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St. Lucia Project

March 18, 2011 No. 7/11-BD CDB TO FUND ST. LUCIA REHABILITATION AND RECONSTRUCTION PROJECT  The Government of St. Lucia is to receive a loan equivalent to USD17.960 million from the Caribbean Development Bank (CDB).  This financing is to assist the Government in recovering from the impact of Hurricane Tomas.   This is to be achieved through the rehabilitation and reconstruction of critical infrastructure to better than pre-Tomas standards, and the provision of technical assistance in undertaking landslide and flood risk assessments. Hurricane Tomas struck St. Lucia as a Category 1 hurricane on October 30, 2010.  The hurricane left significant damage in its wake.  CDB assistance to the Government in the aftermath of the hurricane included an Emergency Relief Grant of USD200,000, and an Immediate Response Loan of USD750,000.  That financing was approved to assist in providing relief supplies and humanitarian assistance, cleaning and clearing debris, as well as restoring essential services. This new loan is to be used to reduce risks associated with landslide and flood hazards, the major causes of loss during […]

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Risk Management Publication

February 29, 2012   No. 9/12-G   CDB Funds Publication on Risk Management in Financial Institutions   The Caribbean Development Bank (CDB), in partnership with the Multilateral Investment Fund (FOMIN) of the Inter-American Development Bank, has funded the research for a new publication entitled “Exogenous Risk Management in Financial Institutions That Serve the Most Vulnerable Segments of the Population”. The document includes a best practices manual and case studies of experiences of microfinance institutions in Latin America and the Caribbean.  The work draws on the experience of the Caribbean Technical Support Facility (CTSF), an ongoing programme which was designed to strengthen the risk management capabilities of microfinance institutions in the Latin America and the Caribbean region in the area of disaster mitigation, and to which CDB is also a contributor. Coordinator of the CTSF, Ms. Lisa Harding, indicated that “the publication, is not only of great importance to microfinance institutions, but also presents an excellent opportunity for them to work with their clients on mitigating against vulnerabilities, recognizing […]

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Healthy Caribbean Conference

October 7, 2008 NEWS RELEASE NO. 24/08-G CDB Supports Healthy Caribbean 2008 ConferenceThe Caribbean Development Bank (CDB) is co-sponsoring the Healthy Caribbean 2008 Conference with a grant of USD145,000.  The conference is aimed at mobilising civil society, and will bring together a wide cross section of the Caribbean community to address chronic non-communicable disease in a highly participatory and interactive workshop format. Chronic non-communicable diseases, comprising heart disease, hypertension, and stroke, diabetes, lung disease and some cancers, are the number one cause of premature death and reduced quality of life in the Caribbean.  The underlying risk conditions for these diseases are physical inactivity, poor diet and tobacco exposure. Inadequate treatment and control of diabetes and hypertension contributes to the ill health and premature death caused by the chronic diseases.The Pan American Health Organization, the InterAmerican Heart Foundation and the Heart and Stroke Foundation of Barbados have organised this conference with the objective of changing the course of this epidemic.International and regional leaders in the field of chronic disease prevention and […]

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26th July

 CDB to Provide Financial Support for LIAT (1974) Limited’s Restructuring Process  The Caribbean Development Bank (CDB) has approved a package of financing in an amount not exceeding USD60.5 million to assist with the financial and institutional restructuring of LIAT (1974) Limited. Approval was granted at a meeting of CDB’s Board of Directors at the Bank’s Headquarters in Barbados on July 26, 2007.This package includes loans to the LIAT shareholder Governments of Antigua and Barbuda (USD21.8 million), Barbados (USD32.7 million) and St. Vincent and the Grenadines (USD5.4 million), as well as a grant directly to LIAT of USD500,000. The funds are to be used by LIAT in restructuring its operations with a view to enhancing the commercial viability of the airline. Since 2005, LIAT has been implementing a transformation strategy aimed at recapitalising the business, restructuring the airline’s financial commitments and operations, and introducing a new business model. CDB is of the view that the maintenance of reliable and secure air services within the Region is vital to the […]

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2nd November

 CDB to Host Special Discussion Forum in St. Kitts The Caribbean Development Bank will host its series “A Special CDB Discussion Forum” away from the Bank’s Headquarters for the first time later this month. A Discussion Forum on the topic “Life After Sugar: The Role for Tourism and Tourism Ancillary Industries” will be held at the Sir Cecil Jacobs Auditorium of the Eastern Caribbean Central Bank, St. Kitts and Nevis, on Wednesday, November 16, beginning at 7:30 p.m. The panellists will be Ms. Ena Harvey of the Inter-American Institute for Cooperation on Agriculture (IICA), Mr. Atherton Martin of the Caribbean Conservation Association (CCA) and Mr. Cecil Miller of the Caribbean Hotel Association (CHA). Ms. Harvey is the IICA Representative in Barbados; a post she has held since 2002. Ms. Harvey has over 15 years’ experience in agriculture and has been involved in the development of the agro-industrial sector in the Caribbean, in areas of technology development and application, implementation of food safety systems, diagnostic benchmarking of small and medium enterprises […]

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Belize Water Project

December 10, 2009 No. 31/09-BD CDB Financing Approved for Belize Water Project Residents of the Belize River Valley can expect to have a reliable water supply system thanks largely to a USD3.480 million loan to the Government of Belize from the Caribbean Development Bank (CDB) for a project to provide potable water to that area.  The project will reduce the risks to human life related to water and food borne diseases and provide increased access to a quality water supply.  It will alsoassist in the achievement of those Millennium Development Goals and targets related to public access to water. People who live in nine rural villages will benefit from the project, which is included in CDB’s Country Strategy for Belize.  Residents now rely on water from the nearby Belize River, hand-dug wells, roof catchments and expensive trucked or bottled water for drinking water. The Government of Belize is providing counterpart funding of USD0.403 million, which represents ten percent of the project cost.  This will be the third capital project intervention by CDB in […]

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Barbados Water Supply Study

July 22, 2010   No. 32/10-BD   CDB TO FUND BARBADOS WATER SUPPLY STUDY   Barbados is to receive a technical assistance loan equivalent to USD1.062 million from the Caribbean Development Bank (CDB) to undertake a Rehabilitation and Upgrade Study of Barbados’ water supply network.   This financing will assist the Barbados Government in meeting the cost of consultancy services to conduct the study.  The objective is to enhance the capacity of the Barbados Water Authority (BWA) to prepare a technically and economically viable programme of capital works that will result in a significantly improved water supply network.   The proposed approach sets out to undertake demand projections; conduct hydraulic analyses to determine storage and network transmission capacity requirements; undertake detailed condition assessments on pumping, chlorination and storage facilities; and prepare a programme of works for upgrading the water network.   Counterpart funding equivalent to USD202,000 will be provided by the Government of Barbados through the BWA.  The BWA will be the executing agency for the project.  

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Natural Disaster, St. Vincent

July 18, 2011 No. 23/11-BD CDB LOAN FOR ST. VINCENT AND THE GRENADINESNATURAL DISASTER MANAGEMENT PROJECT The Caribbean Development Bank (CDB) will provide a loan equivalent to USD12.622 million to the Government of St. Vincent and the Grenadines for a project to reduce the risks associated with landslide and flood hazards. Hurricane Tomas impacted St. Vincent and the Grenadines as a Category 1 hurricane in October last year and the government declared disaster areas in some parts of St. Vincent.  The islands were again impacted by torrential rainfall in April of this year.  CDB responded in the wake of both events by providing a grant and loans for emergency relief supplies, cleaning and clearing of debris, as well as restoring essential services. This latest financing will enable the government to rehabilitate and reconstruct critical infrastructure to better than pre-Tomas conditions, and upgrade and improve the affected emergency shelters to internationally accepted standards.   The project also provides for technical assistance to the Government of St. Vincent and the Grenadines to undertake a hydraulic assessment […]

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St. Lucia Basic Education

December 12, 2008 No. 35/08-BD  BASIC EDUCATION ENHANCEMENT PROJECT IN ST. LUCIA GETS CDB FINANCING Almost 4,000 students currently enrolled in five primary and three secondary schools in St. Lucia, and the 200 teachers who work in these schools will benefit from a project to be financed by the Caribbean Development Bank (CDB). CDB’s Board of Directors has approved a loan equivalent to USD12 million to the Government of St. Lucia, for a Basic Education Enhancement Project.  It involves the rehabilitation and upgrading of the eight target schools, and a quality enhancement component aimed at improving access to quality education in St. Lucia.   Approximately 1,300 teaching staff at the primary and secondary levels will benefit from training geared to enhance competencies in key subjects and non-academic areas such as early childhood screening and diagnosis, multi-grade teaching methods, classroom management, differentiated instruction, student assessment, multi-media teaching methodology and technology in education. This project follows on from an Economic Recovery Project for St. Lucia financed by CDB in 2003, which comprised the rehabilitation and […]

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15th June

 CDB to Host Special Discussion Forum on Development Issues in the Media The Caribbean Development Bank will host its series “A Special CDB Discussion Forum” on the topic “Development Issues Through the Lens of the Media – The Art of Reporting: Getting the Story Right”. This Forum will be held at the Bank’s Conference Centre at its headquarters in Wildey, St.Michael, Barbados, on Wednesday, June 28, 2006, beginning at 9:30 a.m. The featured presentspeaker will be Mr. William Gumede, author and journalist. Mr. Gumede is a columnist at the Sunday Independent newspaper, Johannesburg, South Africa, and teaches at the School of Public and Development Management, University of Witwatersrand, South Africa. Mr. Gumede also teaches at the Institute for Democracy and Diversity, New School University, New York. He was Clive Menell Fellow at the Terry Sanford Institute for Public Policy at Duke University and deputy editor of The Sowetan, South Africa’s largest national daily newspaper. Prior to this Mr. Gumede was senior editor of the Financial Mail, South Africa’s leading finance weekly and […]

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