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OECS stakeholders meet in Barbados to discuss public procurement reform

Participants in the OECS Public Procurement Reform Workshop, held at the Caribbean Development Bank from June 20-21, 2017. Reforming the public procurement process within the Organisation of Eastern Caribbean States (OECS) could allow governments to better manage the use of scarce public funds. Such reforms also have the potential to contribute to inclusive growth by encouraging the participation of small- and medium-sized local businesses. However, many OECS countries have not yet fully implemented the necessary measures to foster reform, which has sometimes led to delays in project implementation and optimum value for money outcomes not being realised. From June 20 to 21, 2017, the Caribbean Development Bank (CDB) hosted a workshop to support and advance public procurement reform in the OECS, at its headquarters in Barbados. The workshop provided a forum for representatives from OECS countries, the OECS Commission and the Caribbean Community (CARICOM) to review the current state of public procurement and to facilitate agreement on a unified approach to procurement reform within the OECS.  “In the […]


Prime Minister of Grenada and Chairman of CDB’s Board of Governors pays official visit to Bank’s Headquarters

Prime Minister of Grenada, President of CDB

Dr. The Right Honourable Keith Mitchell, Prime Minister of Grenada and Chairman of the Board of Governors of the Caribbean Development Bank (CDB), today urged the institution to continue playing a role in accelerating the implementation of the development agenda for the Caribbean. “Together, united, we must forge ahead, locking in the gains we have made as a Region; and, building on those gains, accelerate a development agenda to improve the lives of our Caribbean family. CDB must continue to play the integral role it has been playing in this united and focused approach to advance regional development. We must never back away from this,” said Dr. Mitchell, in his address to the Bank’s Staff during an official visit to CDB in Barbados.


ILO and CDB hold policy dialogue on social protection and youth employment

Members of the ILO Decent Work Team and Office for the Caribbean met with representatives of the Caribbean Development Bank (CDB) for a policy dialogue on social protection and youth empowerment and employment — two key areas of work for both organizations that play an important role in promoting an inclusive, equitable and prosperous Caribbean. Representatives from the CARICOM Single Market and Economy (CSME) Unit and the UN country team for Barbados as well as the countries of the OECS also attended the meeting.  Development partners agreed on the relevance and importance of strengthened collaboration, especially in light of the integrated nature of the 17 Sustainable Development Goals, ascribed to by all the Caribbean nations. The meeting was introduced by Monica La Bennett, Vice-President (Operations), CDB; Claudia Coenjaerts, Director, ILO Decent Work Team and Office for the Caribbean; and Stephen O’Malley, UN Resident Coordinator for Barbados and the OECS. Although the Caribbean has a good track record on the Human Development Index, the shortcomings in social protection and […]


Stakeholders recommend Regional coordination effort to improve education results


– Education stakeholders from across the Caribbean are recommending the establishment of a dedicated coordination platform, which will implement and monitor the Region’s progress on achieving Sustainable Development Goal (SDG) 4 Education Goals and Targets. SDG 4, one of the global goals adopted by world leaders in 2015, urges countries to “ensure inclusive and quality education for all and promote lifelong learning.” Stakeholders made the call for the platform during a Caribbean Development Bank (CDB) / UNESCO Regional Technical Workshop on the implications of SDG 4 for education planning, monitoring and evaluation. Stakeholders included approximately 100 representatives from Ministries of Education, as well as CDB, UNESCO, UNICEF and the Caribbean Centre for Education Planning at the University of the West Indies (UWI), Mona. Speaking at the launch of the Workshop, CDB Acting Vice-President (Operations), Monica La Bennett, noted that countries in the Region are committed to developing their education systems. “Even in these economically challenging times, many countries invest up to 6% of their Gross Domestic Product and […]


CDB signs cooperation agreement with the UNDP

The Caribbean Development Bank (CDB) and the United Nations Development Programme (UNDP) have signed an agreement that provides a framework to improve cooperation between the two entities. The signing took place at the Bank’s headquarters in Barbados on June 15, 2017. The agreement allows CDB to utilize expertise from UNDP in the execution of specific projects, which the Bank is funding, so that the most effective outcomes for the Bank’s 19 Borrowing Member Countries are achieved. Acting Vice-President (Operations) at CDB, Monica La Bennett, who signed on behalf of the Bank said the signing strengthened the ongoing spirit of collaboration between the two development partners. “In this era when we are asked to do more with less, it’s imperative that we collaborate. Partnerships allow us to leverage our scarce resources to achieve shared goals and objectives especially in the context of the sustainable development goals. CDB is committed to working to assist its Borrowing Member Countries to achieve the Sustainable Development Goals [SDGs] which they have identified as […]


CDB funded education related projects in Belize ready to fulfill mandates

Last month in Belize, the Government moved closer to fulfilling its vision of using education for social, economic, cultural and environmental development. Through funding from the Caribbean Development Bank (CDB), the extension of Grace Primary School in Belize City was inaugurated and at least 20 residents of the Gracie Rock community received certificates of completion from a capacity-building training programme. The extension to the Grace Primary was inaugurated on May 10, 2017.  Now at least 150 more students can be accommodated at the school where the single-storey reinforced concrete building was constructed at a cost of USD750,138. This will enable the school to address the increasing demand for enrollment and overcrowding. Along with classrooms, the building includes bathrooms for students and teachers as well as a lunch area. Also, the structure, which will serve as a hurricane shelter for residents of the surrounding community, was built to accommodate persons with disabilities. The project included the provision of office and computer equipment and a security surveillance system, providing students […]


CDB to pay Haiti’s 2017-2018 premiums for catastrophe insurance

The Caribbean Development Bank (CDB) has approved a grant to Haiti to cover the country’s 2017-2018 insurance premiums with CCRIF SPC, the company that provides parametric insurance coverage to the Caribbean and Latin America.  The Bank is making available the sum of USD3.5 million to meet the cost of the premiums for tropical cyclone, earthquake and excess rainfall coverage. Parametric insurance contracts pay out quickly and reliably for disasters. They play a unique role in tackling humanitarian emergencies by providing quick liquidity at a time when there is a dramatic reduction in Government revenue and, at the same time, a need for large government services expenditures. CDB has committed to continue paying the premiums to support efforts related to emergency disaster response and recovery, and to provide assistance to Haiti through other mechanisms, which aim to build resilience to the impact of natural hazards.  CDB’s Director of Projects, Daniel Best said the commitment is consistent with the Bank’s focus on promoting environmental sustainability and climate change resilience. “For […]


CDB Governors put the environment, gender and private sector growth in the spotlight at Annual Meeting

CDB President Annual Meeting - environment, gender equality, private sector growth

As the 47th Annual Meeting of the Caribbean Development Bank (CDB) closed on Friday in Providenciales, the institution’s Governors identified environmental sustainability, gender equality and private sector growth as key priorities for the Region. They also challenged CDB to pursue bold and transformative social and economic change that can make a tangible difference to the lives and livelihoods of Caribbean people.