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CDB's Board of Directors approves millions in loans, grants for 10 Borrowing Member Countries

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May 29, 2017, BRIDGETOWN, Barbados - On Monday May 22, the Board of Directors of the Caribbean Development Bank (CDB), met in Providenciales, Turks and Caicos Islands. It approved the following projects in The Bahamas, Belize, Dominica, Grenada, Guyana, Haiti, St. Kitts and Nevis, St. Vincent and the Grenadines, Suriname and the Turks and Caicos Islands.

THE BAHAMAS -  The Government of the Commonwealth of The Bahamas is set to receive USD100,000 in grant resources from the Caribbean Development Bank (CDB) to undertake a diagnostic study of, and strategic plan for, the Bahamas Development Bank (BDB).

 

BELIZE - The Board of Directors of the Caribbean Development Bank (CDB) has approved a grant of GBP700,000 to the Government of Belize to fund a feasibility study for the upgrading of the Philip S. W. Goldson Highway. The project is being supported through the United Kingdom Caribbean Infrastructure Partnership Fund (UKCIF), which is administered by CDB.

 

DOMINICA - The Board of Directors of the Caribbean Development Bank (CDB) today approved a USD12 million line of credit to the Dominica Agricultural Industrial and Development Bank (DAIDB) to enhance socioeconomic development in the Commonwealth of Dominica.  The loan, under the guarantee of the Government of the Commonwealth of Dominica, will assist in providing finance for student loans, and low and lower-middle income housing that, combined, is expected to benefit 400 people.

 

GRENADA - The Caribbean Development Bank’s (CDB) Board of Directors has approved a USD500,000 grant to the Government of Grenada to undertake a comprehensive reassessment of the T.A. Marryshow Community College (TAMCC). The review will address the adequacy, effectiveness and sustainability of the infrastructure, governance systems and operational procedures of TAMCC.

 

GUYANA - In Guyana, 90 percent of the population live along the coast, which is below sea level at high tide. The communities are protected by a network of seawalls and stone revetments, but these have deteriorated significantly over the years, due in part to the impacts of climate change. On May 22, the Board of Directors of the Caribbean Development Bank (CDB) approved a grant of GBP603,000 to fund a feasibility study and designs for the rehabilitation of the coastal and river infrastructure in the Georgetown area.

The Board of Directors of the Caribbean Development Bank (CDB) has also approved a grant of GBP830,000 to the Government of Guyana, to fund a feasibility study for road rehabilitation between Linden and Mabura Hills, along with plans for a new river crossing at Kurupukari.

 

HAITI - The Board of Directors of the Caribbean Development Bank (CDB) has approved a grant of USD5.5 million to the Government of Haiti to improve climate resilience and disaster risk management on Ile-à-Vache, an island off the country’s southern peninsula.

 

ST KITTS AND NEVIS - The Board of Directors of the Caribbean Development Bank (CDB) has approved a grant of EUR538,000 to support the Government of St. Kitts and Nevis in conducting a climate risk and vulnerability assessment of the coastal road infrastructure, as well as prepare designs for the rehabilitation of two high-priority sites.  

 

ST VINCENT AND THE GRENADINES - The Caribbean Development Bank (CDB) announced today that it will provide funding to help the Government of St. Vincent and the Grenadines improve the resilience of its hydropower electricity infrastructure to climate-related and geophysical hazards. The Bank’s Board of Directors approved the technical assistance project, which will also include financing for a climate risk vulnerability assessment and a multi-hazard risk profile for the country’s electricity sector.