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US$135m Caribbean Community Resilience Fund seeks more investors

Jason Morris, Chief Investment Officer at Sygnus Capital and Finance Minister Dr. Nigel Clarke
By Javaughn Keyes
 
Sygnus Group says the US$135 million Caribbean Community Resilience Fund (CCRF) will play a significant role in helping to support the green transition for infrastructure and businesses in the region.
 
While addressing the local launch of the fund, Chief Investment Officer at Sygnus Capital Jason Morris said the CCRF provides an opportunity for impact investing. 
 
"Another objective of this fund is to also focus on enhancing the robustness of the infrastructure for Caribbean countries across the region. We have port infrastructure, road infrastructure, dry docks; very soon we will need to have electric vehicle infrastructure as we get with the times and advance technologically. So that's another focus of the fund. A third and critical focus of the fund is to provide access to financing for businesses and projects that don't have access to it," he outlined. 
 
Finance Minister Dr. Nigel Clarke said the facility comes at a critical time. 
 
"Jamaica and the Caribbean, we are all facing a potential crisis. Some people like to say a polycrisis - multiple things happening at the same time - where the solution, to large extent, is going to lie in having larger and larger pools of capital available to invest in our economies in finding solutions," he noted. 
 
The fund is seeking additional investors for accompanying preference shares. 
 
The CARICOM Development Fund has put up US$15 million in support, along with other pledges. 
 


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