News


Sign up for Updates

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


CDB approves USD10 Million Line of Credit to Government of Grenada

There should soon be improved access to affordable financing for investments in Grenada’s productive sectors, as the Board of Directors of the Caribbean Development Bank (CDB) approved the provision of a US$10 million Consolidated Line of Credit to the Government of Grenada on Thursday December 10, 2015. The funds, which will be disbursed though the Grenada Development Bank (GDB), will be used to assist in improving Grenada’s human resource capacity, the viability of micro, small and medium-sized enterprises (MSMEs), housing stock for low and low-middle income families, as well as a pilot project to support Energy Efficiency/Renewable Energy (EE/RE) in MSMEs. Director of Projects at CDB, Daniel Best, noted that CDB is committed to facilitating development of productive and social sectors in all its Borrowing Member Countries (BMCs). “CDB views investment in strengthening human resources and capacity development as a core priority for the overall development of our BMCs, and our strategic objectives reflect this. We support inclusive and sustainable growth and development, environmental sustainability and improving access […]

More

CDB approves USD39.5m to upgrade water supply network in Barbados

water supply

In recent years, water outages have become more acute in Barbados, particularly in St. John, St. Andrew and St. Joseph in the north and east. With these outages, households and businesses have been disrupted and the most vulnerable—the aged, sick and disabled—put at risk. Water facilities, storage reservoirs and pipes require urgent repairs to adequately serve the population of Barbados. In addition, high electricity costs continue to impact negatively on the Barbados Water Authority’s (BWA) operations. On December 10, The Board of Directors of the Caribbean Development Bank (CDB) approved a loan of USD39.5 million to the Government of Barbados to help upgrade the country’s water supply network. The financing will provide the urgent help needed to tackle the issues of ageing infrastructure, increasing water outages and operational efficiency, which challenge the Water Sector in the country.  “Through the Water Supply Network Upgrade Project, we will help the Government of Barbados address some of the most pressing needs in the Barbados Water Sector. This financing will support the […]

More

CDB supports reforms in Technical and Vocational Education in St. Kitts and Nevis

youth in St. Kitts and Nevis

In St. Kitts and Nevis, there is an urgent need to address the critical shortage of skilled nationals and develop a sustainable, efficient and productive workforce. To help address this, the Government will access financing from the Caribbean Development Bank to implement the Technical, Vocational, Education and Training Enhancement Programme. On Thursday, December 10, the Board of Directors of the Caribbean Development Bank (CDB) approved USD8.3 million in financing to support the Government of St. Kitts and Nevis in enhancing its technical and vocational education system to improve national productivity, drive economic development and boost competitiveness. The Technical Vocational Education and Training (TVET) Enhancement Project aims to improve the quality, relevance and efficiency of the TVET system. “The TVET Enhancement Project will help narrow the gap between the demand for and supply of skilled labour. CDB is pleased to support the Government of St. Kitts and Nevis in reforming the technical and vocational education system, which is a key pillar in the country’s economic growth,” said Daniel Best, […]

More

CDB supports Improvements in Education in Grenada

Daniel Best, Director of Projects, Caribbean Development Bank

On Thursday, December 10, the Board of Directors of the Caribbean Development Bank (CDB) approved USD15 million in financing to support the Government of Grenada’s efforts to improve the quality of education and strengthen the national education system. By 2020, the Grenada Education Enhancement Project aims to improve the quality of the learning environment for approximately 25,000 students. It will train more than 1,600 teachers, principals and officers to enhance the quality, relevance and effectiveness of teaching delivered across Grenada. The project also addresses planning and management needs in the education sector. “We know that quality education is the cornerstone of economic and social progress. Our support of this project will not only help the Government of Grenada enhance its education system but it will also provide opportunities for Grenada to make substantial progress in transforming its economy, building a skilled workforce and becoming more competitive in a global context,” said Daniel Best, Director of Projects, CDB. The island has made remarkable advances in providing basic education to […]

More

CDB & UWI to develop curriculum on Gender Socialization for Early Childhood Development Practitioners

If gender inequalities in the Caribbean are to be successfully addressed, gender equality strategies must be incorporated in the educational system, beginning at the early childhood level. This includes training for early childhood development (ECD) practitioners on developing practices for gender sensitization in the early childhood setting. To address this, the Caribbean Development Bank (CDB), is collaborating with the University of the West Indies (UWI), School of Education, Cave Hill Campus to develop a programme on Gender Socialization for ECD Practitioners. The agreement was signed on Tuesday, December 15, 2015, at the University of the West Indies. Director of Projects at CDB, Daniel Best, said that the project is a strategic fit with CDB’s objectives. “Gender equality is a cross cutting theme of the Caribbean Development Bank and is actively dealt with and integrated in all our developments and initiatives. Accordingly it is with great pleasure that CDB is collaborating with the University of the West Indies, School of Education, Cave Hill Campus to address the need for […]

More

CDB supports Antigua and Barbuda financial sector reforms

A stable financial sector is central to sound economic growth, and a motivation for the approval of a policy based loan to the Government of Antigua and Barbuda by the Board of Directors of the Caribbean Development Bank (CDB) on December 10.

More

CDB provides Grant to reduce incidences of Gender-Based Violence in Grenada

In an effort to reduce incidences of Gender-Based Violence (GBV) in Grenada, the Board of Directors of the Caribbean Development Bank (CDB) approved a Technical Assistance Grant to the Grenada Community Development Agency (GRENCODA) to provide social and education programmes to address GBV in that country. The grant, which will be disbursed though the Legal Aid and Counselling Clinic (LACC), a project of GRENCODA, will be used to strengthen the capacity of the LACC to provide psychological and psychoeducational programmes, public education and the dissemination of best practices. CDB’s 2014 Country Gender Assessment (CGA) for Grenada revealed that there is significant statistical evidence of GBV, based on records kept by the Royal Grenada Police Force. Although LACC offers assistance to clients with a wide range of legal and social issues, GBV is reportedly the most prevalent issue requiring its services Division Chief, Social Sector Division, CDB, Deidre Clarendon, said that the Bank expects that this programme will have a great impact on incidences of GBV in Grenada, particularly […]

More

Regional Water Leaders Gather in Antigua for Summit

Participants in the 2nd Caribbean Water Leaders Summit

Findings from a 2013 Caribbean Development Bank (CDB) assessment show that electricity costs account for up to 40 percent of the annual operating budgets of some water and wastewater utilities in the Caribbean water sector.  Yet energy costs are among the most controllable operating expenses for water and wastewater utilities. Last week in Antigua and Barbuda, on December 2 and 3, 2015, 40 CEOs, investors and experts in the Water Sector gathered at the Second Caribbean Water Leaders Summit to discuss how to tackle energy challenges in regional water and wastewater utilities. They also explored opportunities and techniques for improving energy efficiency and shared lessons learned from their national operations through panel sessions, workshops and practical learning sessions. 40 CEOs, investors and experts in the Water Sector on the opening day of the Second Caribbean Water Leaders Summit held in Antigua and Barbuda, December 2-3, 2015. CDB and the Global Water Leaders Group co-hosted the event, along with the Antigua Public Utilities Authority, the Caribbean Water and Sewerage […]

More

Governments must integrate gender analysis in policy design and resource allocation

There is greater need for polices that increase productivity across the private sector, and which place special emphasis on women-owned businesses. This, as the results of an Inter-American Development Bank/Compete Caribbean study show that women-owned firms across the Caribbean are characterised by lower-levels of productivity than male-owned firms. The results were disclosed during a four-day workshop on Integrating Gender Analysis in Caribbean Trade and Economic Growth Programmes, hosted by the Caribbean Development Bank, CDB, at its headquarters in Barbados. Compete Caribbean is a private sector development program, and projects in the OECS countries are implemented in partnership with CDB. Speaking at the close of the workshop, Marsha Caddle, Operations Officer in the Technical Cooperation Division at CDB noted this has policy implications for governments. “We know that women-owned firms tend to suffer from lower levels of productivity than those of men, and we also know that women owners of firms tend to hire more women managers than do men. This has some policy imperatives – what are some […]

More