from $100,000 to $50,000. However, the daily withdrawal cap remains unchanged at $100,000. These changes are expected to influence customer behavior and banking practices in the region.







