CDF and Afreximbank Advance Strategic Partnership with New Climate-Focused Finance Facility

The collaboration between the CARICOM Development Fund (CDF) and the African Export-Import Bank (Afreximbank) will be significantly advanced through the establishment of a new blended finance facility, the Green Growth, Resilience and Sustainability Facility (GRSF).

This formed a critical part of the discussion at an introductory meeting between the CEO of the CARICOM Development Fund (CDF), Mr Rodinald Soomer, and the newly appointed President and Chairman of the Board of Directors of Afreximbank, Dr George Elombi, held in Cairo, Egypt on Sunday 26 October, 2025. The discussion reaffirmed their strategic partnership.

The GRSF is currently being developed by the CARICOM Development Fund with advisory support from Afreximbank. The mandate of the GRSF is to finance high-impact public sector infrastructure projects that foster regional productivity and economic resilience while delivering direct and measurable climate benefits.

GRSF will be a CARICOM-focused development financing facility, sponsored by the CDF, to channel concessional resources into strategic public sector projects that help address the persistent infrastructure deficit in the Region and its high vulnerability to climate shocks. The GRSF will contribute to closing the infrastructure gap by enabling CDF member countries to identify, prepare, and deliver priority projects (resilient economic infrastructure, including for climate adaptation and mitigation) while providing end-to-end project execution support, including crowding in funding and technical support from regional and international investors with an interest in the CARICOM Region.

The Facility will also leverage the strengthening of ties between Africa and the African diaspora, underscored by CDF’s membership in Afreximbank since June 2023, as the Caribbean’s first regional shareholder. CDF’s membership of Afreximbank allows the Fund to readily access the various financing facilities and instruments of the Bank, including concessional debt, guarantees, grants and project preparation support, either independently or channelled through GRSF. Discussions held between CEO Soomer and President Elombi earlier this week focused on some of the practical approaches that could be taken to afford the CDF accelerated access to these financing instruments and resources.

The engagement between Mr Soomer and Mr Elombi took place on the heels of the Farewell Conference held in honour of the transformative achievements of outgoing President of Afreximbank, Professor Benedict Oramah, and the Investiture Ceremony held on 25 October to mark the swearing in of Dr George Elombi as the fourth President and Chairman of the Board of Directors of Afreximbank.

CDF – Afreximbank Partnership

The foundation of CDF’s partnership with Afreximbank is enshrined in an August 2023 Memorandum of Understanding between the two institutions, which provides for collaboration in key areas that are aligned with the wider Africa-Caribbean Trade initiative. Some of the areas for collaboration include access to appropriate financial instruments that support the development of critical infrastructure projects; provision of financing; capacity building and market access for CARICOM SMEs; promotion of Youth Entrepreneurship in CARICOM; and support in exploring optimal funding options from debt and equity capital markets for the CARICOM Region.

About the CARICOM Development Fund

The CDF established in 2008 is a regional financial institution of the Caribbean Community (CARICOM) mandated to provide technical and financial assistance to disadvantaged countries, regions and sectors participating in the CARICOM Single Market and Economy (CSME). The CDF is committed to providing effective, efficient and sustainable solutions that address the challenges faced by its member countries by delivering innovative solutions aimed at reducing intra-regional disparities through effective partnerships and the provision of tailor-made solutions aimed at building resilience and accelerating sustainable economic development in the Caribbean Community. The CDF is based in Barbados.

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