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Stakeholders meet to develop Regional Strategic Plan for the water sector

Water specialists from across the Region have been meeting in Barbados to continue work on the development of a regional strategic plan for the water sector. The plan will propose possible solutions for the challenges facing the industry in the Caribbean, and will be presented at the 8th World Water Forum to be held in Brasilia, Brazil in March. The development of a strategic plan for the water sector in the Caribbean Region project is being supported by the Caribbean Development Bank (CDB), in partnership with the Inter-American Development Bank (IDB) and the Caribbean Water and Wastewater Association (CWWA). Despite several initiatives, many countries in the Region still struggle to provide potable water at an affordable rate, while covering operating costs. L. O’Reilly Lewis, Division Chief, Economic Infrastructure Department, CDB, said that some of the problems facing the water sector included issues posed by climate change, inadequate governance arrangements, and lack of financing and investment. “Pipes and water treatment plants alone will not solve our water challenges. The […]

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CDB unveils logo for the 48th Annual Meeting of its Board of Governors

Grenada, Logo

The Caribbean Development Bank (CDB) has unveiled the logo for its 48th Annual Meeting of the Board of Governors, which is scheduled to take place in Grenada on May 30 and 31, 2018. On February 16, a visiting team from CDB shared the design with Prime Minister of Grenada and Chairman of the Bank’s Board of Governors, Dr. the Rt. Hon. Keith Mitchell, during a meeting to update him on plans for the gathering in May. The logo, selected in collaboration with officials from the host country, depicts a Grenada dove, the national bird, rendered in red, green and gold—the country’s national colours.  The design, themed “bringer of peace and hope” aligns with the buzzword for this year’s Annual Meeting agenda: Resilience.   The 2018 Annual Meeting programme includes: The William G. Demas Memorial Lecture, a signature event at which a distinguished speaker makes a presentation on a trending economic and social development topic. VYBZING, a Youth Outreach Programme, through which the Bank will engage the youth of […]

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CDB, UNICEF partner to improve quality of early childhood education in the Caribbean

International and Regional academicians, researchers and practitioners have convened in Antigua and Barbuda to discuss opportunities and plans for improving the quality of and access to early childhood education for Caribbean children ages zero to five. The three-day Early Childhood Development Regional Research Conference, themed “Early Moments Matter – Nurturing Care in the Early Years”, takes place February 13 to 15.

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CDB and DFC launch USD20 mn consolidated line of credit in Belize

On January 31, 2018, under the theme “Facilitating DFC’s Developmental Mandate,” the Caribbean Development Bank (CDB) and the Development Finance Corporation (DFC) launched CDB’s 8th Consolidated Line of Credit to the DFC. This new BZD40 million (USD20 mn) credit line, guaranteed by the Government of Belize, enables the DFC to continue financing, on affordable terms, market segments that are not readily catered for by the commercial banks and other financial institutions. These include priority sectors such as small and medium size enterprises, student loans, low income housing and energy efficiency / renewable energy projects. The Credit Line is complimented by a technical grant of BZD370,000 for institutional strengthening and capacity building, as well as supporting due diligence for climate risk assessment of sub projects. Between 2009 and 2016 CDB made BZD80 mn available to DFC in long term financing, half of which was approved in 2016. Peter Blackman, Portfolio Manager, Private Sector Development Unit, CDB stated, “Given the higher incidence of poverty in rural Belize, providing funds to DFC […]

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CDB funds USD30 million project to upgrade streetlights in Suriname

The Caribbean Development Bank (CDB) has approved a loan of USD30 million (mn) to the Government of Suriname, to replace that country’s existing high pressure sodium streetlights with high efficiency light-emitting diode (LED) systems. The replacement of the approximately 40,000 streetlights is expected to reduce energy consumption and costs as well as associated greenhouse gas emissions. “Street lighting is a substantial expense for the government of Suriname, accounting for over 30 percent of total electricity consumption. This project is expected to significantly reduce electricity consumption and emissions, with a corresponding reduction in expenditure. The introduction of energy-efficient streetlight and smart technology contributes to the government’s vision of establishing a modern, sustainable, affordable energy supply, leading to more energy security and international competitiveness,” said Daniel Best, Director of Projects, CDB. The project will be executed by utility company Energie Bedrijven Suriname (EBS). It will include the establishment of an advanced metering system, including the installation of 21,000 smart electricity meters. This will improve EBS’ operational efficiency, as the smart […]

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Planting a seed to shape the future of agri-business in Belize

For over 185 students in Belize’s Corozal District, an opportunity to test their green thumbs is creating a great deal of excitement.  A new state-of-the-art greenhouse constructed at the Escuela Secundaria Técnica México (ESTM) High School will be used to help students pursue increasing opportunities in the agri-business sector. It is part of a USD$512,000 enhancement project funded by the Caribbean Development Bank (CDB).

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