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SME Investment Workshop

November 23, 2010 No. 46/10-GCDB Hosts SME Investment Support Facility Workshop The Centre for the Development of Enterprise (CDE), in collaboration with the Caribbean Development Bank (CDB), organised a regional workshop focussed on the “SME Investment Support Facility” on November 22, 2010, at the CDB Headquarters in Barbados.   The workshop represented a component of a regional project in which the CDE is seeking to partner with financial institutions (FIs) offering equity financing and/or long term loans to small and medium enterprises (SMEs), in order to strengthen their existing, as well as new, portfolio of SME investments, whether they are existing or start-up companies.  Under this programme, the CDE will provide pre- and post-investment technical assistance (TA) via a dedicated TA facility – the “SME Investment Support Facility”.   The workshop presented global findings of the experience of institutions around the Caribbean in doing SME finance, the findings and best practices of other programmes where TA is used to support investment in SMEs, and the actual experience of FIs in the Region which […]

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T&T Country Strategy

October 13, 2011 No. 35/11-BD CDB COUNTRY STRATEGY FOR TRINIDAD AND TOBAGO  The Board of Directors of the Caribbean Development Bank (CDB) has approved a country strategy paper which outlines the Bank’s assistance strategy for Trinidad and Tobago over the period 2011-2014. The support programme rests on three broad pillars that are in concert with CDB’s own priorities.  These are: promoting broad-based economic growth and inclusive social development; promoting good governance; and supporting environmental sustainability and disaster risk management. In particular, the strategy will help the Government of Trinidad and Tobago to achieve a range of outcomes, including strengthening human capital; improving livelihoods in at-risk communities; broadening economic opportunities; and safeguarding development gains through improved disaster risk management.   In shaping the strategy, CDB held extensive discussions with key officials in Trinidad and Tobago, as well as with principal development partners, in an effort to sharpen focus and to avoid duplication.  

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Rainforest Development Project

December 12, 2008 No. 44/08-BD RAINFOREST CONSERVATION AND DEVELOPMENT PROJECT RECEIVES CDB FINANCING The Caribbean Development Bank (CDB) will provide a grant equivalent to USD149,940  to the Iwokrama International Centre for Rain Forest Conservation and Development which is situated in Guyana.  The funding is to help the centre improve its revenue-generating capacity through tourism and training of business enterprises.  The revenue generated will be used to finance research and development on the sustainable management of tropical forests and their natural assets. The results of the research conducted by the centre will be public goods for use by CDB’s borrowing member countries and the wider global community. Iwokrama Forest is situated within one of the world’s oldest geographic regions, and is one of only four intact rainforest environments left on earth.  The centre was established in 1995 by agreement between the Government of Guyana and the Commonwealth Secretariat. 

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19th January

 CDB Offers Flood Relief Assistance to Guyana The Caribbean Development Bank (CDB) has offered to assist the Government of Guyana in its relief and recovery efforts in the aftermath of recent severe flooding in that country. In accordance with CDB’s Natural Disaster Management Policy, the Bank can provide a grant to the Caribbean Disaster Emergency Response Agency of up to USD100,000 to assist CDERA in providing emergency relief. The Bank can also provide an immediate response loan of up to USD500,000 to the Government, if it applies for such assistance, for clearing and cleaning affected areas and restoring services. CDB would provide the engineering consultants to conduct independent inspection and certification of works. In addition, if requested, CDB can participate in a detailed assessment of the social and economic infrastructure and sectoral damage caused by the flooding. An effective recovery strategy and a programme of rehabilitation works could then be developed from this assessment.CDB President, Dr. Compton Bourne, says the Bank very much regrets the damage done to […]

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CAAS MOU

 July 17, 2009 No. 18/09 – G NEWS RELEASE CDB SIGNS MOU WITH CHINESE ACADEMYOF AGRICULTURAL SCIENCE Today the Caribbean Development Bank (CDB) and the Chinese Academy of Agricultural Science (CAAS) signed a Memorandum of Understanding, which identifies areas of cooperation in the field of agricultural science and technology. Specific areas in which the two institutions will cooperate include tropical fruits, agricultural production, food safety, agricultural biotechnology, protected cultivation, integrated pest management and water resource management. This cooperation will be facilitated through approaches such as exchange of technical study teams in areas of mutual interest to strengthen administrative, technical and academic staff; organisation of meetings, symposia, seminars, workshops; organisation of technical training courses; and facilitation and development of projects which benefit CAAS and CDB’s borrowing member countries. CDB’s Vice-President (Finance), Mr. Neville Grainger, signed on behalf of the Bank, while CAAS’ President, Dr. Zhai Huqu, singed on behalf of his institution.   

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Fortieth Annual Meeting

May 4, 2010 No. 14/10-G CDB BOARD OF GOVERNORS’ ANNUAL MEETING TO BE HELD IN THE BAHAMAS  The Fortieth Annual Meeting of the Board of Governors of the Caribbean Development Bank (CDB) will be held at the Sheraton Cable Beach Hotel in Nassau, The Bahamas, on May 19 and 20, 2010.  The Board of Governors is the highest decision-making body of the Bank. CDB is celebrating its 40th anniversary this year, and is returning to the country where the First Meeting of the Board of Governors took place in 1970.  The Governors’ meeting will be preceded on Monday, May 17, by a meeting of the Board of Directors.  On Tuesday, May 18, there will be a meeting of the Procedures Committee of the Board of Governors, followed by the Annual Meeting of Contributors to the Bank’s Special Development Fund and the William G. Demas Memorial Lecture. Two special panel discussions will be held as part of the Annual Meeting activities.  On May 18,  the panellists will be Sir William Allen, Economic Advisor, […]

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Northern Highway, Belize

March 18, 2011 No. 5/11-BD CDB TO FINANCE NORTHERN HIGHWAY FEASIBILITY STUDY FOR BELIZE The Caribbean Development Bank (CDB) is to provide a technical assistance loan equivalent to USD350,000 to the Government of Belize, to assist in financing the services of consultants to prepare a feasibility study and detailed designs for a section of the Northern Highway. This highway is the arterial route which links northern Belize District, Corozal and the Orange Walk Districts to Belize City. It also provides access to the Philip S.W. Goldson International Airport. Traffic volumes for a section of the highway, from the Airport Junction to Haulover Bridge, have increased faster than anticipated, resulting in congestion.  In addition, significant residential developments are in progress or planned in adjacent areas, and this will likely contribute to further traffic growth. Consultants will be engaged to assist in identifying the options and best approaches to upgrade this section of the Northern Highway, and to prepare detailed designs in order to facilitate appraisal and financing of a capital project.  

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Supporting ECD Advocacy

February 10, 2012   No. 6/12-G   The Caribbean Development Bank (CDB) supports Early Childhood Development Advocacy Initiatives   The Caribbean Development Bank (CDB) has taken another step in its ongoing support of Early Childhood Development (ECD) initiatives in the Caribbean. CDB recently signed an agreement with the Caribbean Center for Development Administration (CARICAD) to provide a USD$64,603 grant to a Project entitled, ‘Advocacy of ECD Initiative’ initiated by the Caribbean Child Support Initiative (CCSI). The CDB grant funds were allocated from the Basic Needs Trust Fund (BNTF) 6th Programme and will be used to finance the production and dissemination of the “Early Childhood Advocacy Toolkit”, training materials and training of advocates of the local Youth and Community Advocacy Network (YouCAN) in Dominica, Grenada, St. Lucia and St. Vincent and the Grenadines. In addition, the funds will support the production and dissemination of the Toolkit and training materials in Belize and Jamaica. Successive BNTF Programmes have provided grants for gender-specific activities of the Roving Caregivers Programme (developed by […]

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Assistance to Haiti

September 18, 2008 No. 22/08-G HAITI  RESPONDS  TO  CDB  OFFER  OF  POST-HURRICANE  ASSISTANCE  The Caribbean Development Bank (CDB) has offered emergency relief grants to the Republic of Haiti totalling USD400,000, in response to the damage which the country sustained from Hurricanes Fay, Gustav, Hanna and Ike. CDB President, Dr. Compton Bourne, wrote to Haiti’s Minister of Finance, Mr. Daniel Dorsainvil, offering the financial assistance.  In his letter, Dr. Bourne said “We are saddened by the loss of life and very much regret the extensive damage done to social and economic infrastructure.”   He also stated that, in accordance with the Bank’s Natural Disaster Management Policy, CDB can assist the Government of Haiti in other ways, and assured the minister that “CDB stands ready to travel to Haiti at your earliest convenience and provide assistance in achieving an effective recovery strategy.” An official in Haiti’s Ministry of the Economy and Finance has responded to the offer saying, “This reaction by the Caribbean Development Bank touches us deeply and we are grateful for this gesture of […]

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28th May

 Major Decisions of the Two Hundred And Twenty-Sixth Meeting of the Board of Directors of the Caribbean Development Bank Held in Caracas, Venezuela May 28, 2007 Caribbean Catastrophe Risk Insurance FacilityA grant of USD5 million was approved to the Caribbean Catastrophe Risk Insurance Facility established to allow Caribbean governments to economically purchase insurance coverage against hurricanes and earthquakes. The scheme is designed to ensure immediate payout on claims thereby relieving fiscal difficulties normally experienced in the immediate aftermath of the events. Republic of Haiti – Education for All ProjectIn Haiti, the newest member of CDB, approximately 35-40% of primary school-aged children are not in school. Less than 20% of those who enter the school system complete the five years of primary education. More than 20% of children suffer from chronic malnutrition. The school system itself is weak and underprovided with financial and technical resources. CDB has approved a grant of USD10 million to improve access to primary education by poor children and to improve the quality of the education sector. The grant will be used for […]

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