Trinidad and Tobago’s economic landscape is getting a major boost.
Japan is contributing US$40 million through an IDB financing package directed at First Citizens bank to support local small and medium-sized enterprises (SMEs) and households.
The landmark signing ceremony took place on Wednesday at the IDB Group Country Office in St Clair.
Japan’s Ambassador, Dr Akima Umezawa, joined key officials, including Planning Minister Senator Dr Kennedy Swaratsingh and FCB Acting Group CEO Sana Ragbir, to formalise the agreement.
The package is part of a US$200 million financing framework. It features US$140 million in committed loans—including US$100 million from IDB Invest and US$40 million from the Japan International Cooperation Agency via the TADAC Fund—alongside a US$60 million uncommitted option.
The funds will directly expand financing for small businesses, grow mortgage lending for low- and middle-income families, accelerate digital banking and establish a sustainable lending portfolio.
Officials note that this partnership highlights Japan’s enduring commitment to inclusive growth, driving long-term economic resilience across Trinidad and Tobago and the wider Caribbean.