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Improving TVET in Haiti to support economic growth

Haiti is continuing on its mission to expand economic growth by creating a labour force of skilled and employable individuals. As part of the scaled-up effort, the country is getting assistance from the Caribbean Development Bank (CDB) to strengthen TVET.

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CDB champions the call for more resilient energy sector at 2018 Caribbean Renewable Energy Forum

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(L-R) Canada’s Ambassador for Climate Change, Patricia Fuller, and Vice-President (Operations), CDB, Monica La Bennett, pause for a photo at the CDB booth, during the Caribbean Renewable Energy Forum, held in Miami, Florida, from November 7 to 9, 2018 Improving the resilience of the Region’s energy sector, especially when it comes to natural disasters and the impacts of climate change, must be a priority for all countries in the Caribbean. The theme of resilience was brought into focus during the Caribbean Development Bank’s (CDB) presentations at the 2018 Caribbean Renewable Energy Forum (CREF) in Miami, Florida from November 7 to 9. Speaking during the opening of the Island Resiliency Action Challenge event, on November 7, CDB’s Vice-President (Operations), Monica La Bennett noted that the energy sector is central to every country’s goal of achieving sustainable development, and emphasised the importance of improving the resilience of the electricity grid. “The Region has identified improving the resilience of electricity systems and by extension, the energy sector, as a key component […]

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Combatting domestic violence in Grenada: The LACC experience

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The tri-state island of Grenada—comprising Grenada, Carriacou and Petite Martinique—is home to a population of just over 100,000 residents. Although Grenada has made great strides in tourism, education and other industries, the country, like many in the Caribbean Region, struggles with social problems, including crime and violence. The issue of gender-based violence (GBV), in particular, is one that has raised concerns. According to a World Health Organisation (WHO) analysis, one in three women worldwide will experience violence. In Grenada, there is significant statistical evidence of GBV. Based on records kept by the Royal Grenada Police Force, there were 1,630 reported cases of sexual offences during the period 2000 to 2010. “Over the course of the last few years we have been quite disturbed by the trends that we see, especially the tendency to use violence as a way of settling almost any kind of conflict,” said Tyrone Buckmire, Director, Legal Aid and Counselling Clinic (LACC).  “Unfortunately, in a number of instances, we have had spouses and partners being […]

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Green Climate Fund affirms its partnership with CDB

Representatives from the Green Climate Fund and the Caribbean Development Bank

The Green Climate Fund and the Caribbean Development Bank (CDB) today signed a legal agreement to open doors for more climate finance projects in the Caribbean Region. The signing of the Accreditation Master Agreement (AMA) took place on the margins of the Green Climate Fund’s Caribbean Structured Dialogue meeting, taking place this week in Grenada, which brings together regional stakeholders to plan climate action across the Caribbean Region.  Monica La Bennett, Vice-President (Operations), CDB (left) and Javier Manzanares, Executive Director ad interim (right), GCF sign the AMA in Grenada on November 9, 2018. Javier Manzanares, GCF Executive Director a.i., welcomed the agreement and stressed its importance for increasing financial flows to climate projects in the region: “The Caribbean is particularly vulnerable to climate change devastating impacts and significant investments are needed in the region’s infrastructure to strengthen its resilience. The Caribbean Development Bank has a long and successful track record and I’m convinced that our partnership is a huge step towards unlocking new climate finance potential in the region. GCF is looking forward […]

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Inaugural event explores blue economy strategy to drive energy transformation in the Caribbean

The Caribbean could transform its energy sector and diversify economic activity by exploring marine renewable energy development, says Monica La Bennett, Vice-President (Operations) at the Caribbean Development Bank (CDB). She was speaking to over 80 stakeholders and leaders at Blue Economy Caribbean in Miami on November 6. The event was sponsored by CDB, in partnership with the Government of Canada “The Region has not succeeded in leveraging its coastal resources. These remain largely under-explored, due in part, to the high capital investment costs. To fully exploit marine renewable energy sources, Caribbean Small Island Developing States will require considerable external assistance as well as the implementation of appropriate policy and regulatory frameworks,” said La Bennett. The Vice-President noted that CDB has been supporting developments in the Caribbean’s energy sector through programmes such as the Canadian Support to the Energy Sector in the Caribbean Fund (CSES-C), but says that more needs to be done. She says while most of the Bank’s renewable energy initiatives so far have been land-based, the […]

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CDB funds USD5 million project to address implementation challenges in Saint Lucia

The Board of Directors of the Caribbean Development Bank (CDB) has approved funding of USD5 million (mn) to establish a Performance Management and Delivery Unit (PMDU) in Saint Lucia. The Government of Saint Lucia is in the process of developing a Strategic Development Plan for the period 2019-2022, and has committed to adopting a new approach to executing its strategic priorities, with a focus on implementation. “CDB’s research has shown that implementation of projects and policies identified in national development plans and annual budgets remains a weak area for many countries in the Region. In addition, implementation deficits and lack of capacity often limit the effectiveness of the Bank’s projects in the Caribbean. As such, CDB is committed to helping our Borrowing Member Countries to overcome these challenges. Through this new approach, we hope to assist the Government of Saint Lucia in delivering meaningful results and outcomes that are sustainable,” said Dr. Justin Ram, Director, Economics, CDB. The funding from CDB will be used to finance the third […]

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CDB announces USD106.5 million programme of assistance for The Bahamas

The Caribbean Development Bank (CDB) has announced a USD106.5 million (mn) programme of assistance for The Bahamas, over the period 2018-2022. The programme is outlined in a new Country Strategy Paper for the country, which was approved by CDB’s Board of Directors on October 25. “This Strategy has been designed in collaboration with the Government of the Commonwealth of The Bahamas, and aims to help the country achieve its medium-term development objectives. As such, we focus on areas that are considered critical to inclusive growth, such as the provision of quality climate resilient infrastructure, energy efficiency and renewable energy, as well as governance and human capital improvement,” said Dr. Justin Ram, Director, Economics, CDB. The Strategy is built around three key pillars. Environmental Protection and Infrastructure Enhancement CDB-supported interventions will build economic resilience to weather-related shocks, with the aim of minimising post-disaster spending and maintaining macroeconomic stability in the event of a natural disaster. In addition, the Bank will focus on projects that increase energy efficiency and renewable […]

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Turks and Caicos Islands Working Towards Improving Solid Waste Management with CDB Assistance

turks and caicos islands

The Government of the Turks and Caicos Islands (TCI) is taking steps towards improving the country’s solid waste management systems through a loan of USD672, 500 from the Caribbean Development Bank (CDB). Solid waste management has become an increasingly critical issue in the tourism-dependent territory as rapid growth in the tourism sector, population increase and changing consumption patterns have led to a corresponding increase in solid waste generation. Consequently, inadequate solid waste management has been identified as one of the key environmental threats facing TCI, an issue which the Technical Assistance project will help the country assess and address. Director of Projects at CDB, Daniel Best said the goal of the project is to create an environmentally sustainable system that can serve the country well into the future. “Through this technical assistance project, the Government of the Turks and Caicos Islands will be able to develop an integrated solid waste management strategy–one that will establish a framework for the sector over a 20-year period. Sound management of TCI’s […]

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CDB approves USD75 mn loan to support Barbados Economic Recovery and Transformation Plan

The Board of Directors of the Caribbean Development Bank (CDB) has approved a policy-based loan of USD75 million to the Government of Barbados. The loan is part of wider coordinated assistance provided by international financial institutions to the Government, to support the implementation of the Barbados Economic Recovery and Transformation (BERT) Plan. Hon. Miss Mia Mottley, Prime Minister of Barbados and CDB’s Governor for Barbados and Dr. William Warren Smith, President, CDB signed the loan agreement on Friday during a ceremony at the Bank’s Headquarters. Hon. Miss Mia Mottley, Prime Minister of Barbados and CDB’s Governor for Barbados (left) signs the loan agreement at the Bank’s Headquarters on October 26, 2018, while Dr. William Warren Smith, President, CDB (right) and Alana Goodman Smith, Legal Counsel, CDB (centre) look on. The funding will support the Government of Barbados’ programme, which includes revenue administration and collection, expenditure and debt management, public financial management, and broad-based growth and social development. “This policy-based loan represents CDB’s commitment to helping Barbados restore economic […]

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