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Grenada Education Loan

October 14, 2009No. 26/09 – BD NEWS RELEASE                                                                      GRENADA EDUCATION LOAN APPROVED  The Government of Grenada is to receive financial assistance from the Caribbean Development Bank (CDB) for a project to improve the quality and effectiveness of basic education in Grenada.   CDB has approved a loan equivalent to USD 5 million and a technical assistance grant equivalent to USD 60,000 to the Grenada government for the schools rehabilitation and reconstruction project.  This project has the specific objective of enhancing the learning and teaching environment through reconstruction and expansion of facilities at one primary school and three secondary schools in Grenada.  It will also facilitate the teaching of the full secondary school curriculum. Two thousand children and 125 teaching and non-teaching staff members, who are now housed in inadequate temporary facilities, stand to benefit from improved accommodation.  In addition, approximately 500 teachers will benefit from professional development training.  The Ministry of Education and Human Resource Development will be the executing agency for the project, which will see among other things, the construction […]

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CDB BOG Annual Meeting

May 20, 2010 No. 23/10-BG CDB BOARD OF GOVERNORS CONCLUDE ANNUAL MEETING  President of the Caribbean Development Bank (CDB), Dr. Compton Bourne, is suggesting that while the International Monetary Fund is projecting real GDP growth for the Caribbean of 1.5% in 2010, and 4.3% in 2011, “it is advisable to be cautious about such an optimistic outlook for 2011.”  Dr. Bourne said that “asset markets remain depressed and personal sector credit is less accessible.  This situation portends slower economic recovery in the Caribbean.” He made these comments in his Annual Statement to CDB’s Board of Governors at the Fortieth Annual Meeting, which has just concluded in Nassau, The Bahamas.  The Statement was entitled was entitled “The Caribbean Development Bank at Forty”. Dr. Bourne reviewed the progress which the institution has made since the last occasion on which the meeting was held in The Bahamas in 2000.  Among other things, he pointed to strengthening of relations with member countries and other multi-lateral financing institutions.  He said that CDB had become a more cost-efficient […]

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Grant for Meteorological Data

May 23, 2011 No. 18/11-BD CDB TO PROVIDE GRANT FOR DIGITIZING METEOROLOGICAL DATA    The Caribbean Development Bank (CDB) will provide the Caribbean Institute for Meteorology and Hydrology (CIMH) with a grant equivalent to USD 291,500, lending its support to a project which will help its borrowing member countries address disaster risk reduction and climate change adaptation issues.   This financing will allow CIMH to rescue and digitize historic meteorological and hydrological datasets, and to establish an electronic database to securely archive the data.  It will also facilitate the access and exchange of data between the Institute and its member countries.  An electronic hydro-meteorological database archived at CIMH will allow it to better fulfil its mandate to its member countries. The grant will finance activities that include short-term specialised consultancy services for data rescue, design, population and maintenance of the database, initial IT operational support and the purchase of the required hardware and software. CIMH was formed in 1987 with the amalgamation of the Caribbean Meteorological Institute and the Caribbean Operational Hydrology Institute, […]

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News Release 16/12-BD

March 7, 2012 No. 16/12-BD CDB BOARD APPROVES ACCEPTING UK FUNDS FOR REGIONAL RESILIENCE DEVELOPMENT PLAN   The Board of Directors of the Caribbean Development Bank (CDB) have given approval for the Bank to accept a contribution of £4,950,308 in International Climate Fund (ICF) monies from the United Kingdom Government to support a regional programme to build resilience to climate change and disasters.  Specifically, the funds will be used to support of priority actions in the Caribbean Community (CARICOM) Regional Framework for Achieving Development Resilience to Climate Change implementation plan.    This plan will strengthen the regional institution’s ability to support national level adaptation as well as Caribbean participation in global negotiations.  It will also help some of the most vulnerable communities to withstand the impacts of climate change and variability. The Caribbean has been assessed as a priority for immediate ICF adaptation attention, based on the Region’s vulnerability, its capacity to implement, political will and country coverage. CDB will administer the funds, while he Caribbean Community Climate Change Centre will implement the programme. 

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Regional Associate Degrees

 NO. 30/08-BDOctober 30, 2008 HARMONISATION EFFORTS FOR REGIONAL ASSOCIATE DEGREES GETS CDB SUPPORT  Efforts to strengthen coordination among tertiary level institutions in the Region by harmonising relevant curricula for Associate Degree programmes are to receive financial assistance from the Caribbean Development Bank (CDB). The Bank is to provide a grant equivalent to USD250,000 to the Association of Caribbean Tertiary Institutions Incorporated (ACTI) to advance preliminary work already accomplished in promoting accreditation, equivalency and articulation among tertiary level institutions in CDB’s borrowing member countries. This project is in response to the growing need for a greater fit between the training needs of the Caribbean economy and society, and the programmes available at regional tertiary level institutions.    Programme articulation through the harmonisation of curricula will facilitate one of the major tenets of the CARICOM Single Market and Economy – the free movement of specified categories of workers within the Region.  

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16th March

 CDB to Invest in Regional SME Development Company The Caribbean Development Bank (CDB) is to invest in Caribbean SME Development Network Limited (SME DevNet), a company which provides financial support to small and medium-sized enterprises (SMEs) in the region. The Bank is to use up to USD143,000 from its Private Sector Fund to buy shares in the company. Approval for the equity investment was given at a meeting of CDB’s Board of Directors held at the Bank’s Headquarters in Barbados, on Thursday, March 9, 2006.SME DevNet provides start-up capital for innovative technology ventures, and makes equity investments in small enterprises and in small venture funds that invest in SMEs in the Eastern Caribbean, Guyana and Suriname. It also provides business development services such as corporate governance reviews and management development training.CDB took this initiative because it is of the view that SMEs play an important role in the Region’s economies as they account for a large number of firms and provide a wide range of employment opportunities. They […]

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IFI Budget Workshop

May 4, 2009 No. 5/09 – G CDB TO HOST IFI BUDGET WORKSHOP   The Caribbean Development Bank (CDB) will host the annual International Financial Institutions (IFI) Budget Workshop on May 5-7, 2009, at the Barbados Hilton.  The purpose of this workshop is to set the stage for realignment to new practices and procedures in the budgeting process to meet the demands of stakeholders. Vice-President (Finance), Mr. Neville Grainger, will give the welcome address at the opening of the workshop on Wednesday (May 6) morning.  These workshops provide a forum for sharing of experiences and practices among IFIs relating to budgeting and budget management practices. This week’s workshop will be attended by representatives of IFIs from Europe, Asia, Africa and the Middle East,  including the World Bank (WB), Inter-American Development Bank (IADB), International Fund for Agricultural Development (IFAD), International Monetary Fund (IMF), European Investment Bank (EIB), Asian Development Bank (AsDB), African Development Bank (AfDB), Islamic Development Bank, Black Sea Trade and Development Bank, International Development Law Organisation, Council […]

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Highlights of 2009 Activities

January 28, 2010 No. 1/10 – G                                                                                                            HIGHLIGHTS OF CDB’S ACTIVITIES IN 2009 AND ECONOMIC BACKGROUND AND PROSPECTS PART A – ECONOMIC REVIEW AND PROSPECTS 1.         International Economic Developments Global economic activity is estimated to have contracted by approximately 1% in 2009, reflecting the impact of the global financial crisis and the contraction in global trade.  The decline was led by a significant fall in economic activity in advanced economies, and transmitted to emerging economies mainly through trade and foreign direct investment (FDI) channels. However, signs emerged that global economic activity started to recover in the second and third quarters.  Underpinning this recovery was an improvement in consumer and business confidence, which in turn was boosted by the aggressive monetary and fiscal policies put in place in response to the crisis.   The United States (US) economy suffered extensively from the financial strains and the housing sector decline, but started to pick up in the third quarter.  The recovery largely reflected rebounds in consumer spending, residential investment and exports, as government stimulus […]

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Data Analysis Workshop

September 1, 2010 No. 37/10-G CDB HOSTS NATIONAL WORKSHOP ON DATA ANALYSIS AND INTERPRETATION FOR BARBADIAN STATISTICIANS              Fifteen employees of the Barbados Statistical Service, the Central Bank of Barbados, the Ministry of Education and the Ministry of Health have just completed a workshop on Data Analysis and Interpretation.  The workshop was hosted by the Caribbean Development Bank (CDB), in collaboration with the Inter-American Development Bank and the Government of Barbados, and was held over the period August 18 to 31, 2010, at CDB’s Conference Centre.   It was designed to build the capacity of participants to analyse household and poverty data and in particular, will be of tremendous benefit to staff of the Statistical Service as they will be engaged in analysing data collected through the Survey of Living Conditions component of the Country Assessment of Living Conditions (CALC) study launched in April 2009, and the recently-completed national census. The CALC study is being implemented with the assistance of a National Assessment Team, approved by the Government of Barbados, and […]

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Climate Change Adaptation

October 13, 2011 No. 31/11-BD CDB APPROVES CLIMATE CHANGE ADAPTATION PROJECT GRANT The Board of Directors of the Caribbean Development Bank (CDB) has approved a grant equivalent to USD470,250 to the Caribbean Community Climate Change Centre to enable the Centre to establish a Project Development Unit. This unit will assist the Centre in building its capacity to coordinate the effective implementation of the climate change strategy and the associated implementation plan of the Caribbean Community (CARICOM), as well as to provide technical support to the CARICOM member states to support the implementation of appropriate climate change responses. The CDB project will focus on providing the services of a consultant to manage the Project Development Unit, preparation of a pipeline of priority climate change adaptation investment projects for member states, and the development of tools and guidance resources. CDB support to the Centre is part of a wider programme of assistance to the Centre by the development community. 

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