What Is the Caribbean Basin Initiative?


Quick Answer

The Caribbean Basin Initiative was launched in 1983 through the Caribbean Basin Economic Recovery Act. It was expanded further in 2000 through the U.S.-Caribbean Basin Trade Partnership Act. The initiative is intended to facilitate the economic development of countries included in the program.

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Full Answer

In 1982, President Reagan established the program as a perk for nations that sided with the U.S. in cold war politics. The CBI program includes 24 countries in Central America and the Caribbean. The CBI is not a trade agreement. It is a non-reciprocal grant that allows countries in the program to freely access the U.S. market for goods such as textiles and apparel made in those countries.

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