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CDB to Fund Upgrade of the Bahamas Technical and Vocational Institute

The Bahamas Technical and Vocational Institute (BTVI) is to get a state of the art upgrade that will allow it to serve a larger number of students and deliver higher quality programmes. Set to be launched in the latter part of 2015, the upgrade will also enhance BTVI’s outreach to support targeted skills development needs in the construction trades in the Family Islands of Abaco, Andros, Bimini and Eleuthera. Funding for the project, of USD4.74 mn, was approved by the Board of Directors the Caribbean Development Bank (CDB) on December 11. The project is in keeping with the Government of the Commonwealth of the Bahamas’ view that an enhanced, responsive technical vocational education and training (TVET) sub-sector is a critical transformational factor for economic competitiveness and social cohesion. As the primary TVET institution in The Bahamas, the development of BTVI is central to workforce development in the country and its continued transformation as a high quality and accredited training provider is important for economic competitiveness.  BTVI will be […]

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CDB Loan to Fund New Schools, Improved TVET Training in Suriname

New school buildings, improved access to technical vocational education and training (TVET) for girls; and higher quality service delivery are among the expected outcomes of the first project approved for funding to the Republic of Suriname by the Board of Directors of the Caribbean Development Bank (CDB) on Thursday, December 11. Valued at USD21.94 mn  the project is part of Phase Two of a programme of enhancement commenced by the Government of Suriname in 2011, to ensure that all students at the lower secondary school level (LSS) participating in TVET have access to skills development, as well as additional pathways for advancement in the education system. To support this, the loan will cover costs of constructing eight Practical Instruction Centres, and residential accommodation for seven teachers; as well as the provision of furniture, equipment and instructional resources. A portion of the loan will be used for consultancy services to prepare detailed designs and supervise the construction of these facilities. The loan also provides for: the revision and development […]

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Jamaica Gets USD35 Loan from CDB to Assist in Improving Debt Dynamics

Efforts by the Government of Jamaica to reform the country’s economy by promoting sustainable growth and lifting per capita income are to be further supported by a USD35 mn Policy Based Loan (PBL) from the Caribbean Development Bank (CDB).  A PBL is a special product from the Bank which offers resources at extremely low interest rates. Jamaica is currently in an extended fund facility with the International Monetary Fund and has performed well with five successful reviews, a return to positive growth and a reduction in unemployment. The PBL, which was approved by CDB’s Board of Directors on Thursday, December 11, 2014, will help to improve Jamaica’s debt dynamics by lowering the average effective interest rate on the debt stock. The reforms on which the PBL disbursement would be based are: Fiscal consolidation, Growth and competitiveness, and Social protection. These reforms are geared towards the achievement of fiscal and debt sustainability; improving the environment for doing business in an effort to achieve sustainable growth rates of around 2 […]

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CDB Board approves loan to Barbados for enhancement of immigration department

The ability of the Immigration Department in Barbados to function effectively will be greatly enhanced by a loan of USD6.474 mn from the Caribbean Development Bank (CDB).  The loan was approved by the Bank’s Board of Directors on Thursday, December 11, 2014. Among the priorities identified by Government of Barbados as part of its Medium-term Growth and Development Strategy (MTGDS) 2013-2020 are: “enhanced international competitiveness, national productivity; efficiency and service excellence” and “more modern and efficient public and private sector institutions. In keeping with that focus, the loan will provide for: the retrofitting, furnishing, and equipping of sections of the Princess Alice Highway Car Park Complex into new offices for the Immigration Department; information technology systems upgrade; legislative reform and institutional strengthening including organisational assessment; and training in operations and client centred approaches to service delivery. The Project forms part of the reform of the immigration services currently being executed through a Compete Caribbean 2 programme, and was initiated by the recommendations of the Diagnostic Report which was […]

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CDB grant to further develop Vieux Fort, St. Lucia water supply systems

The way is now clear for the next step in a collaborative process between the Caribbean Development Bank (CDB) and the Government of St. Lucia which will bring a reliable supply of potable water to over 19,000 people residing in the town of Vieux Fort. CDB’s Board of Directors on Thursday, December 11, 2014, approved a loan of USD19.675 mn for the redevelopment of the town’s water supply system, a project that will cost an estimated USD24 mn. The project will provide an efficient, reliable, climate resilient and sustainable supply of potable water to Vieux Fort and its environs by December 31, 2018. Included in this will be the provision for 15 kilometres of new transmission mains and three new pumping stations. There will also be a treatment plant consisting of sedimentation tanks and rapid dual-media filters and chlorination facilities, as well as three new storage reservoirs totalling 4,000 cubic metres. CDB will also provide a grant of USD335,000 to assist in financing consultancy services for capacity building […]

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CDB approves loan for solid waste management improvement and recycling project in Grenada

The Caribbean Development Bank (CDB) is providing a loan of USD10.7 mn to the Government of Grenada to finance a project to improve and sustain integrated solid waste management in that country. The loan was approved by the Bank’s Board of Directors on Thursday, December 11, 2014. The Project includes the supply of equipment, the development of action plans, and a programme to build awareness of appropriate waste management practices. A major component of the project will include further development of the Perseverance Landfill which was commissioned in 2001. Works will comprise cell development, as well as the closure of original cells at this facility. The old dumpsite at Perseverance will also be closed and new sanitary facilities be provided for people who derive their livelihood from recycling activities at the dump. CDB will also provide a grant of USD300,000 to finance the institutional strengthening of the Grenada Solid Waste Management Authority. Adequate waste management is crucial in economic terms to Caribbean economies because of heavy dependence on […]

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USD10mn set aside for eighth cycle of CDB’s Basic Needs Trust Fund

The Board of Directors of the Caribbean Development Bank (CDB) has approved USD10 mn from the Special Development Fund for the eight cycle of the Basic Needs Trust Fund (BNTF 8). This decision was made at the 264th meeting of the Board, held Thursday, December 11 at the Bank’s headquarters in Barbados. Belize, the Commonwealth of Dominica, Grenada, the Cooperative Republic of Guyana, Jamaica, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, and the Turks and Caicos Islands are the countries within the CDB membership which participate in the Fund. The governments of these countries will provide counterpart funding of USD546,000. Key emphases of BNTF 8 will be: improved access to quality education; human resource development; water and sanitation; basic community access and drainage enhancement in low-income, vulnerable communities. There has also been a progressive shift from a focus on infrastructure development managed by central government, to community managed sub-projects.  Increased investments have been made to improve basic infrastructure and services and increase the […]

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Residents of Belize’s western district welcome new preschool facilities

Access to quality preschool education is no longer simply a dream, but a reality for parents and guardians of children in the San Ignacio/ Santa Elena area in Belize. On December 5, 2014, the Government of Belize officially opened the Arms of Love Preschool in Kontiki to serve residents of the Kontiki, San Ignacio and Santa Elena areas. The newly built school which will cater to approximately 38 students, boasts of an open classroom area, students’ bathroom facilities, teachers’ lavatory facilities, storage space, a kitchenette and an access ramp. Constructed at a total cost of USD133,136 through a loan from the Caribbean Development Bank’s Community Investment Programme, the project  was implemented by the Belize Social Investment Fund (BSIF). The project complements the Government of Belize’s poverty-reduction strategy, particularly its efforts to provide access to basic educational facilities across Belize. CAPTION: The children were very happy with their new facilities.

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Over 2,500 residents to benefit from enhanced medical facilities

Residents of Clare Valley, Chauncey, Rillan Hill and Questelles in St. Vincent and the Grenadines now have greater access to quality primary health care services, free of charge, thanks to the refurbishment of the Clare Valley Clinic by the Government of St. Vincent and the Grenadines and the Caribbean Development Bank’s (CDB) Basic Needs Trust Fund (BNTF). The Clinic was officially opened on December 4, 2014 by Prime Minister, Dr. The Honourable Ralph E. Gonsalves. Renovated at a cost of USD174,000, Clare Valley Clinic offers a range of services including: emergency care, maternal and child health, puerperal visits, family planning, chronic disease clinics, and HIV counseling services. Upgrades included a roof replacement, the creation of larger examination and doctors’ consultation rooms, improved sluice and laundry area, improved ventilation, enhanced patients’ waiting areas, an asthma bay, and a larger pharmacy. In addition, the nurses’ quarters was refurbished, the external water storage replaced and the perimeter fence upgraded. The Clare Valley Clinic is one of several large infrastructure and educational […]

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CDB’s BNTF Programme celebrates 35 years of assisting poor and vulnerable communities

“Thirty-five years ago, the CDB Board of Directors approved the first allocation of funds to the Basic Needs Trust Fund (BNTF), a major poverty reduction program managed by the Social Sector Division in the Bank. Back in October 1979, when the first BNTF allocation of USD6.7 mn was approved for seven borrowing member countries (BMCs), we had no idea that almost four decades later, the program would have touched the lives of some two million people in the region to date and become a major engine of the Bank for poverty reduction. BNTF’s total funding through eight cycles of the program is almost USD300 mn, including the government counterpart contribution.  CDB ensured a steadfast presence by BNTF in the BMCs. During the periods of structural adjustment, fiscal constraints and weak growth, BNTF was able to help meet basic needs, add value and strength to communities, and change lives of women, men, and children.  We are proud to celebrate 35 years of BNTF in the region this month. Initially, […]

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