Haiti has become the 12th member state of the Caribbean Community (CARICOM) to join the partnership agreement between CARICOM countries and the African Export-Import Bank (Afreximbank). The agreement was signed on 25 September 2024 on the sidelines of the 79th United Nations General Assembly (UNGA) in New York, during the Haitian Investment Forum. Following this unprecedented meeting, Afreximbank announced its intention to set up a USD 250 million facility to support the reconstruction of the Haitian economy.
Haiti is now part of the Afreximbank family. With the signing of an agreement at the Haitian Investment Forum on 25 September 2024, Haiti became the 12th member state of the Caribbean Community (CARICOM) to join the partnership agreement between CARICOM countries and the African Export-Import Bank (Afreximbank). During the event, held on the sidelines of the 79th United Nations General Assembly (UNGA) in New York, the Prime Minister of the Republic of Haiti, Garry Conille, and the President of Afreximbank, Benedict Oramah, signed the documents formalising Haiti’s accession to the partnership.
Haiti’s accession to this partnership agreement marks another historic step towards enhanced Afro-Caribbean cooperation, helping to propel Africa’s global agenda towards a more prosperous future.
Benedict Oramah, President of Afreximbank
The Bank introduced the partnership in 2022, echoing the African Union’s 2008 resolution designating the diaspora as Africa’s sixth region, recognising its deep historical, cultural and political links. The agreement aims to promote the global agenda for Africa, which includes the expansion of two-way trade and investment between Africa and its diaspora. According to experts, Haiti’s decision paves the way for the country’s public and private sector institutions to access the $1.5 billion financing limit approved by Afreximbank’s Board of Directors to support trade-related projects and transactions in the region.
It could also involve supporting Haitian investors with a view to strengthening their business, and creating or developing platforms for exchanges between companies in the two regions, so as to broaden the opportunities for financing between them, with a first under a line of 250 million dollars and other benefits. This partnership is a real opportunity to strengthen cooperation and economic development between African and Caribbean countries.
Yannick Levodo, Economist – Cameroon
During the ceremony, Afreximbank announced its intention to set up a US$250 million facility to support the reconstruction of the Haitian economy. In just under two years, the multilateral bank has provided more than $2.5 billion in financing across CARICOM, targeting key areas such as infrastructure development, climate adaptation projects and SME financing, among others.
