World Bank approves $40 million project to bolster Saint Lucia’s development

The World Bank has given the green light to a project aimed at propelling Saint Lucia towards fiscal stability, enhanced climate resilience, and an improved business landscape.

With an investment of US$40 million, this initiative holds the promise of generating supplementary revenue streams while bolstering resources dedicated to poverty alleviation.

Fostering fiscal sustainability and transparency

Underpinning this venture are two pivotal pillars.

The primary focus will be on catalyzing Saint Lucia’s journey towards fiscal sustainability and bolstering revenue generation.

This endeavor also aims to infuse greater transparency into the country’s financial management practices, ensuring the efficient allocation of resources.

A robust approach to climate change mitigation and adaptation

Simultaneously, the second pillar will channel efforts into climate change mitigation and adaptation.

In line with this objective, the project will play a pivotal role in facilitating the implementation of Saint Lucia’s National Energy Policy and Climate Change Bill.