The Caribbean Development Bank (CDB) has secured a record-breaking US$460 million for the 11th cycle of its Special Development Fund (SDF), the largest replenishment in the fund’s history. This allocation represents a US$77 million increase from the previous cycle.
Announcing the milestone at the bank’s annual news conference on Wednesday, CDB President Daniel Best said the funding will play a critical role in poverty alleviation, climate resilience, disaster risk management, and economic development across the region from 2025 to 2028.
At least 35 per cent of the resources will go toward climate financing, supporting adaptation and mitigation projects, post-disaster interventions, and biodiversity conservation.
The fund will also focus on strengthening private sector development, education, and social protection systems.
Best further noted that Haiti, given its unique challenges, will receive increased support.
He also shared that since its inception in 1984, the SDF has injected over US$2.1 billion into social development initiatives, improving education, infrastructure, and access to essential services across the Caribbean. (SM)
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