March 18, 2011 No. 6/11-BD CDB TO CONTRIBUTE USD 1 MILLION TO CARTAC The Caribbean Regional Technical Assistance Centre (CARTAC) is to receive a technical assistance grant equivalent to USD1 million from the Caribbean Development Bank (CDB). The grant is a contribution to a fourth phase of CARTAC's programme for the period 2011-15. CARTAC is one of seven regional technical assistance centres operated by the International Monetary Fund. These centres were established to build country capacity in the areas of macroeconomic and financial management. CARTAC was conceptualised and established in November 2001. From the inception, CDB has provided strong support to CARTAC's operations, in acknowledgment of the pressing needs of the Bank's borrowing member countries to address knowledge and capacity deficits in the areas of macroeconomic management, statistics and financial sector supervision. The CARTAC office is located in Barbados.