THE WORLD BANK GROUP IN THE CARIBBEAN
However, the region faces persistent structural challenges. Growth has been slower than in other small states, and public debt remains high, amplified by natural disasters that can erase an entire year's economic output. Electricity costs are among the highest in the Latin America and Caribbean region, due to dependence on imported oil, and children average only 7.8 learning-adjusted years of schooling. The Latin America and Caribbean region was the hardest-hit globally by COVID-19, with GDP contractions of up to 20% in 2020.
The World Bank Group is addressing these challenges through a comprehensive three-pillar approach. This partnership is supported by a $3.3 billion active portfolio across 73 active projects in 11 countries.
- Creating One Economic Space drives regional integration by improving connectivity through harmonized customs regulations and robust digital infrastructure. This approach boosts high-value tourism through experiences better integrated with local economies, leveraging regional networks to diversify into renewable energy and digital services. Strategic partnerships enable pooled procurement and large-scale infrastructure investments through public-private partnerships.
- Strengthening Cross-Cutting Resilience focuses on disaster preparedness through enhanced building codes and sustainable coastal management. Investments in resilient infrastructure prioritize retrofitting critical facilities like hospitals and schools to withstand hurricanes and earthquakes. Improved disaster risk financing includes fiscal buffers, regional risk transfer instruments, and comprehensive insurance strategies.
- Enhancing Human Capital Development tackles education quality disparities while strengthening health systems for pandemic preparedness and universal health coverage. Enhanced social protection systems improve adaptive shock responsiveness and targeting, while regional training programs address skills gaps in sectors like technology and green energy.
World Bank-supported projects are creating results throughout the region. In Jamaica, over 1.6 million people have benefited from upgraded infrastructure through the Disaster Vulnerability Reduction Project. In Haiti, 22,000 households have received mobile cash transfers. The government of Saint Lucia has expanded maternal and child health services, while Guyana has added 30 ICU beds as well as diagnostic labs. Blue economy efforts also actively support recovery across the Eastern Caribbean.
Strong regional partnerships with the Inter-American Development Bank and Caribbean Development Bank, as well as partnerships with the European Union, Canada, and the United Kingdom's Foreign, Commonwealth & Development Office, align financing to enhance service delivery and outcome-focused results. This helps to strengthen resilience, inclusivity, and sustainability throughout the Caribbean.
BY THE NUMBERS: LATIN AMERICA & THE CARIBBEAN
Education & Jobs
Jobs and skills development are essential throughout the Caribbean, supported by robust education systems and reliable digital infrastructure. Together, these elements drive inclusive growth and enhance health and economic outcomes across the region.
Health
Caribbean countries carry a significant burden from non-communicable diseases. Improving regional health outcomes requires stronger health systems, broader universal coverage, and better access to essential medicines.
Energy
Discover how the World Bank Group is transforming the Caribbean’s energy landscape through three new projects that are lowering costs, boosting economies, and powering a sustainable future.
Discover the most recent blogs, stories, and insights highlighting the Caribbean’s development, challenges, and opportunities.
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