By: Staff Writer
March 25, 2025
The Caribbean Development Bank’s president Daniel Best said at the institution’s annual press conference last week Thursday that they have disbursed $323 million in loans and grants throughout the region.
Best added: “While these investments will go a long way towards enhancing the lives of Caribbean people, I would like to highlight just one example of our responsiveness when Hurricane Beryl devastated sections of Saint Vincent and the Grenadines and Grenada. Within 72 hours of the storm, CDB deployed personnel to affected areas to provide emergency support and approved a US $5.5 million relief package to each country.
“As we look forward to the future, with all its uncertainties, but more so, it’s opportunities, I can think of no other word that encapsulates my vision for the bank than Rebirth.
“Rebirth signals the bank’s renewed focus on delivering excellence to the people of this region, we will practice excellence in each stage of every process, whether we are providing policy advice, appraising and implementing projects in our countries, or formulating country engagement strategies as we support our Caribbean in the march towards the achievement of the Sustainable Development Goals.”
Best continued: “Excellence will be our hallmark. This excellence and renewed commitment to the people of the region has never been more appropriate than now.
“Our region faces uncertainties that we have never before contemplated geopolitical tensions arising from inward looking or nationalistic policies have the potential to stymie trade and growth, and the withdrawal of financial aid and technical cooperation places our already vulnerable populations at even greater risk.
The CDB has been engaging in regional discussions to better understand the scale and the scope of the challenges confronting their clients and share shareholders, Best said. “We stand ready to support the people of the region as they navigate these uncertain times. The bank recognizes that it cannot address the region’s issues by itself, and so partnerships and resource mobilization will be key tools in our arsenal.”
Best also said: “After more than a year of discussions, we agreed a US $460 million programme for the 11th cycle of the fund.
“This historic $460 million program comprises grants and concessional loans that will see the bank play an even greater role in addressing poverty alleviation and human development across our borrowing member countries.
“This 11th cycle covers the period from 2025 to 2028 and aims to boost environmental resilience with at least 35 percent of resources targeted towards climate financing.
“This will support adaptation and mitigation projects post disaster interventions, disaster risk management and biodiversity preservation, production resilience to strengthen private sector development and improve economic infrastructure, social resilience to enhance educational outcomes and social protection systems.”