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CDB puts spotlight on Caribbean at high-level event on climate resilience

high-level event on climate resilience COP23

President of the Caribbean Development Bank (CDB), Dr. Wm. Warren Smith, on Tuesday welcomed the global community’s commitment to scale up support for climate risk management in the world’s most vulnerable countries. He was speaking during the United Nations Climate Change Conference (COP23) at a high-level event for leaders of international organisations, Ministers and insurance sector stakeholders.

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CDB implements revised education and training policy and strategy

The Caribbean Development Bank (CDB), in keeping with its view that investment in education is critical to sustainable development, has updated its Education and Training Policy and Strategy (ETPS). The revised ETPS is designed to improve learner outcomes and to produce a qualified, capable and representative workforce of diverse individuals. Further, it aims to reduce poverty and achieve inclusive social and economic development for the Region. Director of Projects at CDB, Daniel Best, said the revised ETPS takes into consideration the challenges CDB’s borrowing member countries (BMCs) continue to face and the issues on which the Bank must focus as it responds to these challenges. “The ETPS focuses on expanding capabilities to transform regional education systems to meet 21st century human resource needs, and places a strong emphasis on delivering results for learners,” Best said. “The ‘makeover’ of the Strategy also took into account how education systems are affecting diverse learners, the key competencies required to improve learner outcomes, and what works and within what contexts,” he added. […]

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CDB President: Protect countries’ fiscal stability in shift to clean energy

Two years ago, countries in the Caribbean Region committed to ambitious climate goals under the Paris Agreement. With support from institutions like the Caribbean Development Bank (CDB), many are making progress to mitigate the impact of climate change by beginning to shift to clean energy. However, international organisations that are promoting this transition must also guard against fiscal instability in small island developing states (SIDS). “In our efforts to help SIDs achieve specific renewable energy and energy efficiency targets, we must be mindful that we do not inadvertently create fiscally unstable situations in these countries.  In that regard, CDB has been facilitating the shift to sustainable energy by mobilising appropriately priced resources,” said Dr. Wm. Warren Smith, CDB President, speaking at the United Nations Climate Change Conference (COP23) on November 13 in Bonn, Germany. At the event, “How SIDS are Planning and Working on Achieving their NDC Targets”, Smith shared examples of partnerships the Bank had formed to mobilise investment grants for geothermal energy development and exploratory drilling […]

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EIB and CDB commit USD 24 million to post-disaster reconstruction in the Caribbean

The European Investment Bank (EIB) and the Caribbean Development Bank (CDB) have set up an emergency post-disaster reconstruction financing initiative to help the Region recover from recent hurricane events. The arrangement will support investments for infrastructure reconstruction projects in the Caribbean in the wake of the recent hurricanes. The new USD 24 million financing package is an addition to the USD 120 million Climate Action Framework Loan II signed in May this year, and which remains the EIB’s biggest loan to the Caribbean. Eligible investments under the new loan will include infrastructure reconstruction, with a focus on “building back better” and integrating climate risk and vulnerability assessments into the projects. This will help reduce the Bank’s Borrowing Member Countries’ vulnerability to future natural disasters and worsening climate change impacts. As well as infrastructure, financing to communities for low-carbon and climate-resilience measures such as improved water resource management are also foreseen. CDB President Wm. Warren Smith and EIB Vice President responsible for Climate Action, Jonathan Taylor, signed the new […]

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CDB to promote resilient recovery, climate action for the Caribbean at UN Climate Change Conference

A delegation from the Caribbean Development Bank (CDB) has arrived at the United Nations Climate Change Conference (COP23) in Bonn, Germany. While at the event, which runs until November 17, the Bank will join other regional stakeholders in reiterating the urgent need for climate action and resilient recovery in the Caribbean. Against the backdrop of this year’s devastating hurricane season, CDB will also underscore its commitment to mobilising highly concessionary resources for regional countries to tackle the impacts of climate change. “We are pleased to add our voice to the global conversation on climate action, given the vulnerability of the low-lying and coastal states in the Caribbean Region. At COP23, our priority is to continue to draw attention to the very real challenges our small states are facing as a result of climate change; to strengthen partnerships to combat those challenges; and to further engage stakeholders as our Region seeks to ‘build back better’,” said Dr. Wm. Warren Smith, President of CDB. While in Bonn, the Bank will […]

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Changing lives through water: the Belize River Valley story

For many years, residents of the Belize River Valley depended primarily on the Belize River as their main water source. Women would spend long hours by its banks, washing and drying their laundry, and children would have to help ferry water from the river to their homes, all before the start of school. Alternative water sources included creeks, and hand-dug wells, while rainwater catchments and bottled water were the primary sources for drinking water. In 2015, this situation changed for approximately 2,000 residents of the Belize River Valley. A project funded by the Caribbean Development Bank (CDB), and implemented by the Belize Water Services (BWS) in partnership with the Government of Belize, has brought running, potable water to the community’s households. Yvonne Hyde, CEO, Ministry of Economic Development, Belize says that improving access to basic services in Belize’s rural areas has been one of the Government’s priorities. “It was felt that in providing potable water to these nine villages in a rather remote area of the country that […]

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Partnering to enhance Climate Risk Management and improve resilience in Belize

The Government of Belize, with the support of the Caribbean Development Bank (CDB), is stepping up its climate change adaptation efforts.  Belize’s Social Investment Fund (SIF), an implementing agency of the Government addressing the basic needs of the country’s most vulnerable, has set in motion plans to incorporate Climate Risk Management in its National Project Development Process.

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Event in Barbados marks closeout of EU-funded regional integration programme

Regional integration through the CARICOM Single Market and Economy (CSME) is still the most efficient way for countries in the Caribbean to overcome the challenges posed by size, scale and limited capacity in the global markets, says Monica La Bennett, Vice-President (Operations), Caribbean Development Bank (CDB). She was speaking at the opening of the recently held two-day closeout workshop for the Economic Partnership Agreement (EPA) and CSME Standby Facilities for Capacity Building. “Here in the Caribbean, factors such as small size, limited capacity, persistent vulnerability to natural disasters, high energy costs, infrastructure gaps, and institutional and regulatory weaknesses make it difficult for our borrowing member countries to build the type of competitive advantages that could lead to economic diversification and sustained growth. Today in 2017 regional economic integration is still the most viable and logical developmental response to a persistently complex, intense and unpredictable globalised environment,” said La Bennett. In December 2012, CDB and the European Commission signed Contribution Agreements for the implementation of the EPA and CSME […]

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