Guyana’s Finance Minister, Dr Ashni Singh, is urging the Inter-American Development Bank (IDB) to tailor its financing tools to better suit the realities of Caribbean countries.

Singh made the call while addressing the 2026 Annual Meetings of the Boards of Governors of the IDB and IDB Invest in Asunción, Paraguay.

The finance minister commended the Bank for what he described as a shift from reforms to implementation in 2025, but said more must be done to ensure financing instruments reflect the circumstances of borrowing countries.

He encouraged the institution to expand its lending options and “tailor its lending instruments to country context” while also recognising and using national systems.

“The countries in the Caribbean region remain amongst the most vulnerable in the world to more frequent and extreme natural disasters, external shocks, and global economic volatility. Our access to resources and financing remains limited, while our fiscal space remains tight to support our development agendas, and for these reasons, we welcome a bigger and better Bank with relevant and appropriate support for our countries. Even as our countries continue to demonstrate resilience, we require flexible financing tools, stronger private sector engagement, and targeted interventions to overcome structural constraints that hamper growth and support resilience,” Singh explained.

Speaking as chair of the Caribbean constituency at the meeting, Singh said the decisions taken by the region could shape its development trajectory.

He noted that choices made by Caribbean governments today will determine whether the region can transform its shared challenges into opportunities for faster economic growth, stronger regional trade and greater investment in climate-resilient infrastructure.

Singh also pointed to the alignment between the development priorities of Caribbean countries and the mandate of the IDB Group, noting that the institution remains the region’s largest development partner.

Turning to disaster resilience, the minister welcomed the Bank’s Disaster Risk Management Action Plan for 2026–2030, which focuses on prevention, preparedness, resilient recovery and financial protection through tools such as contingent credit facilities, catastrophe insurance and climate-resilient financing instruments.

He said these tools will play an important role in helping Caribbean countries strengthen fiscal resilience and improve preparedness for future shocks.

On behalf of the region, Singh also acknowledged the Bank’s support to Jamaica following Hurricane Melissa in 2025.

Focusing on Guyana, the minister highlighted increased approvals and financial flows from the IDB Group and stressed the value of policy-based lending.

“We underscore the importance of policy-based lending as a flexible and effective development instrument which Guyana has successfully applied across many areas over the years such as justice reform, competitiveness, financial sector strengthening and human services,” Singh said.

However, he added that lending instruments must be adapted to national circumstances and should make greater use of country systems to strengthen ownership, efficiency and long-term sustainability.

Dr Singh also welcomed the growing role of IDB Invest in Guyana, particularly as the country pursues new opportunities in areas such as transport and energy infrastructure, trade expansion and regional integration.

He encouraged the institution to increase the use of equity financing and local-currency financing to improve the bankability of major development projects.

With Guyana focusing on economic diversification, the minister also welcomed the work of IDB Lab in supporting innovation, entrepreneurship and private-sector development.

Singh concluded by reaffirming Guyana’s support for the IDB Group and its reform agenda, expressing confidence that the institution will become an even stronger partner for the Caribbean.

He is attending the meetings in Paraguay alongside Executive Director in the Caribbean Office of the IDB Navita Ramroop, Director of Projects Bernard Lord, and Senior Economic and Financial Analyst Ronette Hetsberger.