Highlights of CDB's Activities in 2013: Economic Developments and Prospects

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Bahamas ZNS' Betty Thompson with Dr. Smith Barbados Advocate's Nadia Brancker CMC's Sandy Deane Media from across the Region attended the conference media conference audience Members of CDB's senior management Officer in Charge of Projects, Ms. Deidre Clarendon Deputy Director- Economics, Mr. Ian Durant Director- Economics, Dr. Justin Ram President, Dr. Wm Warren Smith Previous Next Go to slide 1Go to slide 2Go to slide 3Go to slide 4Go to slide 5Go to slide 6Go to slide 7Go to slide 8Go to slide 9Go to slide 10 The Caribbean Development Bank (CDB) recorded a strong recovery in loan approvals and disbursements in 2013. Sustained improvements in global growth and the strengthening of regional economic performance as well as improved efficiencies and strengthening of internal controls provided the backdrop for the turnaround in Bank operations during the year. Loan approvals totaled United States dollars (USD)139 million (mn), up 34% from USD104 mn in 2012. Similarly, total disbursements amounted to USD186 mn in 2013, some 60% above disbursements of USD116 mn in 2012. The Bank's interventions in human resource development in its borrowing member countries (BMCs) continued to promote the development of the skills and competencies required to foster growth. This emphasis is consistent with CDB's commitment to expanding the pool of Caribbean citizens capable of leading productive lives in an internationally competitive environment. The investments in education and training in 2013 were, therefore, channeled in two complementary pathways for economic growth and competitiveness. First, CDB continued to support expanding the quality of basic education, so that graduates can successfully transition to higher education and training opportunities or acquire skills for entry level employment. An amount of USD24.5 mn was approved for both Antigua and Barbuda and the Republic of Haiti to enhance instructional effectiveness and expand opportunities for children to complete primary and secondary education. Second, USD22.8 mn was approved for post-secondary and tertiary education in Anguilla and the University of the West Indies' Open Campus programme. Agriculture represents an important vehicle for reinvigorating regional economic growth whilst reducing unemployment and poverty rates. As part of a broad strategy to encourage the expansion of traditional export crops where viable markets exist, strengthen agro-Tourism linkages and promote the development of non-traditional high value products, CDB has been emphasising agricultural research and development and building climate resilience. In this regard, the Bank approved a USD625,000 grant to the Caribbean Agricultural Research and Development Institute (CARDI) for the development of an integrated disease management programme for controlling Black Sigatoka disease in Dominica, Guyana, St. Lucia and St. Vincent and the Grenadines. The disease has the potential to devastate the banana and plantain industries in the Region. Read full article here in PDF format (266 KB) View full PowerPoint presentation here (1.09 MB)

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