Caribbean News
JAMAICA: ‘Blending’ for Growth and Development
#Kingston, June 18, 2018 – Jamaica – The European Union (EU) Delegation is introducing a new financing mechanism called ‘Blending’, 
which involves the mixing of EU grants, with loans from other international development partners.
Speaking at a recently held JIS ‘Think Tank’, First Counsellor and Head of Cooperation at the EU Delegation, Ricardo Bardia Divins, said this will allow the government to leverage EU grant resources, in order to access a larger share of low-interest loans provided by international lending institutions.
“If in a given project the lending institutions are not able to approve funding for the project because of a risk issue, if we enter into the cooperation, then this would be possible,” he said.
The grants portion from the EU significantly improves the return on investment for the country and results in a larger scale programme that can have greater effects on more people.
Mr. Divins cited the Energy Management and Efficiency Programme, which was signed by the EU Delegation, the Inter-American Development Bank, the Japan International Cooperation Agency and the Ministry of Finance and the Public Service. It was funded under the Caribbean Investment Facility.
“If the EU did not intervene in this… many of the expected objectives would not have been met,” he said, adding that the support in this area will contribute directly to the retrofitting of seven public hospitals with solar panels and air-conditioning units aimed at lowering energy consumption.
The EU has provided financing for several programmes in the areas of agriculture, infrastructural improvement, private-sector development, health, justice, security and also budget support. Head of the EU Delegation, Jamaica, Ambassador Malgorzata Wasilewska said the EU remains the largest provider of grant assistance to Jamaica, and has spent some €1.5 billion in providing development assistance to the country.
“We are very proud to be the biggest donor partner to Jamaica. It is an extremely rewarding role to be in. You will see the European logo in many places across Jamaica…. It is rewarding but at the same time we are an example of the most comprehensive cooperation. We have paved the path,” she told JIS News.
Ambassador Wasilewska said ordinary citizens have benefited from the EU’s work, especially in the banana and sugar sectors. She mentioned the EU’s support of the Sugar Estates Barracks Relocation Project to construct new homes for sugar workers and their families. She said the EU is currently assisting the Government to modernize the justice sector. The Government and the EU has signed a Cooperation Agreement valued at 
€24 million (or just over J$3 billion) to improve access to justice and the quality of justice services provided to Jamaicans.
Additionally, courtrooms are to be outfitted with digital audio-recording equipment to improve efficiency in the clearance of cases and to reduce the backlog. Funding for the equipment cost some €1.76 million (or J$250 million dollars) under the Justice, Security, Accountability and Transparency (JSAT) project, which focuses on strengthening governance and oversight in the functioning of the security and justice systems.
The Ambassador said the partnership with Jamaica is “extremely important not only to us in the Delegation, but to the members states represented here and also to our headquarters”.
“As far as the regional dynamics is concerned Jamaica is definitely a leading country. Many countries look up to Jamaica in the region here. I think there are areas that if Jamaica succeeds, others are keen to copy and follow the models,” she added.
Explaining how the EU partners with the region, she mentioned the success of the Climate Change agreement.
“I think the Paris Agreement would not have been reached if the countries of this region and the countries of the European Union had not partnered together to support it, she said.
The Agreement aims to strengthen the response to the threat of climate change by keeping a global temperature rise below two degrees Celsius and to pursue efforts to limit the temperature increase. She said the EU encourages stronger integration in the region and the Caribbean.
“The European Union is not only a peace project, but the biggest integration regional project in the world today. Cooperation between 28 member states is not an easy thing to achieve,” she pointed out.
Meanwhile, EU Political Counsellor, Gavin Tench, said the EU has supported some diverse projects. He mentioned the assistance given to farmers for the breeding of particular types of goats and the cultivation of better resistant strains of bananas “so that the recovery after a hurricane is quicker”.
He said the EU has also supported marine protection and road rehabilitation projects.
“We work very much on poverty reduction in some inner-city communities, we have helped refurbish schools, community centres so that the young and the old are involved in our work as well,” he said, adding that the organisation has been involved in all the 14 parishes.
For her part, Permanent Secretary in the Ministry of Foreign Affairs and Foreign Trade, Ambassador Marcia Gilbert Roberts, said the European Union has been “an excellent partner” over the past 43 years. She said although Jamaica enjoys diplomatic relations with European countries represented in Jamaica, “it is the Union which has come together to give us these donor funds”.
While noting that few countries can survive without partnerships, she said there are signed agreements between Jamaica and the EU through which resources are allocated in the partnership for development. One such agreement, she said is the Cotounou Partnership Agreement, “which forms the framework for the funding that is provided”.
The agreement which expires in 2020 was signed in Cotonou, Benin Western Africa in June 2000, between the EU and the African, Caribbean and Pacific (ACP), a group of 79 states.
By: Elaine Hartman Reckord
Caribbean News
Royal Caribbean Group and Sandals Resorts Announce Landmark Partnership to Accelerate Their Leading Vacation Experiences
Royal Caribbean Group Investment to Advance Sandals and Beaches’ Growth and Broaden the Group’s Vacation Portfolio
Montego Bay, Jamaica and Miami, September 24, 2026 – Royal Caribbean Group (NYSE: RCL) and Sandals Resorts today announced the signing of an agreement to form a partnership in the all-inclusive resort space with a 50% investment from Royal Caribbean Group. Building on Sandals and Beaches Resorts’ more than four decades of leadership in Caribbean hospitality, the joint venture will create new opportunities for continued resort growth while broadening the experiences across Royal Caribbean Group’s vacation platform.
The partnership brings together two of the travel industry’s most celebrated vacation companies, pairing Sandals and Beaches’ all-inclusive
resort expertise with Royal Caribbean Group’s vacation platform, including industry-leading brands – Royal Caribbean, Celebrity Cruises and Silversea – a portfolio of private destinations, new river cruising offering, and an industry-first loyalty program. United in a shared history in the Caribbean and connected by a love for their communities, the companies will offer travelers an unparalleled collection of cruise, private destination and resort experiences, serving guests across more vacation occasions and establishing their undisputed leadership in Caribbean vacations.
The joint venture expands Royal Caribbean Group into an adjacent vacation category, growing its participation in the approximately $2 trillion global vacation market, and meets the growing global demand for Sandals and Beaches Resorts by accelerating their expansion. The partnership will include Sandals and Beaches’ collection of premier all-inclusive properties across the Caribbean, and the companies will explore opportunities to broaden distribution, deepen guest engagement, and make it easier for travelers to discover vacation experiences offered across both portfolios.
“For nearly 60 years, we’ve reimagined what a vacation can be, constantly expanding the ways we inspire our guests to explore, connect and create lifelong memories,” said Jason Liberty, Chairman and CEO, Royal Caribbean Group. “We have been building a vacation platform that brings joy to millions of people around the world and creates meaningful relationships that last with our guests. Our partnership with
Sandals and Beaches Resorts is an important next step on that journey – bringing together two iconic leading vacation companies to further strengthen and grow one of the most admired resort portfolios in the world. The Stewart family has created powerful and beloved brands, and we are honored to build on that legacy. Together, we see tremendous opportunity to expand the reach of Sandals and Beaches Resorts and continue turning the vacation of a lifetime into a lifetime of vacations.”
“My father, Gordon ‘Butch’ Stewart, founded Sandals Resorts with the belief that a company built in the Caribbean could stand on the world stage alongside the most respected names in hospitality. Today is proof of how far that vision can go,” said Adam Stewart, Executive Chairman of Sandals Resorts and Beaches Resorts. “This partnership is the natural next step in building on that conviction. It gives us the ability to grow faster with a partner that shares our values of exceptional hospitality, long-term investment, and the power of enduring brands. Together, we will introduce more guests to Sandals and Beaches Resorts while creating even more extraordinary experiences for those who have made our resorts part of their lives for decades.” Stewart added, “As we continue to grow, we will remain true to what has always defined us: delivering authentic vacations that exceed expectations while creating opportunities for our team members, travel advisor partners and the communities we call home. The future has never been brighter, and I know this moment would make my father incredibly proud.”
The joint venture will be governed by a board under the shared leadership of Stewart and Liberty. Stewart will maintain a leadership role in
guiding the company’s long-term strategic growth as Executive Chairman of Sandals and Beaches Resorts. Existing reservations, loyalty programs, resort operations and cruise operations will continue as usual, with the partnership bringing additional resources to support future opportunities.
Under the terms of the agreement, Royal Caribbean Group will acquire a 50% equity interest in Sandals and Beaches Resorts for approximately $3 billion, representing a forward EBITDA multiple of approximately 10x. Royal Caribbean Group has secured committed debt financing from Morgan Stanley to fund the investment. The transaction is expected to close in early 2027, subject to customary approvals and closing conditions, and is expected to be accretive to earnings next year.
BofA Securities and PJT Partners acted as financial advisors, and Latham & Watkins and Jones Day acted as legal advisors to the Sandals Group. Perella Weinberg Partners and Morgan Stanley acted as financial advisors and Kirkland & Ellis LLP acted as legal advisor to Royal Caribbean Group.
PHOTO CAPTION: Jason Liberty, Chairman and CEO of Royal Caribbean Group, and Adam Stewart, Executive Chairman of Sandals Resorts, mark the signing of an agreement to form a landmark partnership that expands Royal Caribbean Group into the all-inclusive resort space and supports the future growth of Sandals and Beaches Resorts. The signing took place at Royal Caribbean Group’s new headquarters in Miami, with the city’s skyline in the background.
The Caribbean tourism deal first reported as a possibility on Tuesday is now a signed agreement. Royal Caribbean Group plans to pay
approximately US$3 billion for a 50% stake in Sandals and Beaches Resorts, putting the value of the business at about US$6 billion. The purchase is expected to close in early 2027, subject to approvals.
Founded in Jamaica by the late Gordon “Butch” Stewart in 1981, the resort business has a presence across nine Caribbean destinations, including Jamaica, The Bahamas and Turks and Caicos. Sandals has described its workforce as nearly 20,000 people, most of them Caribbean nationals.
“My father, Gordon ‘Butch’ Stewart, founded Sandals Resorts with the belief that a company built in the Caribbean could stand on the world stage alongside the most respected names in hospitality,” said Adam Stewart in the announcement carried by PR Newswire. He will remain executive chairman, while the Stewart family retains a stake. The companies say existing reservations and resort operations will continue as usual.
Caribbean News
Pres Ali declares three days of national mourning following MV Barima tragedy July 21, 2026
His Excellency Dr Mohamed Irfaan Ali has declared three days of national mourning following the tragic loss of lives in the M.V. Barima incident, as the nation continues to grieve alongside the families and communities affected.
The period of national mourning will be observed from Wednesday, July 22, through Friday, July 24, 2026, in honour of the victims of the
tragedy. During this time, the National Flag will be flown at half-mast on all Government buildings and other appropriate locations across the country.
As part of the observances, Wednesday, July 22, has been designated a National Day of Prayer. A National Day of Prayer and Remembrance will be held at the Kingston Seawall in Georgetown, bringing together citizens in solidarity to honour the lives lost and offer support to grieving families.
The programme of remembrance will continue with a Night of Reflection and Prayer in Port Kaituma on Thursday, July 23, followed by another observance in Mabaruma on Friday, July 24.
The government is also encouraging religious organisations, civic groups and citizens throughout Guyana to organise candlelight vigils and moments of prayer during the three days as the nation collectively reflects on the tragedy and pays tribute to the victims. The declaration of national mourning underscores the government’s commitment to standing with the bereaved families and affected communities as Guyana mourns one of the country’s most heartbreaking maritime tragedies.
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