News


Sign up for Updates

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


MSME Ceramic and Pottery Producers in Guyana to Benefit from Training by CDB’s CTCS Network

Beginning May 26, 2015, the Caribbean Development Bank’s (CDB) Caribbean Technological Consultancy Services (CTCS) Network will conduct a three-week workshop on ‘Modern Techniques for Mould Design and Manufacturing for Ceramic and Pottery Producers’ in Guyana. The workshop targeting Micro, Small and Medium-sized Enterprises (MSMEs) involved in ceramic and pottery production aims to equip producers to meet the increasing export demand for ceramic and pottery products from Guyana. Approximately 30 MSMEs will benefit from this initial training to be facilitated by experienced potter, Mr. Robert Campbell of Hands in Clay Jamaica Ltd. Over the three-week period participants will be exposed to a range of topics including learning how to make two-part moulds, the incorporation of Amerindian symbols into their work, jewellery design and stamp moulds to reproduce jewellery parts, as well as glazing techniques and acrylic finishes. Edward Greene, Division Chief, Technical Cooperation Division, CDB notes, “Through this workshop, we aim to increase the knowledge of Guyana’s ceramic and pottery producers on modern techniques so that they may improve […]

More

CDB’s 45th Board of Governors Meeting ends with pledge to fight poverty more creatively

The continuing impact of poverty and high unemployment on the Region emerged as one of the key areas of concern for Governors of the Caribbean Development Bank (CDB) who wrapped up the 45th Annual Meeting of their Board today. This was disclosed by President of the Bank, Dr. Warren Smith, as he gave the customary report on the meeting’s deliberations during the closing ceremony. Dr. Smith stated that seven broad themes emerged from the discussions: poverty reduction; private sector development; strengthening internal processes; membership in CDB; innovative financing modalities; partnerships and collaboration; and refueling Caribbean integration. But he noted that the strongest point arising during the discussions was that poverty remains a fundamental development challenge. “Many Governors voiced concern about high and rising unemployment, and relatedly, the unacceptably high rates of poverty in many of our BMCs.  Our Region’s youth, facing much higher rates of unemployment than the adult labour force, is particularly at risk in this environment,” Dr Smith said. “Part of the solution requires that we […]

More

Jamaica to chair CDB Board of Governors 2015-2016

Jamaica’s Minister of Finance, Dr. Peter Phillips assumed the chairmanship of the Caribbean Development Bank’s Board of Governors today as the 45th Annual Meeting of the Bank’s Board ended in Basseterre, St. Kitts. The CDB’s 46th Annual Meeting is set for May next year in Jamaica. He replaces Dr. Timothy Harris, Prime Minister of St. Kitts and Nevis. Speaking at today’s closing ceremony, Dr. Phillips said each Caribbean country was faced with formidable challenges, among them the effects of climate change, high indebtedness, tight fiscal space and low rates of saving. He also said the consequences of the recent Great Recession were still being felt among the small, vulnerable states of the region. The incoming chairman noted that because Caribbean countries had been classified as Middle Income States, it was unlikely that they would be considered for significant debt relief by multi-lateral agencies and developed countries, notwithstanding the heavy debt burden they were carrying. Yet without some form external economic support, he said, small island states would be […]

More

St. Kitts PM calls for more integrated approach to region’s challenges

Chairman of the Board of Governors of the Caribbean Development Bank, Dr. Timothy Harris, Prime Minister of St. Kitts and Nevis, has suggested that Caribbean countries should take a fresh look at a more integrated approach to tackling the region’s development challenges. Speaking at the opening ceremony of the 45th Annual Meeting of the Board of Governors of the Caribbean Development Bank (CDB), he proposed what he called an integrated regional approach to the production and distribution of alternative energy, be it blue or green energy. “Wouldn’t it be a game changer if the Caribbean assumed leadership in alternative energy export? That would have enormous implication for the cost of doing business and development in the region? A leadership role here will do wonders for our competitiveness. Imagine a new OECS space with St Kitts and Nevis, Dominica, and Grenada, leading in geothermal energy for the sub-region, Puerto Rico, the French overseas territories and southern islands.” The results he said would be new jobs, new skills, new source […]

More

CDB study proposes multi-pronged thrust to cut high regional youth unemployment

A new Caribbean Development Bank (CDB) study has proposed a comprehensive, multi-sectoral approach to tackle chronic youth unemployment in regional territories. The Study is entitled “Youth are our Future: The Imperative of Youth Employment for Sustainable Development.” The study, which was presented today at the 45th Annual General Meeting of the CDB’s Board of Governors in St Kitts and Nevis, May 20-21, was conducted within a framework that seeks to promote sustainable employment, especially for youth, guided by the International Labour Organisation’s (ILO’s) Decent Work Agenda and the UN’s Sustainable Development Goals. Key elements of these global agendas relevant to Caribbean region are creating jobs; social protection; skills for employment and entrepreneurship; and promotion of active participation in the labour market. The definition of youth adopted for the study is 15-24 years of age, although the impact of unemployment on those up to age 29 is also analysed. The study draws on a wide range of research at the regional and international levels and examined policies implemented in […]

More

Focus more on TVET in schools – CDB study

Specific challenges of giving youth the right training and tools for the labour market were examined in a Caribbean Development Bank (CDB) study presented today at a seminar at the 45th Annual General Meeting of the CDB’s Board of Governors in St Kitts and Nevis, May 20-21. The report, entitled “Youth are the Future, the Imperative of Youth Employment for Sustainable Development in the Caribbean,” notes that while TVET was generally widespread in the region and received attention at the level of CARICOM, with the governing body being the CXC, it was seen at times as a last resort in terms of obtaining qualifications by those who were not ‘academically minded’. The implementation of technical and vocational training and entrepreneurship that is currently provided after leaving secondary school should be integrated within the curriculum, with links to private enterprises, and students guided to certain areas by career education. Such an approach would ensure that young people leaving secondary school would have an understanding of the needs and expectations […]

More

CDB provides support to the Creative Industry through training in Intermediate Leather Craft to Arts and Craft Producers in St. Kitts and Nevis

The Caribbean Development Bank (CDB), through the Technical Cooperation Division, and in collaboration with the Small Enterprise Development Unit, Nevis, is conducting a two-week training workshop: “Intermediate Leather Craft for Arts and Craft Producers in St. Kitts and Nevis”. This workshop is utilising the network of the Caribbean Technological Consultants Services (CTCS). Fifteen (11 women and 4 men) Arts and craft producers are participating in the workshop which is being held at the St. Paul’s Anglican Church Hall in Nevis during the period May 11-22, 2015. The two-week hands-on training workshop focusses on, but not limited to, the following: • tools and materials employed in leather craft production; • dye technology applied to leather craft; • use and application of leather and other materials; • execution of the dye process and the use of colours for product enhancement; • development of advanced designs and variations; • processing and handling procedures necessary to obtain design duplication; • handling of materials after processing; • current fashion trends and its influence […]

More

Great opportunities for Caribbean logistics expansion: Governments must be creative and proactive – Prof Gordon Shirley

Caribbean governments must act quickly to implement appropriate regulatory policies, offer more economic and legislative incentives, improve co-operation among their territories and be more pro-active, if they are not to miss out on current opportunities in the transshipment and logistics hub business. That’s the perspective presented by President and CEO of the Port Authority of Jamaica, Professor Gordon Shirley as he delivered the 16th William G. Demas Memorial Lecture at the Eastern Caribbean Central Bank, Basseterre, St Kitts, Tuesday, May 19. The lecture is one of the highlights of the 45th Annual Meeting of the Board of Governors of the Caribbean Development Bank (CDB) taking place in St. Kitts this week. Citing the examples of Singapore and Panama, which have well-developed transshipment hubs and are still expanding, he said while geography was important and a key attractive component to potential investors, equally important are the policies they have implemented and the economic environment they offer. “Stable macroeconomic policies, sustained investment in logistics infrastructure and a globally competitive micro […]

More

CDB Launches Regional PPP Support Facility

The Caribbean Development Bank (CDB), in cooperation with its development partners the World Bank, the Inter-American Development Bank, Multilateral Investment Fund, and the Public Private Infrastructure Advisory Facility, has established a USD1.2 million Regional Public-Private Partnerships (PPP) Support Facility, based in its Barbados headquarters. Given the high infrastructure needs and severe fiscal challenges faced by countries in the Region, policy-makers are increasingly turning to PPPs, as a means of delivering infrastructure services. Regional governments would therefore benefit from receiving practical assistance in adopting sound PPP policies, and advisory assistance to implement projects. PPPs are still relatively new to the Caribbean. Over the past ten years, some PPPs have been successfully implemented, delivering high-quality infrastructure facilities and providing value for money to both governments and consumers alike. However, in many cases the complexity of the transaction process – and lack of capacity within governments – has meant long delays in delivering projects; many of which languish for years and ultimately fail to launch. With support from its multilateral development […]

More

More aggressive business-friendly reforms needed: CDB president renews call for Global Partnerships

President of the Caribbean Development Bank (CDB), Dr. Warren Smith is urging regional governments to set aggressive timelines for implementing reforms that create more “business-friendly” environments. Speaking at the official opening of the 45th Annual Meeting of the Board of Governors of the CDB in Basseterre, St. Kitts, Dr. Smith said fiscal rules, backed by tough legislation, must become the norm rather than the exception, adding that the building of fiscal buffers should also become an integral component of every national sustainability strategy. In his overview of the CDB performance over the past year, Dr. Smith noted that the CDB had continued its own internal reforms to aid BMCs address longstanding social and economic challenges. Among them, modernisation and strengthening of the Bank’s governance framework were key areas for reform. “Such institutional arrangements are already a pre-condition for access to certain types of financing…and are likely to become a standard pre-condition for access to all development financing. Should this prove to be the case, CDB will be in […]

More