St. Lucia Line of Credit
October 14, 2009No. 25/09 - BD NEWS RELEASE CDB LINE OF CREDIT FOR BANK OF ST. LUCIA The Bank of Saint Lucia Limited should soon be in possession of additional funds to assist in financing its lending programme. The Caribbean Development Bank (CDB) has approved a consolidated line of credit equivalent to USD 20 million to the Bank of Saint Lucia, which is a wholly-owned subsidiary of East Caribbean Financial Holding Company, a publicly held company based in St. Lucia. This financing will provide the Bank of Saint Lucia with medium to long-term resources for onlending to private sector sub-borrowers in the country's productive sector, and for tertiary education. Some of the outcomes of this project include increased investments by export-oriented enterprises operating in the agricultural, industrial, Tourism and services sectors; improved competitiveness of enterprises in the productive and service sectors; increased foreign currency earnings; poverty alleviation through increased employment; and human capital development through upgrading of skills at the technical, vocational and professional levels.