Afreximbank Increases Caribbean Financing Limit to US$5 Billion to Deepen Africa-CARICOM Trade

The African Export-Import Bank (Afreximbank) has announced a significant expansion of its commitment to the Caribbean, increasing its financing limit for CARICOM member states from US$3 billion to **US$5 billion** over the next four years. Speaking at the landmark 50th CARICOM Heads of Government Meeting in Basseterre, St. Kitts and Nevis, Executive Vice President Dr. George Elombi confirmed that the bank has already moved from policy to action, with US$750 million disbursed and over **US$2 billion in pipeline transactions** currently being processed. This capital surge is designed to bridge the historical "trade gap" between Africa and its diaspora in the Caribbean. A cornerstone of this strategy is the establishment of an African Trade Centre in Bridgetown, Barbados, which will serve as a physical hub for B2B networking and trade facilitation. Furthermore, Afreximbank is supporting the creation of a dedicated Caribbean Eximbank, providing the region with a specialized financial institution to drive export-led growth and reduce reliance on traditional Western correspondent banking. The investment focus remains diversified across critical high-growth sectors, including healthcare, tourism, agro-processing, and large-scale infrastructure. Perhaps most significantly, the bank is backing a regional payment system modeled after Africa’s Pan-African Payment and Settlement System (PAPSS). This move aims to allow Caribbean nations to settle intra-regional trade in local currencies, mirroring the financial integration successes seen in the EAC and across the African continent. By treating the Caribbean as Africa’s "Sixth Region," Afreximbank is creating a powerful new trade corridor that bypasses traditional intermediaries. For Kenyan and African exporters, this represents an opening into the lucrative Caribbean tourism and services markets, while offering Caribbean nations access to Africa’s expanding industrial base and the benefits of the AfCFTA. Why This MattersFinancial Integration: The PAPSS-modeled payment system will drastically reduce the cost and time of cross-border transactions in the Caribbean. South-South Trade: Creates a direct, institutionally backed trade bridge between the two regions, fostering economic independence. Institutional Capacity: The launch of a Caribbean Eximbank provides local businesses with the long-term credit needed for industrial scaling. Infrastructure Resilience: Targets vital sectors like healthcare and tourism, which are the economic lifebloods of many island states. Opportunity Sector Trade Finance, FinTech (Payment Systems), Tourism Infrastructure, Healthcare, Agro-Processing, Maritime Logistics. Follow @MotoSeenAfrica for more updates on business, trade, investments, opportunities and economic growth across Africa. Moto Seen Africa — Africa’s View, Seen Clearly. #Afreximbank #CARICOM #GlobalAfrica #SouthSouthTrade #PAPSS #TradeFinance #CaribbeanEconomy #AfricaTradeCorridor