2024 Annual Results Report

PARTERNSHIPS IN ACTION:

THE FOUNDATION OF GROWTH AND RESILIENCE

For over 25 years, Caribbean Export has demonstrated its leadership in managing and implementing Official Development Assistance programmes that drive regional economic growth. Recognizing the profound challenges posed by climate change, Caribbean Export has expanded its partnerships to address the vulnerabilities of the region’s Micro, Small, and Medium-Sized Enterprises (MSMEs). These businesses, forming the backbone of the Caribbean economy, face heightened risks from extreme weather events, which disrupt supply chains, damage infrastructure, and undermine agricultural productivity. According to OECD the Caribbean has seen increased frequency of extreme weather event by 85% between 2001 to 2020 compared to the period between 1980 and 2000. This underscores the escalating impact of climate change on the region. Limited access to finance, technology, and infrastructure further compounds these challenges, threatening the resilience and sustainability of MSMEs, while posing long-term risks to the region’s economic resilience. The stakes are high with an urgency to address these challenges. The region also faces structural challenges, as the World Bank has reported that the broader Latin America and Caribbean region is forecasted to grow by only 1.9% in 2024, the lowest among global regions, with a modest rebound to 2.6% anticipated in 2025. These figures highlight the need for accelerated efforts to strengthen economic resilience and competitiveness. Caribbean Export has integrated these imperatives into its transformative agenda, as outlined in its Strategic Plan 2025-2028. This agenda focuses on building a resilient private sector that aligns with the UN’s Sustainable Development Goals (SDGs), particularly those targeting poverty reduction, gender equality, decent work, climate action, and partnerships for sustainable development. By leveraging strategic alliances and embracing innovation, Caribbean Export aims to create high-value jobs and foster inclusive growth across the region. These partnerships amplify the Agency’s ability to drive impactful initiatives, from promoting green technology adoption to advancing digital transformation. Caribbean Export remains committed to collaborating with global organizations that share its vision for sustainable development. Together, we aim to navigate the challenges of a changing climate and evolving economies, paving the way for a Caribbean that is resilient, inclusive, and poised for long-term prosperity.

Latin America and Caribbean region is forecasted to grow by only 1.9% in 2024, the lowest among global regions, with a modest rebound to 2.6% anticipated in 2025.

World Bank - Taxing Wealth for Equity and Growth, 2024

14 | CARIBBEAN EXPORT ANNUAL RESULTS REPORT 2024