CDB Approves Over USD461 Million For Development Projects

The Caribbean Development Bank (CDB) approved over USD461 million in financing for projects in water, renewable energy, education, and health, and to provide budgetary support for governments, underscoring its continued commitment to regional development in 2023. These approvals included USD125 million to The Bahamas and USD43 million to Saint Lucia for public financial management reforms and liquidity support. The funding will also enable interventions to upgrade infrastructure, reduce poverty, build climate resilience, and improve social services. In addition, the institution disbursed a record USD390 million for project implementation and technical assistance in 2023. Speaking at the Bank’s Annual News Conference on Tuesday, February 20, 2024, Director of Projects, Mrs. Therese Turner-Jones said, “Without a doubt, 2023 was an excellent year for the Bank as we moved closer to closing gaps in the region’s sustainable development agenda. Looking ahead to 2024, we anticipate greater advances, as we address outstanding infrastructure and social and economic priorities. Improving health, education, citizens’ security, and economic prosperity in the region remains our laser focus.” Describing how CDB is “Supporting Resilient Prosperity”, Mrs. Turner-Jones highlighted that through the Basic Needs Trust Fund, the Bank has committed USD30 million for nearly 100 projects aimed at reducing poverty...