Barbados moved legislation on Tuesday to join the Development Bank of Latin America and the Caribbean (CAF), which will make the island the smallest full member.
This will now allow the island access to US$18 billion in loan financing for government, businesses, and individuals.
The Finance Minister moved the legislation yesterday and upgrades the island from Series C to Series A status.
This change enhances Barbados’ influence in the bank and qualifies it for more funding, including for climate-related initiatives.
