CAF – Development Bank of Latin America and the Caribbean and the Ministry of Finance of Barbados convened a high-level Private Sector Dialogue to discuss how CAF’s financing instruments can be channelled to Barbadian firms to support scaling up for increased trade in goods and services and to advance the country’s export-led growth agenda.

The Dialogue took place at the Sagicor Cave Hill School of Business and Management on Tuesday 16 June and brought together business leaders, financial institutions, state agencies and public sector officials for a targeted discussion on investment opportunities with private companies and financial institutions in Barbados.

Barbados is placing the private sector at the centre of its economic transformation agenda, with a focus on increased exports, investment and competitiveness, seeking to create new opportunities for economic expansion. The country’s decision to become a full member of CAF was intended to also open a wider financial envelope for private sector projects and public-private partnerships.

Honourable Ryan Straughn, Minister of Finance of Barbados, said the country’s renewed focus on increasing exports requires the private sector to play a more leadership role in the country’s development.

“Export-led growth is not a government project with the private sector as cheerleaders on the sideline. It requires investment, risk and the kind of bold commercial decision-making that only you in this room can make,” Minister Straughn said. “We spent eight years making Barbados fiscally sound. What we are asking now is for the private sector to help make Barbados economically formidable.”

Minister Straughn noted that Barbados must continue to compete outward, earn more foreign exchange and build opportunities that generate wealth in Barbados and across the region. He said CAF’s value as a regional institution is in its responsiveness to the needs of its shareholder countries and its networks across Latin America and the Caribbean as well as globally, which can help connect Barbadian businesses to financing, partners and new markets.

Dr. Stacy Richards-Kennedy, CAF Regional Manager for the Caribbean and Representative in Barbados, said the Dialogue aimed to move beyond general discussion and focus on practical opportunities.  

“If we are serious about economic growth, jobs, exports and resilience, then the private sector cannot be on the margins of development. It has to be at the centre,” Dr. Richards-Kennedy stated. “The question before us is how do we work together to unlock more of its potential.”

She said Barbados’ most recent economic outlook reinforces the importance of private sector participation. She cited the April 2026 Outlook for Barbados Economy report by the Central Bank of Barbados’ which projects that public and private sector investment will continue to support economic activity, with infrastructure upgrades, renewable energy projects and tourism-related developments expected to support employment, enhance productive capacity and strengthen medium-term growth.

Dr. Richards-Kennedy also underscored the importance of public-private partnerships (PPPs) for small island developing states.

“Well-structured public-private partnerships (PPPs) can help align public priorities with private capital and execution capacity. They can also help move projects into new areas that are vital to Barbados and our region’s development,” she said.

Antonio Silveira, CAF Vice President for Private Sector, delivered the feature presentation outlining the range of instruments available to support private sector and PPP projects, such as non-sovereign loans and lines of credit, structured finance, partial credit and risk guarantees, equity investments and specialised financing vehicles, business-linked technical cooperation, and support for structuring bankable projects.

“CAF’s work with the private sector is directly aligned with what Minister Straughn outlined under BERT 3.0 (Barbados Economic Recovery and Transformation programme), placing the private sector as a leader in the development process. We looked closely at the BERT 3.0 agenda, including infrastructure, renewable energy, deepening capital markets, increasing public and private investment, PPP advisory and digital transformation, and we are keen to engage with Barbados on initiatives that can be developed in a sustainable way,” said Silveira.

In 2025, CAF’s Vice Presidency for Private Sector approved USD 10.3 billion in operations, representing 55 percent of CAF’s total approvals for the year, and managed an active portfolio of USD 4.1 billion.

CAF has also been expanding its private sector support in other Caribbean countries. In Trinidad and Tobago, for example, CAF approved a USD 35 million facility with EXIMBANK to assist small and medium-sized enterprises seeking to scale their operations, adopt new technologies and become more competitive. CAF’s is currently partnering with the Caribbean Development Bank on a line of credit facility and is actively engaged with other partners in the region to unlock additional financing tools that will benefit private sector enterprises.