CDB Congratulates Jamaica on Utilisation of Poverty Reduction Fund

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The Caribbean Development Bank (CDB) has congratulated Jamaica on its utilisation of the Basic Needs Trust Fund (BNTF) 6th programme, the Bank's principal programme for direct poverty reduction in the region for more than three decades. Jamaica is one of 10 Caribbean countries benefiting from the BNTF. To date there have been seven replenishments of the fund. Mrs. Darran Newman Belgrave, BNTF Portfolio Manager, CDB, noted, "Under BNTF6, USD5 million was allocated for Jamaica, with additional resources made available for technical services. We are in the process of completing the final projects across the Region under BNTF6, and Jamaica has done a commendable job of completing its projects, making it one of the countries with the highest percentage of approved amounts disbursed. This indicates the effort to ensure that the funds are reaching the communities in Jamaica, enhancing the productive potential of the poor." In its seventh replenishment, BNTF 7 has allotted grant funding of USD6.89 million to Jamaica targeted primarily for education, sanitation and community access roads. Projects will be executed in communities islandwide with 52 per cent of funds committed to school infrastructure and human-resource development; 24 per cent to community access roads and draining; and the remaining 24 per cent to water and sanitation. Mrs. Newman Belgrave highlighted that the BNTF which commenced in 1979, is still of great relevance to its participating countries. "The most recent evaluation done in 2012 confirms the programme is fulfilling the objective of directive poverty reduction - targeting the poorest and most vulnerable. We are in the process of completing the Poverty Reduction Action Plan (PRAP) which is a key foundation to ensure that the funds reach the identified target groups and of continuous relevance to them. PRAP is an evidence-based assessment done at the beginning of every BNTF cycle." Excerpts from:

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