July 30, 2010 No. 35/10-BD CDB DISBURSED USD124.5 MILLION IN FIRST HALF OF 2010 The Caribbean Development Bank (CDB) disbursed the equivalent of USD124.5 million to its Borrowing Member Countries (BMCs) in the first half of 2010. This is up from the USD105.2 million disbursed for the same period in 2009. At its recently-concluded July meeting, the Bank's Board of Directors approved the equivalent of USD125 million in financing to the Bank's BMCs. President, Dr. Compton Bourne, is hailing this development as evidence of CDB's commitment to assisting its member countries in the Caribbean to meet the challenges of the prevailing economic climate. Dr. Bourne pointed to the fact that much of the financing approved will be quick disbursing. For example, Anguilla has already satisfied most of the conditions precedent for disbursement of the USD55 million approved to assist that country in improving its fiscal situation and reducing its debt service burden. The money will be paid in one tranche. In addition to Anguilla, financing was also approved for projects in Barbados, Belize, Dominica, Grenada, Guyana, and St. Vincent and the Grenadines at the CDB Board's July meeting.