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Workshop for Belize Project

March 4, 2010No. 6/10-G CDB to Host Exit Workshop for Belize Technical and Vocational Education and Training Project A project in Belize conceptualised as a means of addressing the technical and vocational education and training (TVET) deficiencies in the system, and ultimately improving the competitiveness of the Belizean economy, is coming to its conclusion.   The Government of Belize (GOB) signed a loan agreement with the Caribbean Development Bank (CDB) in January 2001, for the enhancement of TVET in the country.  The project addressed both infrastructural and human resource development issues.  Three new Centres for Employment Training (CETs) were established and there was expansion of the two existing centres.  The Centres were also fully equipped. In addition, the project addressed capacity building and institutional strengthening, including curriculum enhancement, certification, and on-going professional development and training, to support the physical expansion.   With the project approaching completion, CDB is conducting an exit workshop to learn more about the effectiveness of the outcomes from the persons involved in the execution of the project, as […]

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Belize Road Project

December 9, 2010 No. 49/10-BD CDB TO PROVIDE LOAN FOR BELIZE ROAD PROJECT              The Caribbean Development Bank (CDB) is to provide the Government of Belize with a loan equivalent to USD24.719 million to assist with financing construction of a bypass road around the twin town of Santa Elena/San Ignacio.  The project will involve the upgrading of 3.2 kilometres of existing road, and construction of 1 km of new road, as well as a 154-metre span bridge.             In addition, CDB is to provide the Government with a grant equivalent to USD249,000 to finance a Road Safety Management Capacity Review, and a Road Assessment Programme.             Santa Elena/San Ignacio is located is located in the Cayo District of Belize.  All traffic on the Western Highway, which is one of the country’s most important highways, currently crosses the Macal River in Santa Elena/San Ignacio on two bridges.   One of these bridges is made of timber, and is impassable during periods of heavy rainfall, and the other is over 50 years old, and is […]

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Haiti Equipment Loan

October 13, 2011 No. 36/11-BD CDB TO FUND OFFICE FURNITURE AND EQUIPMENT FOR HAITI The Caribbean Development Bank (CDB) has approved financing to assist the Government of Haiti in providing office furniture and equipment for three agencies within the Ministry of Public Works, Transport and Communications which were destroyed or severely damaged by the January 2010 earthquake. This furniture is to be installed in prefabricated office accommodation previously funded by CDB.  In May 2010, the CDB Board of Directors approved the use of the equivalent of USD750,000 to provide the prefabricated office accommodation and this was completed in April 2011. Now, the equivalent of USD150,000 will be used to acquire the furniture and equipment, which will enhance the functionality and effectiveness of the offices.  This, in turn, will enable the government to resume normal activities and begin planning for medium and long-term recovery and rehabilitation efforts. 

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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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CDB Invests in DEVCAP Fund

July 23, 2009 No. 21/09 – BD NEWS RELEASE CDB TO INVEST USD 3 MILLION IN DEVCAP EQUITY FUND The Caribbean Development Bank (CDB) is to invest up to USD 3 million in acquiring units in DEVCAP Equity Fund 2007. The Fund will be managed by Caribbean Development Capital Limited, commonly known as DEVCAP, which is a subsidiary of DFL Caribbean Holdings Limited.  Fund investments are to be made in transactions which span a number of CDB’s borrowing member countries and Suriname.  Such investments will be in the form of equity and equity related instruments, primarily in cross-border small and medium-scale enterprises that are privately held, with the objective of achieving long-term capital growth.  There will be a focus on enterprises with growth potential which have assets ranging from $0.3 – 30 million. Investments will be made in start-up and expansion enterprises and buyouts with appropriately structured financing packages ranging from $75,000 to $1.5 million.  It is projected that investments will be made in approximately 25 ventures with an average size of $0.6 […]

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Shanghai World Expo 2010

May 7, 2010 No. 17/10-G CDB PARTICIPATING IN SHANGHAI WORLD EXPO 2010  The Caribbean Development Bank (CDB) is among the institutions represented at Shanghai World Expo 2010 in Shanghai, China.  CDB is sharing a booth with the CARICOM Secretariat in the CARICOM Pavilion. Several of the Bank’s Borrowing Member Countries are also participating in the Expo, and have space in the pavilion. The Bank views its participation as an important demonstration of support for this major undertaking by one of its non-borrowing members, China, and for the efforts of its participating Borrowing Member Countries to attract tourism and foreign direct investment. Employees of the Bank will manage the booth, and share information about the work of CDB, particularly in the area of urban revitalization.  This is in keeping with the theme of the Expo, ‘Better City, Better Life’.  The theme is said to represent a central concern of the international community for future policy making, urban strategies and sustainable development. CDB President, Dr. Compton Bourne, is among the […]

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Training Programme for DFIs

March 28, 2011 No. 8/11-G Training Programme for Development Finance Institutions (DFIs) and Indigenous Financial Institutions (FIs) A training programme for representatives of Development Finance Institutions (DFIs) and Indigenous Financial Institutions (FIs), is underway at the Jolly Beach Resort in Antigua.  The training programme is being executed by the Caribbean Development Bank (CDB), in collaboration with the Antigua and Barbuda Development Bank, and runs from March 21 to April 13, 2011.At the official opening ceremony, participants and other specially invited guests were provided with a comprehensive overview of the rationale for the training programme, including the existing challenges facing financial institutions in the region and the importance of investing in human capital, and the link between improved financial performance of financial institutions and their ability to access funding for expansion and diversification.  Presentations were made by Mr. Peter Blackman, Officer-In-Charge, Private Sector Development Division, CDB; Mr. Sean Cenac, Acting Permanent Secretary in the Ministry of Finance, The Economy and Public Administration (Antigua); Mr. Donald Charles, General Manager of the Antigua and […]

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News Release No. 10/12

March 1, 2012   No. 10/12-G   CDB TO HOST SPECIAL DEVELOPMENT FUND (UNIFIED) NEGOTIATION MEETING IN DOMINICA   The First Formal Negotiation Meeting of Contributors to the Special Development Fund (Unified) (SDF U) of the Caribbean Development Bank (CDB) will be held in the Commonwealth of Dominica during the period March 6-9, 2012. Now in its seventh cycle, the SDF is CDB’s largest source of concessionary finance for providing soft loans and grants to its Borrowing Member Countries.  Replenishment of the SDF takes place every four years. The current cycle will end on December 31, 2012, and the resources which were made available for SDF 7 are expected to be fully committed by that date.   A Preparatory Meeting of Contributors was held on December 9, 2011, to agree on the Themes, Issues and Timeline for the SDF 8 replenishment discussions.  Other negotiation meetings are scheduled for May, July, October and possibly December 2012.    The Dominica meeting will include site visits to projects funded by the SDF […]

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Demas Lecture

April 22, 2008No. 7/08 – BG NEWS RELEASE CARICOM PRIVATE SECTOR GROWTH TO BE FOCUS OF 2008 DEMAS LECTURE “Thoughts on Private Sector Growth in CARICOM” is the topic of this year’s William G. Demas Memorial Lecture.  The lecture will be given by Dr. Marshall Hall. Dr. Hall is a former Group Managing Director of Jamaica Producers Group Limited, a position he held from 1979 to 2007.  He continues to serve as a member of the Board.   He is chairman of the Banana Export Co. Ltd., Eastern Banana Estates Ltd., St. Mary Banana Estates Ltd., the Caribbean Banana Exporters Association and a member of the Council of the University of the West Indies.    He was educated at Kingston College; Columbia University and the University of Wisconsin.  Dr. Hall was Instructor and Assistant Professor at the University of Wisconsin; Professor at Washington University;  Visiting Professor, Makerere University, Uganda; and Professor at the University of the West Indies Department of Management Studies. The 2008 Demas Memorial Lecture will take place at 8:00 p.m. on Tuesday, […]

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