IDB Invest – UK’s BII to support businesses in the Caribbean
Originally published by Caribbean News Global Read the original
WASHINGTON, USA – IDB Invest and British International Investment (BII), the United Kingdom’s development finance institution and impact investor, have signed a memorandum of understanding to expand investment opportunities and mobilise additional capital for private sector projects in Belize, Dominican Republic, Guyana, Haiti, Jamaica, and Suriname.
The agreement establishes a framework to facilitate joint investments, streamline financing processes, and improve coordination between the two institutions. By working more closely on the identification, structuring, and execution of transactions, IDB Invest and BII aim to expand financing opportunities for businesses and projects.
“The Caribbean is a strategic priority for IDB Invest, and we are committed to expanding investment opportunities and supporting sustainable growth across the region,” said James Scriven, CEO of IDB Invest. “Our partnership with British International Investment is an important step in that direction. By combining our regional expertise and origination capabilities with BII’s investment capacity, we can mobilise more private capital, unlock new investment opportunities, and deliver greater development impact across the Caribbean.”
Leslie Maasdorp, the chief executive of BII, said:
“BII has played a role in the economic development of the Caribbean since the 1950s. In 2022, we formally announced our return to the region after a 20-year absence. This proposed partnership with IDB Invest will enable us to commit greater sums of capital in the region to create jobs and support countries to adapt to meet the challenges of the climate emergency.”
Since announcing its return to the Caribbean, BII has made a $10 million commitment to the Private Equity fund, SEAF Caribbean SME International.
This alliance also supports IDB Invest’s Originate-to-Share business model, which seeks to mobilise additional resources by bringing partners and investors into transactions originated and structured by IDB Invest.
Through this collaboration, both institutions aim to make more efficient use of their financing capacity and expand private sector investment in the Caribbean.
