Policy Based Loan - Anguilla (2014)

The adverse effects of the global financial crisis in 2008 resulted in a sharp contraction of Anguilla’s Gross Domestic Product (GDP) and a significant deterioration in public finances. In view of the threat that was posed to Anguilla’s ability to meet its debt obligations, support its fiscal adjustment programme, shore up deteriorating public finances and stave off of a rapid build-up in short-term debt, the United Kingdom Government (UKG) approved Anguilla’s decision to approach the Caribbean Development Bank (CDB) to request a Policy-Based Loan (PBL) to support its fiscal adjustment programme and to restructure its debt portfolio.

Basic Education Project - Antigua and Barbuda (2014)

In December 1997, the Caribbean Development Bank (CDB) approved a loan in the amount of US$10.64 million (mn) to the Government of Antigua and Barbuda (GOAB) to assist in financing the Basic Education Project (BEP); and a grant to GOAB of US$92,000 for consulting services to assist in the implementation of the project. GOAB and the Board of Education (BOE) provided counterpart funding of $0.82mn and $3.12mn respectively to meet the remaining project costs. The total investment cost of the project was $14.67mn.

Disaster Mitigation and Restoration: Rockfall and Landslip - Grenada (2014)

Since the early 1970s, landslides have presented a direct safety hazard to persons living in affected areas or using the major roads along Grenada’s coasts and have posed a threat to the coastal road infrastructure. Three of the major roads in Grenada that form the arteries of the Strategic Highway Network are the Western Main Road; the Eastern Main Road; and the Grand Etang Road. Damage on these roads resulting from hurricanes Ivan and Emily had increased the risk factor (to medium and high) for many of the vulnerable sites where road collapse from landslides and erosion was imminent and posed considerable risk to human life, private and public property, natural assets, economic production, and communication and transportation infrastructure. Given the vital role of the road network and the major impact and disruption caused to the economy and society, GOGR decided to assess and address the risks and vulnerability of 42 sites.

Natural Disaster Management Immediate Response Loan: Tropical Storm Gustav - Jamaica (2014)

Over the period August 28-29, 2008, Tropical Storm Gustav impacted Jamaica. Many communities in Kingston, St. Andrew and Portland were affected by flooding, wind damage and landslides with a few cases of storm surge. Considerable damage was sustained to the main road network, including the collapse of two major bridges. For example, extreme flows in the Hope River caused the Hope River Bridge on the A4 Highway (the main transportation link between the capital city, Kingston and the Parish of Saint Thomas) in Harbour View to collapse. On September 9, 2008 CDB received a formal request from GOJ for an Immediate Response Loan (IRL) for cleaning and clearing of debris and restoration of essential services affected by Tropical Storm Gustav. On October 7, 2008, CDB approved 500,000 United States dollars (USD500,000) to assist GOJ in financing the cleaning and clearing of debris and restoration of essential services; and USD20,000 to assist in financing consultancy services to provide independent inspection and certification of works in connection with the project. The project was also financed by USD520,000 in counterpart funding from GOJ.

Natural Disaster Management Immediate Response Loan: Tropical Storm Gustav - Jamaica (2014)

Over the period August 28-29, 2008, Tropical Storm Gustav impacted Jamaica. Many communities in Kingston, St. Andrew and Portland were affected by flooding, wind damage and landslides with a few cases of storm surge. Considerable damage was sustained to the main road network, including the collapse of two major bridges. For example, extreme flows in the Hope River caused the Hope River Bridge on the A4 Highway (the main transportation link between the capital city, Kingston and the Parish of Saint Thomas) in Harbour View to collapse. On September 9, 2008 CDB received a formal request from GOJ for an Immediate Response Loan (IRL) for cleaning and clearing of debris and restoration of essential services affected by Tropical Storm Gustav. On October 7, 2008, CDB approved 500,000 United States dollars (USD500,000) to assist GOJ in financing the cleaning and clearing of debris and restoration of essential services; and USD20,000 to assist in financing consultancy services to provide independent inspection and certification of works in connection with the project. The project was also financed by USD520,000 in counterpart funding from GOJ.

Social Investment Fund - Jamaica (2014)

In 1996, GOJ established JSIF Limited as one instrument in its poverty eradication programme and to execute the fifty million United States dollars (USD50 mn) JSIF project (JSIFP). JSIFP was financed by GOJ and loan and grant resources from various agencies. The main objective of JSIFP was to enhance the living conditions of poor communities through the provision of basic social and economic infrastructure.

Expansion of the Grantley Adams International Airport - Barbados (2013)

Over the period 1980-1997, aircraft movements and passenger traffic at Grantley Adams International Airport (GAIA) grew at an average annual rate of 2.8 per cent (%) and 1.4%, respectively. The existing airport facilities were originally designed to facilitate up to 2.2 million (mn) enplaning/deplaning passengers annually with a peak hour handling capacity of 1,200 persons. In 1993, due to the size of aircrafts utilized, GAIA had begun to experience peak hour loads of over 1,300 persons. In addition, serious structural deficiencies/distress (extensive cracking and deformation) were identified in the wearing surface runway and main taxiway.

Fifth Water Supply Project - Saint Lucia (2013)

At appraisal, it was estimated that 75 per cent (%) of the population of St. Lucia had direct water service connections to their homes, with the balance dependent on public standpipes. Approximately 50% of those with direct water service connections were provided with a reliable 24-hour water supply; and the remainder received water only on specific days and times. WASCO delivered water by truck to provide relief to households without direct connections. The service coverage for sewerage was only 10%. Other challenges included wasteful consumption, measurement and control of unaccounted for water (UFW), and the need to improve water quality reliability. In addition, it was assessed that WASCO lacked an appropriate legal, regulatory and institutional framework and financial capacity to adequately manage the sector and realize service improvements.

Assessment of the Effectiveness of the Policy-Based Lending Instrument 

A summary of the assessment of the effectiveness of the Policy Based Lending Instrument of the CDB. Structure includes:BackgroundContextInstitutional CapacityRecommendations

Enhancement of Technical and Vocational Education and Training - Belize (2012)

During 1999, MOES in Belize commissioned several studies involving the primary, secondary and Technical and Vocational Education and Training (TVET) sub-sectors. These studies informed the development of the Belize Education Sector Strategy 1999-2003. The study of the TVET sub-sector identified the need to develop a more effective system to ensure that it provided occupational competencies which were suitable and relevant to the local labour market and would better serve the needs of business and industry; facilitate and support the introduction of new and emerging technologies; and act as a catalyst for attracting new investments. There was also need for a system capable of addressing the requirements of diverse populations, including existing members of the labour force, who needed to update their skills; secondary school graduates preparing for the job market; and candidates from non-formal, pre-vocational programmes who needed to better themselves to enter the job market.