CARIF Market News - Page 2 of 29

UK commits over US$21.5 million to boost Jamaican agriculture with new irrigation project
April 25, 2025
The UK government has pledged approximately US$21.5 million to support Jamaica’s Southern Plains Agricultural Development Project, which includes the new Parnassus Irrigation System and Agro-Park in Clarendon. Funded through the UK Caribbean Infrastructure Fund and implemented by the Caribbean Development Bank, the initiative aims to enhance irrigation, infrastructure, and climate resilience. Source: Loop News
Mexico joins Caribbean nations in implementing cruise passenger tax for sustainable tourism
April 25, 2025
Mexico will introduce a new cruise passenger tax in 2025, aligning with Caribbean countries such as Barbados, Jamaica, and the Dominican Republic in adopting similar measures. This initiative reflects a broader regional shift toward sustainable tourism, using tax revenue to support environmental protection, infrastructure upgrades, and cultural preservation. Source: Travel and Tour World
Jacobs awarded US$137 million contract to oversee U.S. Virgin Islands infrastructure rebuild
April 25, 2025
Jacobs has secured a US$137 million, three-year contract from the Virgin Islands Public Finance Authority to manage the reconstruction of critical infrastructure across St. Croix, St. Thomas, and St. John. As part of the Rebuild USVI initiative, Jacobs will help restore hospitals, schools, roads, and utility systems damaged by hurricanes Irma and Maria. The company […]
Cuba launches construction of 40 solar-powered EV charging stations
April 25, 2025
Cuba has announced the construction of 40 photovoltaic-powered electric vehicle charging stations, starting in Havana, where most of the country’s nearly 50,000 electric vehicles are located. The project, led by state-owned Cimex, will roll out in four stages of 10 stations each. Each station will generate 600 kWh of solar energy daily and store 122 […]
Wärtsilä signs performance-based decarbonization deal with Curaçao utility Aqualectra
April 25, 2025
Wärtsilä has signed a five-year decarbonization services agreement with Curaçao’s utility Aqualectra, tying its payments to outcomes like reduced CO₂ emissions, improved energy reliability, and increased renewable energy use. The deal supports Curaçao’s goal to raise its renewable capacity from 30% to 70% by 2027 and includes the installation of a 38.4 MW grid balancing […]
Belize and CDB review progress on major road infrastructure projects
April 10, 2025
Belize’s Ministry of Infrastructure Development and Housing (MIDH) is reviewing major road projects—including the Coastal Highway, Philip Goldson Highway, and Eighth Road Project—alongside the Caribbean Development Bank (CDB), a key funding partner. Source: Edition Channel 5 Belize
Grenlec seeks consultants for solar-plus-storage project at Grenada’s international airport
April 10, 2025
Grenada Electricity Services (Grenlec) is seeking consultants to support the development of a solar-plus-storage project at Maurice Bishop International Airport, featuring a 15.1 MW solar farm and a 10.6 MW / 21.2 MWh battery energy storage system. The World Bank and Caribbean Development Bank will co-finance the project. Source: PV Magazine LATAM
IDB Invest and Massy Group launch US$150 million financing initiative to boost trade and food security in the Caribbean
March 27, 2025
IDB Invest and Massy Group have formed a strategic partnership to provide up to US$150 million in regional financing to support trade, food security, and sustainable growth in the Caribbean. The package includes a US$90 million long-term loan for capital upgrades and expansion, and a US$60 million trade finance program to bolster intraregional trade and […]
CDB approves US$17 million loan to transform education in Saint Lucia
March 13, 2025
The CDB has approved a US$17 million loan to support Saint Lucia’s education transformation initiative, aimed at expanding access to quality education, modernizing infrastructure, and improving teacher training. Source: Jamaica Observer