Afreximbank raises CARICOM financing cap to $5 billion

The African Export-Import Bank (Afreximbank) has raised its financing ceiling for the Caribbean Community (CARICOM) to US$5 billion, up from US$53 billion, targeting full deployment within three to four years. Announced by Dr. George Elombi at CARICOM’s heads-of-government meeting in St. Kitts & Nevis on February 25, the move builds on US$750 million already disbursed and a US$2 billion project pipeline.

Capital will prioritise value-added processing of agricultural and natural resources, infrastructure, healthcare, tourism, and creative industries across member states.

Afreximbank also pledged support for a proposed Caribbean Eximbank and for rolling out a regional payment system modelled on its Pan-African Payment and Settlement System (PAPSS), enabling real-time, local-currency cross-border transactions.

The bank is facilitating market entry for African firms – including Access Bank, Oando, and Arise IIP – with Arise exploring special economic zones in the region. Afreximbank reaffirmed plans for its African Trade Center in Bridgetown, Barbados, to anchor its Caribbean presence.

St. Kitts & Nevis will host the Africa-Caribbean Trade and Investment Forum (ACTIF2026) in July, convening investors and policymakers from both regions to advance trade and joint ventures.