Grant Agreement – BNTF

May 25, 2009

 

No. 13/09-BD

 

CDB AND TCI SIGN GRANT AGREEMENT FOR BASIC NEEDS TRUST FUND

 

The Caribbean Development Bank (CDB) and the Government of the Turks and Caicos Islands (TCI) have signed a grant agreement for USD0.559 mn to be used for sub-projects under the sixth cycle of the Bank’s Basic Needs Trust Fund (BNTF) programme.  The agreement was signed today in Providenciales, TCI, where CDB’s Annual Meeting is taking place.

 

BNTF 6  will  assist  poor  communities  in  ten CDB borrowing member countries  improve  basic  infrastructure  and  services,  and  increase  potential  for economic   activity   through   skills   training   and   capacity-building initiatives.  The programme will provide resources for implementation of sub-projects, project management and technical services.  It will also provide support to improve the capacity of community-based organisations in the application of participatory approaches for planning and monitoring of sub-projects and decision-making. The regional component will provide programme support, coordination and administration.

 

CDB is providing USD0.317 mn, while TCI is contributing USD0.242 mn, bringing the sum available to TCI to USD0.559 mn.  Of this amount, a total of USD0.384 mn will be available for funding eligible BNTF 6 sub-projects. The funds will be committed to sub-projects over the period 2008 to 2011 and disbursed between 2009 and 2012.

 

The sub-project selection categories and sub-categories are: Basic community Infrastructure; Water and Sanitation; Education; Day-Care Centres for Children; Health; Physical Welfare of Vulnerable Persons; Production-Related Infrastructure; Access; Maintenance; and Skills and Capacity Enhancement Training.

 

CDB President, Dr. Compton Bourne, signed the agreement on behalf of the Bank, while the Hon. Royal Robinson, Finance Minister of the Turks and Caicos Islands, signed on behalf of his country.