Caribbean countries are set to benefit from a joint Action Plan between the Caribbean Development Bank (CDB) and the World Bank (WB), which targets key development issues tied to regional resilience and growth, according to a press release issued by the Caribbean Development Bank on May 27, 2026. Central to the partnership are joint country portfolio reviews, harmonized approaches to reporting on jobs, and a regional connectivity and logistics study. The study aims to identify and address specific bottlenecks constraining intra-Caribbean trade and movement. The two institutions moved the Action Plan from intent to delivery during their fourth annual collaboration event. The meeting was held recently at CDB’s campus in Bridgetown, Barbados.
The partnership is firmly anchored in CDB’s 10-Year Strategic Plan 2026–2035, ‘Transforming the Caribbean for Resilience’. The plan identifies deepening collaboration with multilateral partners such as the World Bank as central to delivering social, economic, and environmental resilience across the region. Both Banks acknowledged the unique vulnerabilities faced by Small Island Developing States. They agreed to align their respective programmes more closely through the Action Plan to maximize impact while minimizing duplication. Senior officials also reviewed existing partnerships and identified new areas of joint engagement.
The Action Plan is designed to unlock greater co-financing opportunities, improve access to concessional resources, and strengthen the technical capacity of regional governments. These advancements are expected to translate directly into more resilient infrastructure, improved public services, and enhanced livelihoods for the people of the Caribbean. Officials shaped responses to needs expressed by Caribbean governments. They determined practical systems for improving coordination, set specific targets, and developed a semi-annual reporting calendar. The framework reflects a shared commitment to coordinated delivery.
Highlighting why the Plan is essential for regional progress, Dr. Isaac Solomon, Vice-President (Operations), Caribbean Development Bank, explained: “The Caribbean faces existential challenges that no single institution can resolve alone. Our Action Plan with the World Bank is a force multiplier. By aligning our strategies, pooling expertise, and co-ordinating financing, we can close delivery gaps to provide solutions that are faster, more efficient, and genuinely transformative for the people of this region.”
Speaking on the significance of better aligned collaboration, Ms. Lilia Burunciuc, World Bank Director for the Caribbean, said: “The Caribbean has enormous potential, and our collaboration with CDB is central to how both organisations support the realisation of the region’s development goals.” She added that the partnership represents a shared commitment to a more prosperous and sustainable region.
CDB and WBG closed the meeting by agreeing to establish a joint working group to continue operationalizing Action Plan deliverables. Follow-up engagements with regional governments, national implementing agencies, and other key stakeholders are planned in the coming months. Both Banks committed to translating shared ambition into tangible results for the people of the Caribbean. Ms. Burunciuc noted that together the institutions can help governments build more resilient economies, invest in their people, and seize greater opportunities. The Action Plan now moves into its implementation phase.
