IDB Invest and CIBC Caribbean -a financial services institution subsidiary of the Canadian Imperial Bank of Commerce (CIBC) with operations in 12 countries in the Caribbean region- have signed a Memorandum of Understanding (MoU) towards collaborative efforts in advancing sustainable development across the Caribbean region.

The MoU creates a comprehensive framework of cooperation between the two financial institutions, focusing on initiatives aimed at fostering the growth of small and medium-sized enterprises (SMEs); championing gender, diversity, and inclusion (GDI) efforts; promoting renewable energy and energy efficiency; and driving digitalization.

The partnership also aims to bolster climate-resilient financing across sectors, aligning with broader sustainability goals. The collaboration will extend to the usage of financing solutions; like guarantees, loans, co-financings, capital market issuances among others, across the identified thematic areas.