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Changing lives through water: the Belize River Valley story

For many years, residents of the Belize River Valley depended primarily on the Belize River as their main water source. Women would spend long hours by its banks, washing and drying their laundry, and children would have to help ferry water from the river to their homes, all before the start of school. Alternative water sources included creeks, and hand-dug wells, while rainwater catchments and bottled water were the primary sources for drinking water. In 2015, this situation changed for approximately 2,000 residents of the Belize River Valley. A project funded by the Caribbean Development Bank (CDB), and implemented by the Belize Water Services (BWS) in partnership with the Government of Belize, has brought running, potable water to the community’s households. Yvonne Hyde, CEO, Ministry of Economic Development, Belize says that improving access to basic services in Belize’s rural areas has been one of the Government’s priorities. “It was felt that in providing potable water to these nine villages in a rather remote area of the country that […]

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Partnering to enhance Climate Risk Management and improve resilience in Belize

The Government of Belize, with the support of the Caribbean Development Bank (CDB), is stepping up its climate change adaptation efforts.  Belize’s Social Investment Fund (SIF), an implementing agency of the Government addressing the basic needs of the country’s most vulnerable, has set in motion plans to incorporate Climate Risk Management in its National Project Development Process.

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Event in Barbados marks closeout of EU-funded regional integration programme

Regional integration through the CARICOM Single Market and Economy (CSME) is still the most efficient way for countries in the Caribbean to overcome the challenges posed by size, scale and limited capacity in the global markets, says Monica La Bennett, Vice-President (Operations), Caribbean Development Bank (CDB). She was speaking at the opening of the recently held two-day closeout workshop for the Economic Partnership Agreement (EPA) and CSME Standby Facilities for Capacity Building. “Here in the Caribbean, factors such as small size, limited capacity, persistent vulnerability to natural disasters, high energy costs, infrastructure gaps, and institutional and regulatory weaknesses make it difficult for our borrowing member countries to build the type of competitive advantages that could lead to economic diversification and sustained growth. Today in 2017 regional economic integration is still the most viable and logical developmental response to a persistently complex, intense and unpredictable globalised environment,” said La Bennett. In December 2012, CDB and the European Commission signed Contribution Agreements for the implementation of the EPA and CSME […]

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MDB Heads of Procurement Joint Communication

The 2017 meeting of the Multilateral Development Banks’ (MDBs) Heads of Procurement (HOP) was hosted by the Black Sea Trade and Development Bank in Thessaloniki in September 5-7, 2017. The Heads of Procurement from the African Development Bank (AfDB), Asian Development Bank (AsDB), Asian Infrastructure Investment Bank (AIIB), Caribbean Development Bank (CDB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank (IDB), Islamic Development Bank (IsDB), and the World Bank (WB) attended the three-day meeting along with their delegations. The HOP have been meeting annually for the past 17 years to harmonize, to the extent possible, their institutions’ procurement policies and practices in an effort to enhance economy, efficiency, effectiveness, and fairness in all MDB financed operations. In this year’s meeting, the HOP discussed and noted that: following the adoption of the model Joint Co-Financing Framework by the HOP in late 2016, more than five framework agreements have been adopted or are being finalized between MDBs, leading to better coordination and delivery of […]

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CDB, Mexico announce Fund to boost regional infrastructure

The Caribbean Development Bank (CDB) has entered into a Memorandum of Understanding with the Government of Mexico’s development bank, Banco Nacional de Comercio Exterior (Bancomext), acting as the Trustee of the Infrastructure Fund for the Countries of Mesoamerica and the Caribbean (FIMCA, also known as Fondo Yucatán) to support regional infrastructure development. As part of the agreement, CDB will act as a financial intermediary for the Fund.

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Barbados, Grenada commence CDB-funded training to improve public policy and project management

Explore, collaborate, analyse and act. The Caribbean Development Bank (CDB) is encouraging Regional policymakers to build on these keystones in order to develop and implement more effective policies and projects. Over the next six weeks, public officials in Barbados and Grenada will gain knowledge, tools and skills to systematically and effectively move from the idea stage to drafting and implementing policies that will help the Region achieve the Sustainable Development Goals.

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CDB receives EU funding to support geothermal energy development

geothermal energy

The Caribbean Development Bank (CDB) has received EUR12 million (mn) in grant funding from the European Union Caribbean Investment Facility (EU-CIF) to support the development of geothermal exploration in the Eastern Caribbean, under CDB’s GeoSmart Initiative. The EU-CIF funds will be used to provide investment grants in the initial phases, and technical assistance grants to support capacity-building initiatives and interconnection studies. The GeoSmart Initiative was developed by CDB to provide financing to support sustainable geothermal development in five countries—Dominica, Grenada, St. Kitts and Nevis, Saint Lucia, and St. Vincent and the Grenadines. For these countries, the development of geothermal energy could be an alternative to costly and non-renewable imported fuels. “Geothermal exploration development is key to Eastern Caribbean countries achieving a diversified energy matrix and increased energy security. Although the governments have identified this as a priority, there are significant barriers, which constrain investment and achievement of their objectives. The EU-CIF contribution addresses critical gaps in the Programme by providing grant funding which is especially important in the […]

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CDB: Technical support, diversity critical in Caribbean’s shift to clean energy

Panellists_CDB participates in CREF - supports Caribbean's shift to clean energy

As the Caribbean makes the shift to clean energy, governments need technical support to plan for and implement new technologies. In addition, sector stakeholders could accelerate the Region’s transition to renewables by building diverse partnerships and networks, and improving their engagement with the wider public. These were key themes in the Caribbean Development Bank’s (CDB) presentations during the 2017 Caribbean Renewable Energy Forum (CREF) in Miami, Florida from October 18 to 20.

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