Caribbean Development Bank announces projects across the region

The board of directors of the Caribbean Development Bank (CDB) have announced a the approval of a number of projects across the region.

Members met in Providenciales, Turks and Caicos Islands, last week to discuss future plans.

The government in The Bahamas is set to receive US$100,000 in grant resources to undertake a diagnostic study of, and strategic plan for, the Bahamas Development Bank (BDB).

Funding of £700,000 ($2,427,600) has been approved for a feasibility study for the upgrading of the Philip SW Goldson Highway.

The project is being supported through the United Kingdom Caribbean Infrastructure Partnership Fund, which is administered by the CDB.

A US$12 million line of credit to the Dominica Agricultural Industrial and Development Bank (DAIDB) has been approved to enhance socioeconomic development.

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.

A comprehensive reassessment of the TA Marryshow Community College by the Grenada government has been granted US$500,000.

The review will address the adequacy, effectiveness and sustainability of the infrastructure, governance systems and operational procedures of the college.

A grant of US$5.5 million has been given to the government to improve climate resilience and disaster risk management on Ile-à-Vache, an island off the country’s southern peninsula.

Support has been given in the form of €538,000 ($1,624,000) to go towards 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.

The Caribbean Development Bank will provide funding to help the Government improve the resilience of its hydropower electricity infrastructure to climate-related and geophysical hazards.

The technical assistance project will also include financing for a climate risk vulnerability assessment and a multi-hazard risk profile for the country’s electricity sector.