Press Release: $850m Caribbean Joint Action Plan signed by leading International Financial Institutions active in the region

On 19 May 2010, five leading international financial institutions active in the Caribbean reinforced their commitment to ensuring long-term economic growth across the region, resilience to the global financial crisis and effective deployment of assistance for reconstruction efforts in Haiti with agreement of the Caribbean Joint Action Plan. Institutions participating in the landmark agreement were the Caribbean Development Bank ($300m), the European Investment Bank ($100m), the Netherlands Development Finance Company FMO ($100m), the International Finance Corporation - part of the World Bank Group ($150m), and PROPARCO - the private sector arm of the Agence Française de Développement Group ($200m). The signature ceremony took place on the sidelines of the Caribbean Development Bank’s annual meeting in Nassau, Bahamas.