Bridgetown, Barbados – September 3, 2025 — The Caribbean Development Bank (CDB) has issued a powerful call for Caribbean nations to abandon fragmented solutions and embrace unified, integrated strategies to confront the escalating “web of risks” threatening the region’s sustainable development.
Speaking at the 2nd Wider Caribbean Regional Risk Conference in St. Philip, Barbados, CDB President Daniel M. Best warned that the intersection of climate change, economic instability, and social inequality is pushing the Caribbean into deeper vulnerability. “Fragmented responses are no longer viable. We cannot afford to respond to interconnected crises with disconnected strategies,” Best declared.
He outlined a bold vision for regional resilience, urging governments to align climate, economic, and social policies so that national budgets embed disaster risk reduction, climate resilience, and social protection. Best emphasized the importance of breaking down institutional silos, calling on ministries of finance, education, health, and environment to work collectively in proactive planning and policy design.
The CDB President highlighted the critical role of data and technology, advocating for greater investment in geospatial systems to map overlapping vulnerabilities and guide resource allocation. He also stressed the need to integrate indigenous knowledge and community-driven insights into decision-making, while calling for innovative financing models, such as green bonds and resilience-linked instruments, to attract private sector investment without compromising equity and justice.
Mr. Best reaffirmed the CDB’s commitment to supporting Borrowing Member Countries, revealing that 35% of all CDB approvals over the next five years will target climate finance, with an even higher 40% allocation within the Bank’s USD 460 million Special Development Fund. Leveraging its expanded Green Climate Fund accreditation, the CDB can now finance projects up to USD 250 million to accelerate climate action and energy transition initiatives.
On economic resilience, the Bank is unlocking access to finance for MSMEs, women-led businesses, and export-driven sectors under its new Private Sector Development Strategy, while promoting digital trade solutions like Barbados’ electronic Port Community System to streamline commerce and enhance competitiveness. The Bank is also advancing social inclusion through initiatives like the Caribbean GEMS Project and the Basic Needs Trust Fund, combining data-driven poverty assessments with grassroots participation to better target social protection and gender equality.
Pledging to stand “shoulder to shoulder” with Caribbean nations, Best positioned the CDB as a “partner in transformation,” committed to driving a pathway toward a more resilient, sustainable, and future-proofed Caribbean.
The two-day conference, co-hosted by CCRIF SPC and CAF – Development Bank of Latin America and the Caribbean, has brought together governments, development partners, private sector leaders, and civil society to devise integrated strategies to strengthen resilience and safeguard the region’s future.
