The Development Bank of Latin America and the Caribbean (CAF) has approved a grant totaling BBD 450,000 (USD 225,000) to bolster cultural tourism and the creative industries as Barbados prepares to host arts festival CARIFESTA XV.
A release from CAF dated the official award letter as being signed on Monday, August 18, 2025, at the CARIFESTA Secretariat by Senator Dr. The Honourable Shantal Munro-Knight, Minister in the Prime Minister’s Office responsible for culture, alongside Dr. Stacy Richards-Kennedy, CAF’s Regional Manager for the Caribbean and Barbados representative.
After a six-year hiatus caused by the COVID-19 pandemic, CARIFESTA is making its return. The event unites regional artists, performers, creators, and delegations in celebrating the area’s rich cultural diversity.
The 2025 edition, under the theme “Caribbean Roots. Global Excellence,” aims to serve as a platform to highlight the creative sectors, which CAF indicates is a boon to national economies and a driving force for sustainable and inclusive development.
This grant approval underscores what the organization says is its ongoing dedication to increasing investment in the creative economy, recognizing it as one of the fastest-growing sectors in Latin America and the Caribbean and a significant source of economic opportunity within the region.
In addition to showcasing the Caribbean’s unique expressions in cuisine, fashion, music, dance, visual arts, and literature, the technical assistance project will foster cultural exchanges focused on regional development challenges and opportunities. CAF also announced that it will serve as the main sponsor for “Big Conversations,” a new initiative at CARIFESTA featuring dialogues on Caribbean identity, resilience, and sustainability.
“Culture and the diverse forms of cultural expression are at the heart of Caribbean identity. They also serve as important drivers of innovation and entrepreneurship, as well as catalysts for increased regional integration and intercultural dialogue,” remarked Dr. Stacy Richards-Kennedy, CAF’s regional Manager for the Caribbean.
“CARIFESTA provides a vital platform to showcase the richness of Caribbean creativity and to demonstrate how the cultural economy generates opportunities across the creative sector. By supporting this regional festival, CAF reaffirms its commitment to collaborating with our member countries to strengthen the creative industries as engines of sustainable economic growth. As a regional development bank born from a strong desire to promote regional integration in Latin America and the Caribbean, CAF is especially pleased that this grant will facilitate the showcasing of cultural ambassadors and creative entrepreneurs from across CARICOM, Latin America, North America, and Africa,” she added.
In Barbados, CAF reports that it has previously directed funds toward cultural and heritage tourism initiatives, including projects under the Reclaiming Our Atlantic Destiny (ROAD) Program. This initiative aims to deepen connections to the nation’s history and cultural assets as part of the country’s broader development strategy.
Minister in the Prime Minister’s Office, Dr. Shantal Munro-Knight, expressed appreciation for CAF’s investment in the cultural and creative sectors. “CARIFESTA exemplifies the talent and creativity of our people. This technical assistance grant from CAF will not only enable Barbados to host an outstanding CARIFESTA XV but also create opportunities for local artists and entrepreneurs to reach new audiences, expand business prospects, and contribute to economic growth across the region,” she stated. “The government of Barbados and the National Cultural Foundation are thankful for CAF’s partnership and its focus on supporting cultural, heritage tourism, and the creative economy both locally and regionally.”
The ten-day CARIFESTA XV festival is expected to draw thousands of visitors and participants from the Caribbean and beyond.
