fbpx
spot_img

CDB approves US$306 million in loans last year

In 2016, the Caribbean Development Bank (CDB) approved US$306 million in loans and grants, the highest approval total during the past five years.

Belize, Saint Lucia and Suriname were the three largest beneficiaries of loans of the countries for which funding was approved. The announcement was made Dr. William Warren Smith, CDB President, during the Bank’s Annual News Conference in Barbados on Friday.

Dr. Smith pointed out that, in addition to the grants approved in 2016, the Bank began implementing the United Kingdom Caribbean Infrastructure Partnership Fund (UK CIF). UK CIF is a £300 million grant programme for transformational infrastructure projects in eight Caribbean countries and one British overseas territory, which CDB administers. £16.4 million in grants was approved for projects and technical assistance in Antigua and Barbuda, Belize, Dominica and Grenada.

Dr. William Warren Smith, CDB President
Dr. William Warren Smith, CDB President
- Advertisement -

“We reached noteworthy milestones in deepening our strategic partnerships and successfully mobilising financial resources that our BMCs can use to craft appropriate responses to their development challenges,” said Dr. Smith, noting that UK CIF was among the Bank’s partnership highlights in 2016.

Last year, the Bank also signed a Credit Facility Agreement with Agence Française de Développement. It included a US$33 million loan to support sustainable infrastructure projects and a EUR3 mn grant to fund feasibility studies for projects eligible for financing under the credit facility.

Also in 2016, CDB entered an arrangement with the Government of Canada for the establishment and administration of a $5 million Canadian fund to build capacity in the energy sector, The Canadian Support to the Energy Sector in the Caribbean Fund.

- Advertisement -

These recent partnerships are part of the Bank’s drive to raise appropriately-priced resources mainly for financing projects with a strong focus on climate adaptation, renewable energy and energy efficiency.

Other Articles

Latest Articles

[class^="wpforms-"]
[class^="wpforms-"]
Skip to content