CDB to provide funding to support St. Lucia’s most vulnerable

The Barbados-based Caribbean Development Bank (CDB) said Friday it is providing a US$5.2 million loan to the St. Lucia government to help improve the quality of life of the island’s most vulnerable population.

It said the “Safety Nets for Vulnerable Populations Affected by Coronavirus Project – St Lucia,” will expand existing social protection programs to reduce vulnerability and increase social resilience by supporting the basic needs of those disproportionately impacted by the effects of the coronavirus (COVID-19) measures.

The CDB said beyond increasing the resources available for citizens, the project will also address severe challenges in special needs education, and it is in keeping with regional and global commitments to advance equitable, inclusive, and quality education by enhancing access and learning support for this demographic.

“The intervention will address poverty, contribute to easing the economic and social disruptions, temper the pressure on the social protection system, and support the most vulnerable including single-parent households, children with disabilities, children in foster care, and Persons Living with HIV,” said CDB’s Vice President, Operations, Isaac Solomon.

“It will also enable learning continuity of students, as well as at-risk youth whose needs are being met through state-funded institutions,” he added.

The region’s premier financial institution said it has been an important social protection partner for St. Lucia and over the past five decades it has provided significant financial investments and technical support for social protection initiatives to prevent, mitigate and manage the risks faced by vulnerable populations.

CMC