- NEWSDAY.CO.TT - A la Une - 05/Sep 07:53

Grenada joins CAF

Grenada is the latest member of the Development Bank of Central America (CAF), becoming a Series C shareholder in the bank. CAF made the announcement in a media release shared on September 4. The release said CAF now has six Caricom members among its 24 shareholder countries. The release said Grenada’s decision to join the bank gives it access to agile, flexible and innovative financing tailored to its national sustainable development goals. "Grenada, like many small island developing states (SIDS), continues to experience the impact of climate crisis, from intensifying hurricanes and rising sea levels to the challenges of sargassum inundation. "These pressures create serious financial and resource constraints that impact the economy and the well-being of its people," the release said. It said CAF looks forward to partnering with Grenada to advance stable and sustainable development solutions for the country. CAF executive president Sergio Diaz-Granados said the bank was ready to work with the government and the Grenadian people "Grenada embodies the resilience and ingenuity of SIDS. "Over the past two decades, the country has endured the impacts of several severe hurricanes, yet it has demonstrated remarkable capacity to rebuild while helping to develop innovative solutions to strengthen its future and the Caribbean’s. "As a development bank rooted in this region, CAF stands ready to support the government and people of Grenada in their efforts to build a resilient country that can serve as an example to others. "We are honoured to welcome Grenada into our family of member countries and look forward to working together to build a more resilient, inclusive and sustainable future." The post Grenada joins CAF appeared first on Trinidad and Tobago Newsday.