CDB regards Modern Kingstown Port as a landmark achievement

Regional trade and connectivity have entered a new era with the recent opening of the Modern Kingstown Port. The landmark achievement was made possible through a US$130 million loan provided by the Caribbean Development Bank (CDB / the Bank), and the equivalent of a US$3 million Technical Assistance grant for project preparation, and a US$36 million grant for project implementation. The CDB in a release said the grant funds were administered by the CDB on behalf of the United Kingdom Foreign, Commonwealth and Development Office (FCDO) under the United Kingdom Caribbean Infrastructure Fund (UKCIF).

Officially opened on October 25, 2025 the CDB said this modernised port positions St Vincent and the Grenadines (SVG), as a dynamic maritime hub to boost efficiency, create jobs, and drive inclusive economic opportunity throughout the region.

Delivering remarks at the ceremony, Vice-President, Operations, CDB, Dr Isaac Solomon reaffirmed the Bank’s commitment to partnership and progress explaining, “This facility stands as a tangible demonstration of what is possible when vision, partnership, and perseverance converge to promote holistic development and transformative social and economic change. It marks a new chapter in the modernisation of the country’s transport and logistics infrastructure, strengthening the foundation for trade, economic growth, and resilience, both here in St Vincent and the Grenadines, and across the wider Caribbean”.

Through counterpart funding, the project also successfully facilitated the resettlement of 49 families from the affected community at Rose Place and the release noted that the successful execution of the resettlement component underscores the government and the Bank’s unwavering commitment to people-centred development.

CDB’s investment in the Kingstown Port reflects the Bank’s vision for inclusive, climate-resilient development and the vital role that maritime infrastructure plays in enabling trade and national competitiveness. At the time of approval during the Bank’s December, 2019 board meeting, the project represented the largest capital investment to a Borrowing Member Country.

“As we look to the future, CDB remains committed to working alongside the Government and people of St Vincent and the Grenadines, supporting your efforts to strengthen infrastructure, empower communities, and accelerate sustainable growth,” said Dr. Solomon.

“The modernised Kingstown Port aligns with CDB’s Rebirth-Innovate-Transform- Thrive agenda. It will enhance quality of life, foster regional collaboration, and promote lasting prosperity across the Caribbean,” the CDB release concludes.