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Dominica Education Enhancement

May 25, 2009 No. 8/09-BD DOMINICA EDUCATION ENHANCEMENT PROJECTTO RECEIVE CDB FINANCING The Board of Directors of the Caribbean Development Bank (CDB) has approved a loan equivalent to USD4 million to the Government of Dominica to improve access to quality education at the primary and secondary levels.  This project will see the upgrading and equipping of 63 primary schools and 14 secondary schools across the island, as well as the Curriculum Measurement and Evaluation Unit and four District Offices.  These schools currently have a roll of approximately 15,000 students. Approximately 900 teachers and 75 principals will benefit from training in key academic subjects and non-academic areas such as special education, guidance counselling, early screening and diagnosis, multi-grade and differentiated teaching methods, numeracy instruction and educational assessment and curriculum implementation.  In addition, the CDB financing will enable approximately 20 education officials to benefit from curriculum implementation training, improved school maintenance planning, materials production and early diagnosis and intervention for at-risk children. 

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Vybzing Bahamas

February 15, 2010No: 4/10-G CDB TO HOST YOUTH FORUM IN THE BAHAMAS The Caribbean Development Bank (CDB) will host a youth forum called Vybzing Bahamas during the week of its Annual Board of Governors’ Meeting, May 17-21, 2010, in Nassau, The Bahamas.  Vybzing Bahamas will be held in Nassau on Thursday May 20. Vybzing was conceptualised as a way to disseminate information about CDB’s mandate, role and function to young people in the Bank’s borrowing member countries.  It is also a platform for youth to be exposed to dynamic speakers on various topics and to communicate on issues and challenges that are impacting their lives.   CDB recognizes that the Region’s youth must be seen as active players in development, and that youth fora such as Vybzing allow young people to fully utilize their potential for creative and critical thinking on issues of social and economic development.   Vybzing is also expected to build awareness and understanding among the Region’s youth of creating sustainable futures.  As part of Vybzing Bahamas, CDB will be […]

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Book Launch

December 7, 2010 No. 47/10-G CDB TO LAUNCH BOOK ON GROWTH AND DEVELOPMENT STRATEGIES The Caribbean Development Bank (CDB) will host the official launch of a publication entitled Growth and Development Strategies for the Caribbean at the Bank’s Headquarters on Thursday, December 9, 2010. This publication comprises papers commissioned from Caribbean experts such as Prof. Selwyn Ryan, Prof. Vaughan Lewis and Prof. Norman Girvan.  The various chapters appraise the main strategies for economic growth and development pursued by the countries in recent times; are sector-wide in coverage with attention to agriculture, manufacturing, tourism and mining; and incorporate regional integration and governance.  There is also treatment of labour markets, migrant remittances, crime and natural environment. Director of the Sir Arthur Lewis Institute of Social and Economic Studies, Professor Andrew Downes, is also one of the contributors to the publication.  He will speak at Thursday’s launch, as well as Director of CDB’s Economics Department, Dr. Denny Lewis-Bynoe.  CDB President, Dr. Compton Bourne, will give welcome remarks The Bank hopes that policymakers, scholars, business people and international […]

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Dominica Disaster Management

October 13, 2011 No. 32/11-BD DOMINICA TO RECEIVE CDB DISASTER MANAGEMENT LOAN The Government of Dominica is to receive a loan equivalent to USD750,000 from the Caribbean Development Bank (CDB) to assist with the recovery from damage caused by the collapse of a dam in July of this year.   This financing is to assist the government with clearing and cleaning of affected areas, and with the emergency restoration of services following the collapse of the dam and the subsequent flooding. On July 28, a tropical wave resulted in rainfall amounts of approximately 58 millimetres across the country.  The breach and ultimate failure of the Matthieu Dam, located on a tributary of the Layou River, was attributed to this heavy rainfall.  The high velocity water and debris flow resulting from the dam’s collapse caused significant damage to roads, retaining walls and residential properties within the Layou Valley.  The Layou Valley road forms part of Dominica’s main road network, linking the central-west coast of the island to a major agricultural area. The resources provided by […]

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Climate Change Financing

During the Caribbean Development Bank’s (CDB) Annual Board of Governors Meeting in Trinidad and Tobago, May 2011, a panel discussion was held on the topic “Unlocking Climate Change Financing: Constraints and Opportunities”. The objective of the discussion was to highlight current issues and concerns which CDB’s Borrowing Member Countries face, with respect to access to development financing that is urgently needed to tackle the enormous challenges that climate change will impose on their development. The panel discussion also explored a potential role for the Bank to leverage these resources to assist its BMCs. Mrs. Tessa Williams-Robertson, CDB’s Acting Vice-President (Operations), gave opening remarks and chaired the discussion by the four panelists: Dr. Neville Trotz Mr. Selwyn Hart Dr. Simon Young, and Mr. Philip Weech Summary of Panelists’ Presentations Mr. Selwyn Hart Borrowing Member Countries (BMCs) should: intensify efforts at accessing and utilizing available financing through bilateral sources and existing institutions e.g. Adaptation fund;  improve information flow between Ministries on the availability of financing;  better integrate climate change considerations […]

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Grenada Student Loan

December 12, 2008 No. 38/08-BD CDB TO PROVIDE STUDENT LOAN FINANCING FOR GRENADA Eligible persons in Grenada who want to upgrade their skills and qualifications at the vocational, technical and professional levels, will soon be able to benefit from student financing being provided by the Caribbean Development Bank (CDB). CDB’s Board of Directors has approved a loan equivalent to USD2 million to the Grenada Cooperative Bank Limited to assist in financing sub-loans under CDB’s Student Loan Scheme. The primary objective of the project is to assist the Government of Grenada in developing the country’s human resources through the provision of student loans for post-secondary and tertiary education and skills enhancement. The development of human capital is expected to contribute directly to poverty reduction through job creation in the medium to long term. Access to financing is one of the key constraints to participation in tertiary education in Grenada.  The expansion of tertiary education opportunities at the local and regional levels, and the increasing number of students qualifying for entry into these institutions, do not […]

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4th February

 Highlights of CDB’s Activities in 2004 and Economic Background and ProspectsPart A – Economic Review and Prospects1. International Economic DevelopmentsThe pace of recovery in the international economy accelerated and broadened in 2004. Unlike 2003, where growth was led predominantly by the US, global activity in 2004 was more wide-spread, with Asia, particularly China and to a lesser extent Japan, as well as the Eurozone area and Latin America making notable contributions to world output. In the US, a surge in private domestic demand provided the main impetus for growth, while in Asia, rising private consumption and business investment fuelled activity. Reflecting rising external demand and a smaller increase in domestic demand, activity in the Eurozone area, which had stagnated over the past two years, accelerated for the first time since 2000. Similarly, Latin America, buoyed by rising external demand from its main markets in the US and Asia, was also able to record some gains. Consequently, global growth was estimated at around 5% in 2004, compared to 3.9% in 2003, and represents the […]

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Policy-Based Grant for Haiti

July 22, 2009 No. 19/09 – BD NEWS RELEASE  CDB TO PROVIDE $10 MILLION POLICY-BASED GRANT TO HAITI The Caribbean Development Bank (CDB) is to provide a policy-based grant equivalent to USD 10 million to the Government of Haiti.  CDB’s Board of Directors approved the financing during a meeting at the Bank’s Headquarters in Barbados. This grant is part of a broader programme of support by other multilateral financing institutions that seeks to enhance fiscal and debt management in Haiti through a series of technical assistance projects.  The International Monetary Fund, the World Bank and the Inter-American Development Bank are the other institutions involved. CDB’s role is to provide budgetary assistance in support of the need to maintain short-run budgetary macroeconomic stability, contributing to the efforts of the other donors to assist the Haitian government in attaining its longer term fiscal and debt objectives. The technical assistance projects being assisted by the donor institutions are aimed at enhancing revenue through institutional strengthening of the key revenue collection agencies; better expenditure targeting to ensure greater poverty […]

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11th William G. Demas Lecture

May 4, 2010 No. 15/10-G ELEVENTH WILLIAM G. DEMAS MEMORIAL LECTURE TO BE DELIVERED BY JAMAICAN-AMERICAN SCIENTIST Professor Patricia Martin-DeLeon will deliver the Eleventh William G. Demas Memorial Lecture.  Her topic will be Increasing the Caribbean’s Human Capital in the Stem (Science, Technology, Engineering and Mathematics) Fields: The Pivotal Role of Mentoring. Professor DeLeon is Trustees Distinguished Professor of Biological Sciences at the University of Delaware, where she has worked for the last 34 years, and where she serves as Faculty Representative on the Board of Trustees. She has been a Visiting Scientist in the Pediatrics Department of Johns Hopkins University, a Visiting Faculty in the Department of Psychiatry of the University of Pennsylvania, and an Adjunct Professor in the Department of Pharmacology, Penn State University College of Medicine.  Professor DeLeon is a reproductive geneticist whose research interests focus on genes involved in sperm development and function as well as sperm membrane and epididymal proteins.  She attended Excelsior High School in Kingston, Jamaica.  She graduated with a B.Sc. and an M.Sc. from […]

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CDB Contributes to CARTAC

March 18, 2011 No. 6/11-BD CDB TO CONTRIBUTE USD 1 MILLION TO CARTAC The Caribbean Regional Technical Assistance Centre (CARTAC) is to receive a technical assistance grant equivalent to USD1 million from the Caribbean Development Bank (CDB).  The grant is a contribution to a fourth phase of CARTAC’s programme for the period 2011-15. CARTAC is one of seven regional technical assistance centres operated by the International Monetary Fund.  These centres were established to build country capacity in the areas of macroeconomic and financial management.  CARTAC was conceptualised and established in November 2001.   From the inception, CDB has provided strong support to CARTAC’s operations, in acknowledgment of the pressing needs of the Bank’s borrowing member countries to address knowledge and capacity deficits in the areas of macroeconomic management, statistics and financial sector supervision.  The CARTAC office is located in Barbados. 

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