US to Provide Funding to Support Caribbean Port Infrastructure

WASHINGTON, DC – The United States says it will provide US$10 million in programming to support “resilient” Caribbean port infrastructure through the Caribbean Basin Initiative (CBI).

The CBI is a U.S. economic programme launched in 1983, primarily through the Caribbean Basin Economic Recovery Act (CBERA) providing more than 19 Caribbean/Central American countries duty-free access to the U.S. market for many goods.

It aims to foster economic development, trade, and export diversification and it is distinct from the Caribbean Basin Security Initiative (CBSI), a security-focused partnership.

In a statement, the US Department of State said that the funding was announced during a roundtable with US maritime industry leaders and Caribbean port authorities held on Monday to advance commercial diplomacy and safeguard critical infrastructure in the Caribbean.

“This event underscores the U.S. commitment to strengthening economic engagement and high-quality infrastructure development in the Caribbean port sector,”  the State Department said in a brief statement, without naming any country that would benefit from the funding.

It said that roundtable participants discussed expanding US private sector investment and identifying opportunities to strengthen port infrastructure, trade, and tourism across the region, while maintaining ethical and transparent business practices.

“The United States looks forward to continued collaboration with Caribbean partners and further strengthening our economic ties across our region,” the statement added.