Barbados and the U.S. Export-Import Bank (USExim Bank) have entered into a US$500 million Memorandum of Understanding (MOU) to advance critical sectors such as renewable energy, cybersecurity, water and sanitation, and maritime domain awareness.

The agreement, signed on Monday by Prime Minister Mia Amor Mottley and USExim Bank Chairwoman Reta Jo Lewis, will facilitate the financing of U.S.-made goods and services for government-led projects. These initiatives align with Barbados’ commitment to achieving 100 per cent renewable energy by 2030 and strengthening its digital security infrastructure.

Speaking at the signing ceremony, Chairwoman Lewis said:

“The agreements send a signal to the market that EXIM is eager to finance meaningful projects that support new business opportunities in key sectors across the United States and the Eastern Caribbean. This is what strategic partnerships between the U.S. and our key allies look like.”

“At EXIM and throughout the US government, we see Barbados as a key country in the Caribbean where Exim can support impactful projects that improve lives and build economies. From small-scale business support to large transformational infrastructure projects, Exim has the tools to help a wide variety of clients across Barbados.”

Prime Minister Mottley described the agreement, which is effective through 2026, as a significant achievement for both parties. She noted that the targeted areas are vital for maintaining a robust investment environment that supports future foreign investment in Barbados. She went on to predict that 2025 "promises to be a boom year in terms of investment and execution".

Also in attendance were the United States Ambassador, Roger Nyhus; Minister in the Ministry of Finance, Ryan Straughn; Minister of Innovation Marsha Saddle; Minister in the Ministry of Economic Affairs and Investment, Chad Blackman, and other officials from both countries.

During her visit to Barbados, Chair Lewis held a business roundtable discussion with government officials, private sector leaders, trade associations and regional partners to explore new opportunities for U.S. businesses and exporters, with the goal of deepening economic ties between the United States and the Caribbean and creating American jobs. Tomorrow, Chair Lewis is scheduled to meet with representatives from the Barbadian Defence Forces and the Regional Security System, both important regional security partners.

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