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Technical/Vocational Training

December 12, 2008 No. 37/08-BD CDB SUPPORT FOR TECHNICAL AND VOCATIONAL TRAINING IN GUYANA The Board of Directors of the Caribbean Development Bank (CDB) has approved a loan equivalent to USD7.5 million to the Government of Guyana to assist in enhancing access to Technical and Vocational Education and Training (TVET).  This project is also expected to improve the quality and effectiveness of such education and training. The loan will provide for the construction of two technical institutes in Regions 3 and 5, equipment and learning materials and teacher training.  The Region 3 site is within the town of Leonora on West Coast Demerara, and the Region 5 site is within the town of Experiment on West Coast Berbice.  In addition, the loan will include a component to improve overall governance of the sub-sector and the establishment of an institutional framework for the further development of TVET in Guyana.   Initially, the project will benefit 400 students in the two regions who cannot now access TVET.  The students will have an opportunity to acquire […]

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11th July

 CDB and IDB Underscore Importance of Disaster Risk Management for the RegionThe Caribbean Development Bank and the Inter-American Development Bank have agreed to share a summary report of the discussions, approaches and outcomes of a two-day Technical Workshop on the Management of Disaster Risk through Fiscal and Budget Planning with political decision-makers in the Region. The workshop, sponsored by the two institutions, was held at CDB’s Headquarters in Barbados from June 26 – 27, 2006.The workshop was attended by Permanent Secretaries in the ministries of Finance and Planning from borrowing member countries of CDB and IDB, along with national disaster coordinators. The event provided a useful opportunity for initial exploration of financial instruments and exposure to practical tools. However, as a key next step, it was noted that a decision at the political level will be required in order to effectively incorporate disaster risk management into fiscal and budget planning. In this context, CDB and IDB also expressed their commitment to maintain a high-level dialogue on this important […]

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Strategic Plan – Regional Dev

May 25, 2009 No. 12/09-BD CDB TO PROVIDE TECHNICAL ASSISTANCE FOR PREPARATION OF STRATEGIC PLAN FOR REGIONAL DEVELOPMENT  The Caribbean Development Bank (CDB) is to provide a technical assistance grant equivalent to USD200,000 to the Caribbean Community (CARICOM) Secretariat to assist in the preparation of a Strategic  Plan for Regional Development, which was mandated by the Conference of Heads of Government in July 2007.   The Strategic Plan will elaborate the Single Development Vision which was adopted by the Twenty-Eight Meeting of the CARICOM Heads of Government.  The Plan will focus on the economic integration aspects of the Vision. The main objective of this project is the preparation of a regional strategic plan which articulates a shared development vision for the Region as an integrated trade and economic space, and serves as the framework for development planning and programming by CARICOM member countries. Member countries will use the information contained in the Plan to inform development planning and programming at the national level. CARICOM, through the office of the Economic Adviser to the […]

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Bahamas Transportation Project

March 12, 2010 No. 8/10-BD BAHAMAS TRANSPORTATION PROJECT TO GET CDB FINANCING  The Government of The Bahamas is to receive a loan equivalent to USD10.109 million from the Caribbean Development Bank (CDB), and a technical assistance grant equivalent to USD37,000.   This financing is for a project which will improve and sustain access to social and economic infrastructure necessary for employment and income generation in the Family Islands of The Bahamas.  Under the project, Fresh Creek Dock in Central Andros will be rehabilitated, as well as Three Island Dock on Eleuthera.  Deep Creek and Little Creek bridges in South Andros will also be rehabilitated. Technical assistance will also be provided for the preparation of feasibility studies and designs for other road and port infrastructure works proposed for Abaco and Great Exuma. More than 700 islands and cays make up The Bahamas, making adequate air, sea and road infrastructure critical to accessing social and economic services.  By assuring connectivity between, and within, the islands, the project facilitates the further development of the fishing, agriculture […]

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Belize Sugar Cane Replanting

December 9, 2010 No. 51/10-BD BELIZE SUGAR CANE REPLANTING SCHEME GETS CDB AND EU SUPPORT              Sugar cane farmers in Belize will be able to benefit from a loan equivalent to €1.5 million to the Government of Belize.  The Board of Directors of the Caribbean Development Bank (CDB) has given its approval for CDB to act as a financial intermediary for the funds which are being provided by the European Union (EU).               The EU resources will be channelled through CDB within the framework of an agreement between the two institutions. This financing is intended to assist with developing and administering a revolving credit facility for a sugar cane replanting scheme.             Development Finance Corporation (DFC), a development bank which is wholly-owned by the Government of Belize, will be the local agency used to make loans directly to sugar cane farmers, or indirectly through approved financial institutions in the form of credits, for the exclusive purpose of sugar cane replanting.              The decision by the European Union to provide this credit […]

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St. Lucia Youth Business Trust

December 1, 2011 No. 39/11-G ST. LUCIA YOUTH BUSINESS TRUST RECOGNIZES CDB After three years of preparatory work, the St. Lucia Chamber of Commerce Industry and Agriculture launched the St. Lucia Youth Business Trust (SLYBT) on November 15, 2011.   The Launch Ceremony took place at the Governor General’s residence at Morne Fortune.    Keynote speakers included Mr. Christian Husbands and Dr Stephen King, who represented the St. Lucia Chamber of Commerce.  Ms. Marcia Brandon, the Managing Director of the Barbados Youth Business Trust on which the St. Lucia Youth Business Trust is modelled, was the featured speaker and encouraged all stakeholders to continue to support youth entrepreneurship.  During the launch, the Caribbean Development Bank (CDB) was recognized for its commitment and support to the development of youth entrepreneurship in St. Lucia.  CDB has provided assistance towards the operationalization of the SLYBT including facilitating training for staff of the SLYBT through its Caribbean Technological Consultancy Services network located in the Bank’s Private Sector Development Division.  CIBC FirstCaribbean International Bank, and Construction and Industrial […]

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CDB to Fund Projects in Haiti

July 30, 2008No. 18/08-BD   NEWS RELEASE CDB TO FUND TWO PROJECTS IN HAITI             Residents of targeted disadvantaged urban areas of Haiti are to benefit from USD4 million in grant financing from the Caribbean Development Bank (CDB) for a community-driven urban development project.  The grant will provide resources to community-based organisations operating in these urban areas to design and implement sub-projects.                                                                                                    The project is expected to help the Government of Haiti enhance basic social infrastructure such as potable water supply, community roads and markets, and services such as health and education to the residents.   The project is also expected to improve the residents’ income-generating opportunities. Approximately 2,000 jobs are to be created during implementation of the sub-projects.  650,000 persons are expected to benefit directly and indirectly during operations of the sub-projects, based on improved access to services and income-generating activities.  This development would help to reduce poverty in these urban areas.                        The project seeks to improve the capacity of these community-based organisations in participatory development, accounting and […]

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22nd February

 CDB to Host Special Discussion Forum on India The Caribbean Development Bank will host another programme in its series “A Special CDB Discussion Forum” on the topic “Understanding India’s Recent Growth Spurt”. This Forum will be held at the Bank’s Conference Centre at its headquarters in Wildey, St. Michael, Barbados on Friday, March 2, beginning at 10:30 a.m. The featured speaker will be Professor Devesh Kapur, Director of the Centre for the Advanced Study of India and Associate Professor of Political Science at the University of Pennsylvania. He also holds the Madan Lol Sobti Professorship for the Study of Contemporary India. Professor Kapur’s research focuses on human capital, national and international public institutions and the ways in which local-global linkages affect political and economic change in developing countries. He has focused in particular on India and the impact of international institutions and diasporas on India.He is completing a book manuscript under contract with Princeton University Press entitled “Democracy, Death and Diamonds: The Impact of Migration from India on India”. Professor […]

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27th May

 CDB Approves USD111.35 million Country Strategy for St. Lucia The Board of Directors of the Caribbean Development Bank (CDB) has approved a Country Strategy for St. Lucia to govern the Bank’s lending programme in that country for the period 2005 to 2008. The Board approved the Country Strategy at a meeting of the Board at Le Meridien Pegasus in Georgetown, Guyana, on Monday, May 16, 2005, under the chairmanship of President, Dr. Compton Bourne.An indicative programme of financing amounting to USD111.35 million is envisaged in the strategy, which was developed in consultation with public and private sector officials in St. Lucia.The major objective of the strategy for St. Lucia is to enhance sustainable economic growth by strengthening and modernising public utilities and infrastructure; improving the competitiveness of the tourism sector; supporting mechanisms for spreading the benefits of growth and reducing vulnerability to natural hazards and reducing environmental risks. USD6 million Loan to Anguilla Electricity CompanyCDB’s Board of Directors has approved a loan of an amount up to the […]

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Grenada Policy-Based Loan

October 14, 2009No. 23/09 – BD NEWS RELEASE CDB TO PROVIDE POLICY-BASED LOAN TO GRENADA The Government of Grenada is to receive a policy-based loan equivalent to USD12.8 million from the Caribbean Development Bank (CDB).   This loan will support the government’s programme of macroeconomic reforms, which are intended to bolster the near to medium-term fiscal and economic outlook, and assist in improving the impact of the poverty-reduction efforts undertaken by the government.  Disbursement will be based on agreed benchmarks in relation to these policy reforms. A comprehensive reform agenda has been articulated by the Grenada government aimed at, among other things, strengthening financial management in the public sector; consolidating and streamlining revenue streams; and improving the country’s investment climate.    CDB has a broader assistance strategy for Grenada, and this policy-based loan forms part of that strategy.  The Bank’s strategy places emphasis on support for improving the macroeconomic management; improving access to education; strengthening the social policy framework; enhancing access to infrastructure; and enhancing output growth in the agriculture sector.

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