CIBC FirstCaribbean was title sponsor for the 3rd Caribbean Infrastructure Finance Forum held Dec 6-7 at the British Colonial Hilton. Managing Director of Corporate & Investment Banking, Berisford Grey says the institution is committed to assisting governments across the region to achieve their infrastructure development goals. "What we want to do is be there as a long-term partner with governments across the region so that we can help them to be leaders in terms of banking and to realize the goals they want to achieve when it comes to infrastructure development."
Delegates at CARIF addressed several key issues, including the high cost of energy, the importance of public-private partnership among business and the need for liquefied natural gas (LNG) in the region. Bahamas Deputy Prime Minister the Hon. Philip Davis gave the keynote address, highlighting the need for more emphasis to be placed on renewable energy and noting that Bahamas Power and Light Limited (BPL) wants 20% of its power from renewable energy within the next five years. CIBC FirstCaribbean is a leading financial lender for BPL’s parent company, The Bahamas Electricity Corporation, and plans to continue working with the government to ensure that the infrastructural needs are met when it comes to energy and other structural needs.
Energy reform was one of the major highlights during the conference and Mr. Grey said CIBC FirstCaribbean is willing to help the government to accomplish that goal. "That is significant…that basically means we have a lot of work to do, we have a lot of opportunities to fund and we have a lot of strategic decisions to make as a region."
CIBC FirstCaribbean teamed up with New Energy Events to host the event.
See CIBC FirstCaribbean Release below.
CIBC Release - CARIF