BRIDGETOWN, Barbados: Caribbean countries stand to benefit from a joint Action Plan between Caribbean Development Bank (CDB) and the World Bank Group (WBG) that targets key development issues critical to regional resilience and growth. Central to the partnership are joint country portfolio reviews, harmonised approaches to reporting on jobs, and a regional connectivity and logistics study to identify and address the specific bottlenecks constraining intra-Caribbean trade and movement.

The two institutions moved the Action Plan from intent to delivery during their recent fourth annual collaboration event, held recently at CDB's campus in Barbados.  

Highlighting why the Plan is essential for regional progress, Dr. Isaac Solomon, Vice-President (Operations), Caribbean Development Bank, explained, “The Caribbean faces existential challenges that no single institution can resolve alone. Our Action Plan with the World Bank is a force multiplier. By aligning our strategies, pooling expertise, and co-ordinating financing, we can close delivery gaps to provide solutions that are faster, more efficient, and genuinely transformative for the people of this region.”

The Action Plan is designed to unlock greater co-financing opportunities, improve access to concessional resources, and strengthen the technical capacity of regional governments. These advancements are expected to translate directly into more resilient infrastructure, improved public services, and enhanced livelihoods for the people of the Caribbean. 

During their recent dialogue, both Banks acknowledged the unique vulnerabilities faced by Small Island Developing States and agreed to align their respective programmes more closely through the Action Plan to maximise impact while minimising duplication. They also reviewed existing partnerships, identified new areas of joint engagement, and shaped responses to needs expressed by Caribbean governments. Senior officials also determined practical systems for improving co-ordination, set specific targets and a developed semi-annual reporting calendar.

Speaking on the significance of better aligned collaboration between both Banks, Ms. Lilia Burunciuc, World Bank Director for the Caribbean, said, “The Caribbean has enormous potential, and our collaboration with CDB is central to how both organisations support the realisation of the region’s development goals. Together, we can help governments build more resilient economies, invest in their people, and seize greater opportunities. This partnership is a shared commitment to a more prosperous and sustainable region.”

CDB and WBG closed the meeting by agreeing to establish a joint working group to continue operationalising Action Plan deliverables. Follow-up engagements with regional governments, national implementing agencies, and other key stakeholders are planned in the coming months, with both Banks committed to translating shared ambition into tangible results for the people of the Caribbean.

The partnership is firmly anchored in CDB’s 10-Year Strategic Plan 2026–2035, ‘Transforming the Caribbean for Resilience’, which identifies deepening collaboration with multilateral partners such as the World Bank as central to delivering social, economic, and environmental resilience across the region.

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Photo caption: Ms. Lilia Burunciuc, World Bank Director for the Caribbean, and Dr. Isaac Solomon, Vice-President (Operations), Caribbean Development Bank, attend the recent fourth annual collaboration event for both institutions.