Market Access and Rusal Enterprise Development Project - Grenada (2023)

Opportunities for economic advancement in rural Grenada were concentrated in the agriculture and fisheries subsectors with linkages to micro and small-scale enterprises, however, the agriculture sector suffered from limited investment in production technology and marketing systems and the absence of a business approach to enterprise development. This affected the ability of small farmers to compete favourably in the sector and penetrate higher-end markets for their agricultural output. Consequently, the Government of Grenada (GOGR) embarked on a transformation programme aimed at improving the performance of agriculture in the rural economy. Funding was required to support this initiative which sought to increase sector output and competitiveness and the ability of small farmers to respond to increasingly stringent market demands. On October 21, 2010, the Board of Directors of the Caribbean Development Bank approved a loan in the amount of three million United States dollars (USD3 mn) to the GOGR for the joint financing of the Market Access and Rural Enterprise Development Project. The overall objective of the project was to enhance the livelihood of rural households through the strengthening and establishment of rural businesses/clusters; the upgrading of technical and business skills among rural enterprises; strengthening value chains and fostering better linkages between production and markets; and the provision of affordable credit. The assessment focused on the core evaluation criteria of relevance, effectiveness, efficiency and sustainability, as well as the complementary criteria of CDB and Borrowers’ performance.

Enhancement of Technical and Vocational Education and Training - Guyana (2023)

In April 2009, CDB approved a loan in the amount of seven million five hundred thousand United States dollars (USD7.500 mn) to the Government of Guyana (GOGY) to contribute to sustainable economic and social development through increased productivity. GOGY contributed Counterpart Resources of USD2.122 mn. The project’s overall objective was to foster an enhanced Technical and Vocational Education and Training (TVET) system. The intended results of the project were: (a) modern and well-equipped Technical Institutes (TIs) in Regions 3 and 5; and (b) an institutional framework for the development of the TVET sub-sector.

Policy Based Loans - Antigua and Barbuda and Grenada

The Economics Department agrees with the finding of the Antigua and Barbuda and Grenada PCR Validation Reports. The Bank accepts the lowering of the Highly Satisfactory Sustainability rating for the Grenada PBL, which was too optimistic a rating, given that there is never full certainty as to whether project level benefits will be sustained. However, the Economics Department differs on the justification provided for lowering the sustainability rating.

Education for All - Haiti (2023)

In May 2007, the Caribbean Development Bank (CDB) approved a grant in the amount of ten million United States dollars (USD10 mn) to the Government of the Republic of Haiti (GOH) for the Education For All Project. In December 2013, CDB approved an Additional Grant in the amount of USD10 mn in response to the disruption of education services caused by an earthquake that devastated the country in January 2010. There was a counterpart contribution of USD2.50 mn. The project’s overall objective was to contribute to social and economic development through a better-educated population. The goal was to increase access to primary education for disadvantaged children by: (a) strengthening public and non-public sector partnerships, (b) enhancing school management capabilities to increase access, and (c) improving equity and monitoring learning outcomes at the primary level. The assessment focused on the project’s relevance, effectiveness, efficiency, sustainability, and CDB's and the Borrower’s performance.

Review of CDB's Education and Training Policy and Strategy 2017

The Caribbean Development Bank (CDB) has a long history of engagement in the education and training sector, which is one of the Bank’s core areas of work. The current guiding framework for CDB’s work in the sector is the 2017 Education and Training Policy and Strategy (ETPS). The overall goal of the 2017 ETPS is to improve the quality of education in Borrowing Member Countries (BMCs), leading to increased learner outcomes producing a qualified, capable and representative workforce of diverse individuals, to reduce poverty and achieve inclusive social and economic development for the Region.This review was commissioned by CDB’s Office of Independent Evaluation (OIE) to assess the performance of CDB’s work in the education and training sector from 2017 to 2021 and inform an update or renewal of the ETPS by drawing lessons and making recommendations to improve the development effectiveness of the Bank's future strategies and programming. The review was framed primarily as a formative exercise to inform strategic questions about CDB’s contributions and its current role in the sector. It was conducted by Universalia Management Group (Universalia or UMG) from February 2022 to April 2023.

Jamaica Country Strategy and Programme Evaluations 2014-2016 and 2017-2021

This independent evaluation report covers two Jamaica Country Strategy and Programme (CSP) periods (2014-2 - 2016 and 2017-2021), including projects which fall under these CSPs and are completed or still being implemented.This evaluation examines the extent to which the Bank’s programme in Jamaica has achieved its intended outcomes and targets. It is intended to inform the Bank’s new Country Engagement Strategy (CES) which is expected to be finalised in 2023. The evaluation also aims to offer lessons and recommendations that may be used to course-correct CSP interventions that are still under implementation; improve development effectiveness going forward; and to provide options for the Bank’s consideration in its future engagement with Jamaica. It also serves to complement and add depth to the 2017-21 Strategy Completion Report, which was completed shortly before the evaluation started.

Suriname Country Strategy and Programme Evaluation

This evaluation is the first by the Office of Independent Evaluation of the Caribbean Development Bank’s (CDB) Country Strategy and Programme in Suriname. It covers the Country Strategy Paper (CSP) (2014-18) and more recent developments up to 2020, including the first months of the new government.Suriname is the newest borrowing member of CDB, having joined in 2013. At that time, it was seen as a country which had made significant development strides in a relatively short time frame, with an expectation of anchoring growth on a platform of deep structural reforms. Bank membership offered Suriname a means of furthering its economic integration in the Region, while for CDB, developing a new programme in Suriname offered a route to expanding its borrowing membership and diversifying its loan portfolio in what was then a relatively benign credit risk environment.This positive starting point was not sustained for long. Soon after the CSP was approved, the economic situation deteriorated sharply. In 2015-16, there was a sharp recession, and Suriname needed support from the International Monetary Fund (IMF), as well as CDB and the Inter-American Development Bank (IDB). The government at the time had limited success in delivering on key reforms such as reducing fuel subsidies. The new government which came in during 2020 is now seeking to address economic challenges exacerbated by COVID-19, again requiring IMF support.

Student Loan Scheme - Jamaica (2012)

On December 12, 2012, the Board of Directors of the Caribbean Development Bank (CDB) approved a loan in the amount of 20 million United States dollars (USD20 mn) to assist SLB to finance its lending programme for financial year 2012/13. A Technical Assistance grant component valued at USD175,000 was included for the institutional strengthening of Students' Loan Bureau. Project completion was projected for March 2013, however actual completion occurred in March 2014.

Fiscal Consolidation, Growth and Social Stability Policy-based Loan - Jamaica (2022)

The years following the 2008-09 global financial crisis and leading up to the approval of the Fiscal Consolidation, Growth, and Social Stability Policy-Based Loan (PBL) in late 2014 were marked by difficult economic conditions in Jamaica, including worsening fiscal imbalances and a growing debt overhang, stagnating output, and deteriorating social conditions. Despite efforts to contain public expenditure, notably via a debt exchange in 2010 that resulted in major interest savings, public revenue declined as a result of the contraction in economic activity. As a result, public debt continued to rise steadily, peaking at 146 per cent (%) of Gross Domestic Product (GDP) at the end of Fiscal Year (FY) 2012/13. Real GDP declined at an average rate of 0.8%, contracting every year except 2011. Output performance was reflected in labor market indicators as unemployment rose steadily through the period 2008-2013, reaching 14.9% (10.6% for males and 18.3% for females) by October 2013. Among other social challenges, the national poverty rate, at 9.9% in 2007, had more than doubled to 20% by 2014. The PBL was a two-tranche 35 million (mn) United States dollars (USD) operation approved by the Board of Directors (BOD) on December 11, 2014 and became effective on December 19, 2014. The first tranche amounted to USD25 mn, consisting of USD15 mn from the Caribbean Development Bank’s (CDB) Special Fund Reserves (SFR) and USD10 mn from CDB’s Ordinary Capital Resources (OCR), and was disbursed at end-December 2014. The second tranche of USD10 mn from CDB’s SFR was disbursed in December 2015, three months ahead of the scheduled date of March 2016. The PBL was part of a coordinated effort by several partners (International Monetary Fund (IMF), InterAmerican Development Bank (IDB), and World Bank (WB) together with CDB) to support the Government’s stabilization program, as part of a coordinated development partner response to Jamaica’s economic context. Its objectives were threefold: support reforms that were geared towards: (a) achieving fiscal and debt sustainability; (b) improving the business environment with a view to achieving sustainable growth rates above 2%; and (c) mitigating the potential adverse impacts of the program on the more vulnerable groups in society.

Evaluation of Community Disaster Risk Reduction Fund 2012-2020

The Caribbean Development Bank’s (CDB) Office of Independent Evaluation has undertaken a final evaluation of the Community Disaster Risk Reduction Fund (CDRRF) and its eight sub-projects to assess their relevance, coherence, efficiency, effectiveness, and sustainability. The evaluation covers the implementation period of the Fund from 2012-2020 in four Borrowing Member Countries (BMCs): Jamaica, Belize, St Vincent and the Grenadines (SVG), and the British Virgin Islands (BVI).The CDRRF is a multi-donor trust managed by the CDB, with contributions from the Government of Canada, the European Union and the CDB, that was established in 2012 to help community members and groups to reduce their vulnerability to risks associated with natural disasters and to adapt to a changing climate.