The Caribbean faces a significant infrastructure gap, particularly in renewable energy and resilient infrastructure, which affects competitiveness and inclusivity.
Many countries in the region need to accelerate their energy transition. Despite all the stated goals, ambitious targets, and NDCs, renewable energy's share of electricity capacity is below 20% in 21 of the 34 countries in the Caribbean and Central America.
Regional governments say they are firmly committed, and judging by the engagement in the room, UK firms are growing interested in bridging this infrastructure gap. This offers opportunities to align public and private investments in infrastructure, energy, and sustainability projects.
UK Export Finance has demonstrated an expanding risk appetite for financing Caribbean projects, including ports, airports, and hospitals. This indicates a willingness to back high-priority infrastructure projects supporting the region's resilience and economic diversification. UKEF’s capacity to offer financing for public and private projects adds flexibility in structuring deals that can accelerate sustainable infrastructure development.
Our discussions highlighted the importance of partnerships at the intersection of public, private, and development finance. This approach enables blending different funding sources and involving local expertise in infrastructure projects, which enhances the sustainability of investments and ensures that projects are aligned with community needs.
We believe involving local teams fosters buy-in and strengthens project outcomes, as the knowledge and skills stay within the region, promoting ongoing community development and long-term resilience.
There is a clear recognition that areas like water management, port upgrades, healthcare, renewable energy, and coastal protection are not just infrastructural needs but strategic priorities for future economic growth. By targeting these sectors, Caribbean countries can drive financial and environmental gains, build resilience against climate risks and position themselves as leaders in sustainable development.
Overall, it was a thoroughly engaging UK-Caribbean Trade and Investment Forum. The many people I met and talked with demonstrated vividly how real the daily energy challenges are and how compelling the opportunities are.
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