The Caribbean Development Bank (CDB, the Bank) and its partners are ramping up efforts to strengthen procurement capacity across the region. Public procurement is being enhanced through ongoing sectoral engagement and most recently, the successful staging of a five-day procurement fair in Belize, which was led by CDB. The event was aimed at unlocking greater economic opportunities for the public and private sectors through improved engagement in public procurement.

Hosted in collaboration with the Ministry of Economic Transformation (Belize), the Central American Bank for Economic Integration (CABEI), the Inter-American Development Bank (IDB), and the World Bank, the event ran from June 30 to July 4. It brought together public officers, business owners, and entrepreneurs to increase awareness and build technical knowledge of procurement laws, standards, and best practices.

The initiative is part of CDB’s broader strategy to boost private sector participation in development projects across its Borrowing Member Countries (BMCs) and to enhance the implementation capacity of public institutions. The Bank has committed to conducting a series of sector-focused engagement events and procurement fairs throughout the Caribbean.

“An estimated USD 11 billion is spent on public procurement annually in the Caribbean,” noted Doug Fraser, Head of Procurement at CDB. “This provides significant contracting opportunities for the Region’s private sector and helps drive economic growth. It is essential to ensure that potential suppliers, contractors, and consultants are aware of our contract opportunities and suitably positioned to bid for them; given that the resulting competition drives innovation and ultimately improves value-for-money for recipients of CDB financing.”

Most contracts awarded under CDB financing are secured by companies and individuals within the region. Even in the case of large or complex contracts, foreign contractors often rely heavily on subcontractors and consultants from BMCs, which underscores the importance of building local procurement capacity. The Bank has responded directly to calls from the private sector for greater support in navigating its bidding and proposal preparation processes.

At the opening ceremony of the Belize fair, Naomi Akoy-Bougenon, Operations Officer at CDB, highlighted the transformative vision that underpins the Bank’s approach to procurement.

“CDB and its partners are pushing the boundaries of what procurement can look like in our region… Without our suppliers, contractors, and consultants, we couldn’t do what we do,” she said. “Your ideas, energy, and innovation are key drivers of growth and poverty reduction—and we’re proud to keep working alongside you to build a better future.”

She further stressed the need for increased resourcing and capacity in the system:

“The public sector urgently needs more skilled professionals—procurement officers and evaluators who understand both the rules and the responsibilities that come with their roles. At the same time, the private sector deserves a level playing field: one where missteps in documentation or unclear feedback don’t cut them out of the game before they’ve even begun. It’s time to shift that story.”

The Bank is also working to ensure that public procurement becomes a tool for social inclusion, particularly by creating access for women, youth, and persons with disabilities, recognising the role inclusive procurement can play in driving equitable development.