News


Sign up for Updates

Sign up to receive emails when new releases have been added to this page.


Sixteen regional professionals earn Certified Energy Manager designation

Sixteen men and women from around the Caribbean Region are now designated certified energy professionals, having participated in the Regional Certified Energy Manager (CEM) Training Programme and successfully passed the CEM examination. The Programme took place in Barbados in May 2018 with assistance from the USAID Caribbean Clean Energy Program (CARCEP), and the Caribbean Development Bank (CDB) through the Canadian Support to the Energy Sector in the Caribbean Fund, in partnership with the Barbados Renewable Energy Association (BREA). The Jamaica Society of Energy Engineers delivered the Training Programme and administered the exam. Part of the cohort join CDB and BREA representatives for a photo opportunity at CDB’s Headquarters in Barbados on July 27, 2018. The successful participants represent seven countries:  Barbados, Grenada, Guyana, Jamaica, Saint Lucia, St. Vincent and the Grenadines, and Trinidad and Tobago. These countries will now benefit from an increase in the number of internationally certified energy practitioners towards   creating a sustainable energy future and meeting their nationally determined contributions (NDCs). NDCs are the targets […]

More

CDB approves funding to enhance Guyana’s transportation sector

Georgetown, Guyana - Stabroek Market

The Board of Directors of the Caribbean Development Bank (CDB) has approved funding in the amount of USD4.4 million (mn) to help Guyana enhance its transportation sector, and support the development of interior communities. The funds will be used to finance feasibility studies and designs for the upgrade of the Lethem aerodrome, and the construction of a new bridge at Wismar and a new riverine transport terminal at Parika. “An effective transportation sector is essential for sustainable growth and development, as it connects people to the supply and distribution of goods. The proposed enhancements to the transportation sector in Guyana will cover road, air and river transport, providing opportunities for business development and enhanced employment,” said O’Reilly Lewis, Division Chief, Economic Infrastructure Division, CDB. The selected sites are all considered to be priority areas for improvements by the Government of Guyana. The Mackenzie-Wismar Bridge was constructed 51 years ago, and includes just one lane. On average, approximately 3,000 vehicles cross the bridge daily, which results in traffic congestion. […]

More

CDB project on climate resilient road transport sector expanded to include Dominica

The Board of Directors of the Caribbean Development Bank (CDB) has expanded the scope of an ongoing road transport project to include Dominica, given the devastation caused by Hurricane Maria in 2017. The Hurricane had a major impact on transportation infrastructure in the Eastern Caribbean country, including damage to bridges and culverts from water-borne debris, blockage of drainage structures, landslides and the erosion of unpaved roads. The project seeks to strengthen the capacity of the Bank’s Borrowing Member Countries (BMCs) to provide road infrastructure that is resilient to natural hazards and climate change impacts. It consists of a study on approaches for mainstreaming climate resilience into the road transport sector in BMCs, as well as the piloting of these approaches in three countries—Guyana, Saint Lucia, and now Dominica.  “Hurricane Maria caused damage and losses of over USD200 million to the road transport sector in Dominica. This resulted in the loss of access to agricultural lands, local markets and ports, and the linkages needed for other critical social and […]

More

ITC and CDB announce scaled-up partnership

The International Trade Centre (ITC) and the Caribbean Development Bank (CDB) have announced that they are scaling up their partnership to strengthen support for businesses across the Caribbean Region. The announcement was made by CDB President, Dr. William Warren Smith and ITC Executive Director, Arancha González during a meeting at CDB’s headquarters in Bridgetown, Barbados on July 27.

More

CDB to evaluate its work in up to 11 Borrowing Member Countries

The Caribbean Development Bank (CDB) is preparing to conduct an evaluation of the work it did in up to 11 of its Borrowing Member Countries (BMCs) between 2005 and 2017. The countries make up the Organisation of Eastern Caribbean States (OECS) and Overseas Dependent Territories (ODTs). The Country Strategy and Programme Evaluation (CSPE) is scheduled for completion by mid-2019, and is a tool used by multilateral development banks to assess and interpret past performance, and provide forward-looking conclusions and recommendations. Through country strategies, often presented in Country Strategy Papers, CDB identifies where and how it can provide support in a results-oriented manner to achieve a country’s development objectives and poverty reduction goals. Strategies are developed in consultation with governments, development partners and other stakeholders. “The Country Strategy and Programme Evaluation will assess performance with respect to the relevance, effectiveness, efficiency and sustainability of the portfolio of loans and technical assistance provided to the countries that make up the OECS and the ODTs,” said James Melanson, Head of the […]

More

CDB approves USD9.3 mn loan to Anguilla to support reform programme

The Board of Directors of the Caribbean Development Bank (CDB) has approved a USD9.3 million (mn) loan to the Government of Anguilla, to implement a reform programme that aims to restore fiscal sustainability and enhance resilience against natural disasters. Anguilla is highly vulnerable to natural disasters, and since 1995, the island has been affected by eight named hurricanes. Following the passage of Hurricane Irma in 2017, Anguilla suffered damage and losses that were estimated at approximately 97 percent of GDP. The country is also heavily reliant on tourism, and the effects from Hurricane Irma have led to the closure of hotels and restaurants, causing significant unemployment and income losses. The loan from CDB is the first of a series of three proposed policy-based loans, which will support Anguilla’s three-year reform programme to restore fiscal stability and build resilience, in order to promote and sustain economic recovery and growth. This first loan supports initial reforms under the government’s Medium-Term Economic and Fiscal Plan. “This policy-based loan, which is the […]

More

CDB, partners kick off project to support micro and small enterprises in Haiti

A project has been launched to give female and male entrepreneurs in Haiti better opportunities to grow their businesses.  The Caribbean Development Bank (CDB), Inter-American Development Bank, Global Affairs Canada and Desjardins International (DID) of Canada have partnered to increase access to business loans, saving products, and services for micro and small enterprises (MSEs) in Haiti.  The project, launched on June 17, will support Le Levier Fédération—a network of savings and credit cooperatives— in establishing a specialised MSE Finance Unit. Peter Blackman, Portfolio Manager and Guillermo Aguilar Rios, Operations Officer of the Private Sector Development Unit at CDB visited Haiti to participate in the launch of the project.  The Bank’s funding will specifically focus on underserved and unserved MSEs on the island. “Providing credit and savings support for MSEs will contribute to enterprise growth and sustainability, while improving the living and economic conditions of several rural householders in Haiti, who otherwise would experience financial exclusion” said Blackman.  The new unit to be established under the project will follow the Affiliated […]

More

CDB, PAHO train regional mental health professionals to respond in the aftermath of a natural disaster

As the Region prepares for possible impacts from the 2018 Atlantic Hurricane Season, the Caribbean Development Bank (CDB) and the Pan American Health Organization (PAHO) have embarked on a project to build resilience and psychosocial support across the Caribbean. Over the period July 9 to 12, mental health professionals from across the Region will attend a Training-of-Trainers workshop at PAHO’s offices in Barbados. The objective is to establish a roster of persons who can be mobilised to affected countries in the event of a natural disaster, to provide mental health and psychosocial support. In addition, participants will be provided with the tools to conduct additional training in their home countries. Speaking at the opening ceremony on July 9, Daniel Best, Director of Projects, CDB, said that while recovery and rehabilitation efforts have typically focused on infrastructure, there is a need to prepare populations to better cope with natural hazards by focusing on mental health and psychosocial well-being. “As participants of this workshop you will be trained in tools […]

More

CDB to construct new office building in Barbados

Office building at CDB's Headquarters in Barbados

The Caribbean Development Bank (CDB) has announced that it will construct a new office building in Barbados, redeveloping the current site of its headquarters at Wildey, St. Michael. The project, approved by the Bank’s Board of Directors in December 2017, will provide adequate accommodations for the CDB’s current and projected staff complement, and integrate environmental sustainability considerations.

More

In Jamaica, boosting climate resilience and food security through aquaponics

Participants take a break from their training for a group photo. Twenty-four trainers in Jamaica’s agriculture sector are now better equipped to assist small and medium-scale farmers with building resilience to current and future effects of climate change.  This follows the completion of a train-the-trainers workshop on May 3, 2018, which the Caribbean Development Bank (CDB) funded to support aquaponics agri-business enterprises on the island. The three-day workshop complements a multi-year project in collaboration with INMED Partnerships for Children and the Inter-American Development Bank’s Multilateral Investment Fund (IDB/MIF). The initiative seeks to implement an agri-business development programme, focused on making aquaponics a commercially viable technology for small and medium-scale farmers, and provide them with the technical and business skills needed to successfully manage a commercial-scale aquaponics farm. In addition, the programme focuses on improving linkages with consumers and financial institutions. “By training the trainers, we are ensuring the sustainability of this critical project,” said Lisa Harding, Coordinator, Micro Small and Medium Enterprise Development, CDB.  “The agriculture sector employs […]

More