In a landmark announcement at the 50th CARICOM Heads of Government Conference in Basseterre, African Export-Import Bank (Afreximbank) Executive Vice President Dr. Denys Denya unveiled a substantial expansion of the bank’s Caribbean engagement strategy. The pan-African multilateral institution has elevated its regional financing commitment from $3 billion to $5 billion for implementation over the next three to four years, signaling a profound deepening of Africa-Caribbean economic cooperation.
This enhanced financial framework builds upon existing disbursements exceeding $750 million across the region and an active pipeline surpassing $2 billion in currently executing transactions. Dr. Denya articulated the bank’s visionary objective to fundamentally transform economic structures through strategic investments in value-added processing of agricultural outputs and natural resources. The comprehensive strategy aims to retain significant economic value within regional economies, generate sustainable wealth creation, stimulate employment opportunities, and enhance livelihoods while producing positive spillover effects on government revenues and investment landscapes.
The bank’s multidimensional intervention strategy encompasses healthcare facility development in Barbados, Guyana, and Grenada; tourism sector enhancement across Barbados, Grenada, Bahamas, and Antigua and Barbuda; agro-processing projects and logistics infrastructure in Barbados, Guyana, Antigua and Barbuda, and St. Kitts and Nevis; plus critical infrastructure development including power generation, distribution systems, road networks, conferencing facilities, and trade centers throughout Grenada, Jamaica, Bahamas, and Suriname.
Additional strategic initiatives include specialized financing support for banking institutions in Suriname, St. Lucia, Grenada, and Dominica—featuring SME-focused lending facilities for regional development banks; local content promotion programs in resource-rich nations to maximize value retention through entrepreneurial empowerment; development of sea and air connectivity frameworks to enhance intra-Caribbean movement of goods, services, and investments; and expansion of the Creative Africa Nexus Programme to foster cultural and creative industry development through financing, capacity building, and trade facilitation between African and Caribbean creative sectors.
Following high-level discussions with Eastern Caribbean Central Bank leadership, Afreximbank has committed to supporting implementation of regional development strategies targeting economic doubling within a decade. This collaboration will encompass investments in infrastructure development, power generation and distribution systems, agricultural production, and processing capabilities. The bank is already facilitating African corporate expansion into the region through partnerships with entities including Access Bank, Oando, and Arise Integrated Industrial Platforms, with the latter exploring special economic zone establishment in multiple Caribbean nations.
Dr. Denya reaffirmed commitment to developing the Afreximbank African Trade Centre in Bridgetown, Barbados, to consolidate institutional presence while advancing establishment of the Caribbean Eximbank as a transformative investment vehicle. The bank welcomed CARICOM Central Bank Governors’ decision to proceed with the CARICOM Payment and Settlement System—modeled after Afreximbank’s pioneering PAPSS system launched in 2022—which will establish a low-cost, real-time cross-border payment system utilizing local currencies to dramatically enhance regional trade integration.
The conference, conducted under the theme “Beyond Words: Action Today for a Thriving, Sustainable CARICOM” from February 24-27, featured addresses by regional leaders, Commonwealth Secretary-General Dr. Carla Barnett, and Saudi Arabian Minister of State for Foreign Affairs Mr. Adel al-Jubeir. St. Kitts and Nevis is scheduled to host the fifth Africa-Caribbean Trade and Investment Forum (ACTIF2026) in July 2026, featuring panel discussions, business matchmaking sessions, cultural showcases, and significant agreement signings.









