CDB Approves USD16.9 million for Redeveloping Harrison's Cave in Barbados The Caribbean Development Bank (CDB) is providing financial assistance for a project which will enhance Barbados' national Tourism product. The Bank's Board of Directors has just approved a loan equivalent to USD16.9 million to assist in financing the expansion and upgrading of Harrison's Cave - one of Barbados' most popular land-based tourist attractions. Approval for the financing was given at a meeting of CDB's Board of Directors held at the Bank's Headquarters in Barbados, on July 13, 2006. This follows the approval of a technical assistance loan of USD3.5 million in May of this year to the Government of Barbados for the modernisation of the regulatory environment in the country's financial sector.Harrison's Cave is a natural phenomenon comprising subterranean passages with stalactites and stalagmites, lakes, streams and waterfalls. Electrically operated trams provide transportation for visitors through the extensive system of caves. It is the only "drive in" cave in the Caribbean, and one of only three offering this experience in the world. The loan to Caves of Barbados Limited, a state-owned limited liability company which manages Harrison's Cave, will be under the guarantee of the Government of Barbados. USD11 million CDB Loan Approved for Upgrading and Expanding Jamaica's Norman Manley International AirportFacilities at the Norman Manley International Airport in Kingston, Jamaica, are to be upgraded with financial assistance from the Caribbean Development Bank. At its meeting of July 13, 2006, CDB's Board of Directors approved a loan equivalent to USD11 million to Norman Manley International Airports Limited, which manages and controls the operations of the airport under a licence from the Jamaica Civil Aviation Authority.The project consists of the design, Construction and commissioning of a new passenger departure terminal and an upgraded arrival terminal, with supporting airside and landside infrastructure. It includes consulting engineering and architectural services and project management. Norman Manley International Airport was built in 1961, and even though it has undergone a number of ad hoc expansions at different times since its Construction, it can no longer provide the required level of service for its current or projected passenger levels. Therefore the project seeks to increase the airport's capacity to cater for projected air and passenger traffic at an acceptable level of service to the year 2033.The project should therefore lead to an improved operating environment for travellers and employees, a better quality of service offered by concessionaires and improved operational efficiency of the airport, which is located in Jamaica's capital, Kingston. CDB to Assist UWI in Establishing a Consultancy FirmCDB is providing a grant equivalent to USD150,000 to the University of the West Indies to assist it in establishing a consultancy firm to institutionalise the expert advice which it provides to Caribbean governments, regional agencies and businesses on a variety of social and economic issues. The establishment of this firm should also help the university to strengthen its finances. UWI is an autonomous regional institution supported by and serving fifteen countries in the region. Regional governments have traditionally provided the largest share of UWI's revenue, with fees and other income representing significantly smaller sources of income. However, during the last five years UWI has experienced severe and unexpected cuts in its funding from regional governments. This situation, coupled with competition from extra-regional institutions, has forced the university to explore a range of revenue-generating measures.The university has provided expert services on a pro bono or fee basis within and outside the region, but this service has been offered on an ad hoc basis by individuals and units across the three UWI campuses. The new university-wide consultancy firm will be a registered legal entity. Consultants will be engaged to guide UWI in this process. They will devise systems, procedures and structures to ensure that the established consultancy firm generates and delivers high quality services to a range of clients. Recent CDB assistance to UWI has included a USD150,000 grant to assist in strengthening early childhood development, a USD40,000 grant to assist with the costs of research on the financing of tertiary education in the Anglophone Caribbean, as well as a USD150,000 grant to finance the cost of a symposium on the same subject of financing tertiary education.CDB Assisting with Upgrading Environmental Monitoring of Road Construction in JamaicaEnvironmental monitoring of Construction on Jamaica's Northern Coastal Highway Improvement Project should soon be considerably improved, particularly on the CDB-financed segment of the project. The people who use this highway, or whose homes or businesses are located in the vicinity, should see improvements in the signage, traffic management and quarry management, as well as in dust control.That will be partly due to a technical assistance grant to the Government of Jamaica equivalent to USD60,000 which CDB's Board of Directors has approved. This financing will assist that country's National Environment Planning Agency to improve its capacity for environmental monitoring of road Construction and rehabilitation works by engaging an environmental engineer. It will also enable the agency to develop appropriate policies and guidelines for monitoring after environmental permits have been granted. In addition, the funds will help establish an ambient air quality monitoring station network and allow for data collection.Last October, CDB's Board approved a loan of USD54.1 million to assist the Government of Jamaica in financing the reConstruction or Construction of approximately 27.4 kilometres of highway between Montego Bay and Falmouth on the island's north coast. This segment forms part of the larger Northern Coastal Highway Improvement Project.Work on the CDB-financed segment of the highway began on May 2nd this year, and is expected to take eighteen months to complete.