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21st March

 IDRC President to give William G. Demas Memorial Lecture Caribbean Integration in a Global World: The Role of Research Networks will be the title of the Eighth William G. Demas Memorial Lecture. The lecture will be given by Maureen O’Neil, President of the International Development Research Centre (IDRC), Ottawa, Canada. The lecture will take place on Tuesday, May 29, 2007, at the Radisson Plaza Eurobuilding Hotel in Caracas, Venezuela. It forms part of the activities for the Thirty-Seventh Annual Meeting of the Board of Governors of the Caribbean Development Bank (CDB), which will be hosted by the Government of the Bolivarian Republic of Venezuela.CDB inaugurated the lecture series in 2000, in honour of the late William Gilbert Demas, who served as the Bank’s second president. He was a distinguished economist and champion of regional integration.Ms. O’Neil is a member of the International Board of Governors of the Centre for International Governance Innovation and a member of the Advisory Council on Corporate Social Responsibility of Canada’s Export Development Corporation. She […]

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29th September

 Air Transport Financing to be Topic of Discussion at CDBThree senior executives with experience in the regional airline industry are being brought together for a special discussion forum at the Caribbean Development Bank (CDB). Chief Executive Officer of LIAT (1974) Ltd., Gerard “Garry” Cullen; former Chief Executive Officer of BWIA West Indies Airways Ltd., Ian Bertrand; and Aubyn Hill, Chief Restructuring Officer of Air Jamaica Ltd. will discuss the topic “The Value Chain and the Economic Impact of Air Transport Financing”.Mr. Cullen has been CEO of LIAT since 2000, and prior to this was Group Chief Executive of the Irish airline Aer Lingus. Mr. Bertrand, currently Principal of a management consulting firm in Trinidad and Tobago, served as CEO of BWIA for 14 years, while Aubyn Hill, Managing Partner of a financial advisory restructuring and consulting firm, was appointed to the consultant role of Chief Restructuring Officer at Air Jamaica last year.The forum is a programme of panel discussions and lectures initiated by CDB to heighten awareness of […]

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Grenada Road Rehabilitation

October 14, 2009No. 27/09 – BD NEWS RELEASE  CDB TECHNICAL ASSISTANCE LOAN FOR GRENADA The Caribbean Development Bank (CDB) has approved a technical assistance loan equivalent to USD 556,000 to the Government of Grenada to undertake a rehabilitation and upgrade study in respect of two sections of the road network in the parish of St. Patrick. The first section of road, starting in Duquesne and ending in Sauteurs, provides access to many of the existing and proposed tourism and recreational facilities.  It is approximately 8 kilometres long.  The second section, also 8 kilometres long, spans Mt. Fendue and Belmont Road.  Phase one of the study will consist of the development and evaluation of alternative strategies for improving the road network and the presentation of a preferred option; while phase two will consist of the development of detailed designs, cost estimates and bid documents for the selected option. Grenada’s Ministry of Communications, Works and Transport will be the executing agency for this project.

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Caribbean Joint Action Plan

May 19, 2010 No. 22/10-G   JOINT PRESS RELEASE Nassau, 19 May 2010 (UNDER EMBARGO UNTIL 12.30 NASSAU / 18.30 LUXEMBOURG TIME) USD 850m Caribbean Joint Action Plan signed by leading International Financial Institutions active in the Region Caribbean Development Bank, European Investment Bank, FMO, IFC and PROPARCO to increase coordination and support of sustainable solutions for the region’s financial, tourism and infrastructure sectors  Today, five leading international financial institutions active in the Caribbean reinforced their commitment to ensuring long-term economic growth across the region, resilience to the global financial crisis and effective deployment of assistance for reconstruction efforts in Haiti with agreement of the Caribbean Joint Action Plan. Institutions participating in the landmark agreement were the Caribbean Development Bank (USD 300m), the European Investment Bank (USD100m), the Netherlands Development Finance Company FMO (USD 100m), the International Finance Corporation – part of the World Bank Group (USD 150m), and PROPARCO – the private sector arm of the Agence Française de Développement Group (USD 200m). The signature ceremony took place on the sidelines […]

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CARDI Agricultural Research

May 23, 2011 No. 17/11-BD CARDI TO GET CDB SUPPORT FOR AGRICULTURAL RESEARCH   The Caribbean Development Bank (CDB) has approved a grant up to the equivalent of USD 285,000 to the Caribbean Agricultural Research and Development Institute (CARDI).  The grant is to support CARDI in conducting research into the problems that limit the production of vegetables under protected agriculture systems in the Caribbean.  The term ‘protected agriculture systems’ has replaced ‘greenhouse’, since most of the systems currently in use in the Caribbean do not conform to the classical definition of greenhouses. This research will be undertaken in two countries – Trinidad and Tobago and St. Lucia.  These countries have been selected because they provide the range of agro-ecological zones in which protected agriculture systems are used in the Caribbean. There will be five components to the project: –          Component one: monitoring of biotic and abiotic factors, production practices and yield in commonly used protected structures.–          Component two: identification and evaluation of ‘best practice’ for the management of crops under protected structures.–          Component […]

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Education Policy Dialogue

 November 26, 2008 No. 31/08-G CDB AND IDB SPONSOR REGIONAL EDUCATION POLICY DIALOGUE The Caribbean Development Bank (CDB) and the Inter-American Development Bank (IDB) will co-host a workshop to examine the status of literacy and numeracy among primary and secondary students in the Caribbean. National assessment tests at the primary education level indicate that in most Caribbean countries, some students have not acquired the basic literacy and numeracy competencies, and are not well prepared for the transition from primary to secondary education.  A number of countries have initiated and implemented projects that aim to improve these skills, however, information about their content and success is not widely known or accessible.  CDB and IDB commissioned a joint regional study on literacy and numeracy to get a better understanding of the current situation pertaining to these skills at the two educational levels.  The study compiles the interventions targeting literacy and numeracy in the Region, and undertakes a diagnostic of the current status.  The study will be central to the discussions at the workshop. Approximately 70 […]

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2nd May

 Caribbean Development Bank Board of Governors to Meet in Montego BayThe 36th Meeting of the Board of Governors of the Caribbean Development Bank (CDB) will be held May 17 and 18 at the Ritz-Carlton Golf & Spa Resort, Montego Bay, Jamaica. Several Caribbean Heads of Government, central bank governors and regional decision makers are expected to attend. The Hon. Portia Simpson Miller, Prime Minister of Jamaica, will deliver the main address at the Opening Ceremony.CDB was established in 1969 to foster economic development among member countries and mobilizes its financial resources from within and outside of the region. In addition to project financing, the Bank also provides technical assistance. “The CDB is one of the most important organizations promoting regional integration. The Bank’s philosophy of supporting growth within the region has had a positive impact on the economies of member countries,” said Dr. Omar Davies, Jamaica’s Minister of Finance and Planning and Chairman of the Board of Governors of the CDB. “The benchmark of success for any regional […]

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Policy-Based Loan – SVG

May 25, 2009 No. 6/09-BDST. VINCENT AND THE GRENADINES TO GET CDB POLICY-BASED LOAN The Government of St. Vincent and the Grenadines is to receive a policy-based loan equivalent to USD25 million from the Caribbean Development Bank (CDB). CDB’s Board of Directors has approved the loan which will support the Government’s programme of macroeconomic reforms.  Disbursement will be based on an agreed set of policy reforms which have been identified by the Government and are at varying stages of implementation.  These include revenue policy and administration; expenditure management; debt management; public sector enterprise oversight; enhancing growth and improving competitiveness; and sustaining poverty reduction. The loan is part of a broader CDB strategy of support for St. Vincent and the Grenadines which places emphasis on strengthening macroeconomic management and policy reform; bolstering economic growth prospects through the upgrade of critical economic infrastructure; and forging output expansion in key sectors.  CDB also proposes to support human resource development in that country and to tackle poverty through direct poverty interventions.  In addition, the strategy includes […]

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Caribbean Seizes Opportunities

February 5, 2010No: 2/10 – G NEWS RELEASE  “Caribbean seizes opportunities under UK-CDB Fund for CSME and EPA” In days where donor funding is sometimes scarce, and there is some frustration with the pace of implementation of trade agreements and the CARICOM Single Market and Economy (CSME), the establishment and early implementation of the UK’s Caribbean Aid for Trade and Regional Integration Trust Fund (CARTFund) at CDB stands out as a great development success story. The CARTFund was established at CDB in March 2009 with £5 million funding from the UK Department for International Development (DFID), to support Caribbean implementation of the Economic Partnership Agreement (EPA) with Europe and the CSME.  The Fund was born out of the UK’s commitment to provide additional Aid for Trade resources to the region, and the tireless efforts of CDB, DFID and CARICOM/CARIFORUM officials to quickly find a viable mechanism to deliver the funding.  CDB manages the Fund from the application phase to project completion, and the Fund Steering Committee, composed of DFID, CARICOM and CARIFORUM […]

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Datawarehousing Seminar

November 19, 2010 No. 45/10-G CDB to Host Regional Seminar onData Warehousing and Dissemination in Trinidad and Tobago The Caribbean Development Bank (CDB) has organised a regional seminar on Data Warehousing and Dissemination in conjunction with the United Nations Economic Commission of Latin America and the Caribbean (ECLAC) and the Sir Arthur Lewis Institute for Social and Economic Studies (SALISES).  It will take place from November 22 to 24, 2010, at the ECLAC Office in Trinidad and Tobago.   The objective of the seminar is to expose key persons (statisticians and relevant professionals) from Borrowing Member Countries (BMCs) of the Bank to the methods and facilities available in the Region for the storage, retrieval and manipulation of poverty and social data.  It will involve a review of the issues and challenges associated with the storage and dissemination of social and poverty data in the Caribbean, an opportunity for participants to interface with some of the databank facilities operating in the Region and the laying out of a road map to improve access […]

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