(St. John’s, Antigua and Barbuda) – Canada announced more than C$70 million in Commonwealth investments on November 3, combining support for Caribbean disaster preparedness with an approximately C$50-million development-finance loan in Zambia.

Prime Minister Mark Carney made the announcement at the Commonwealth Heads of Government Meeting. The Prime Minister’s Office said the package is intended to strengthen resilience and economic partnerships. Its largest component is lending, rather than a grant to Caribbean governments.

The backgrounder lists C$10 million over six years for UNICEF’s disaster-resilient education work and C$5 million over two years for Caribbean infrastructure expertise through the United Nations Office for Project Services.

Another C$5 million over two years supports the World Food Programme’s emergency logistics hub in Barbados. C$3 million over three years will help businesses turn sargassum seaweed into products such as fertilisers and building materials.

In Zambia, FinDev Canada will provide an approximately C$50-million loan to Zanaco to expand financial services for smaller businesses, including women-owned or led enterprises and agribusinesses, the backgrounder says. Ottawa describes it as FinDev Canada’s first direct investment in the country.

Carney also hosted Caribbean leaders for discussions on energy, food security, infrastructure and disaster response under the renewed Canada-CARICOM Strategic Partnership. This was his first Commonwealth leaders’ summit, accompanied by Foreign Affairs Minister Anita Anand.

Separately, a Canadian readout said Carney and Australian Prime Minister Anthony Albanese discussed closer commercial and regulatory cooperation on the summit’s margins, following nearly C$8 billion in bilateral trade last year.

The funding announcement sets out intended uses and multi-year commitments. It does not establish that the supported projects have been completed.

Accompanying image: editorial illustration.

Sources