May 23, 2011 No. 15/11-BD BVI to Receive Natural Disaster Management Loan from CDB The Board of Directors of the Caribbean Development Bank (CDB) has approved a loan to the Government of the British Virgin Islands (BVI) equivalent to USD 15.67 million for a natural disaster management project. Approval was granted at a Meeting of the Board in Port of Spain, Trinidad and Tobago. The project is designed to assist the BVI in rehabilitating infrastructure damaged by Tropical Storm Otto, while reducing risks associated with heavy rainfall. This assistance will have three main components - rehabilitating and reconstructing road and drainage infrastructure to internationally acceptable standards; providing institutional strengthening by conducting a drainage assessment for storm-water flood risk reduction in the Road Town catchment area, and providing assistance for drafting regulations pursuant to the Physical Planning Act, 2004. The project will be implemented by the Ministry of Communications and Works, and infrastructure works will be undertaken in Tortola, Virgin Gorda and Jost van Dyke.