CDB FINANCES BASIC EDUCATION PROJECT IN ANTIGUA AND BARBUDA

The Caribbean Development Bank (CDB) will provide a grant equivalent to USD400,000  to the Government of Antigua and Barbuda to assist in conducting a series of studies towards the preparation of a second Basic Education Project.  The outcomes of these studies will provide a framework for CDB’s intervention in the education sector in Antigua and Barbuda, and for informing the government’s longer-term strategic reform of education.

Consultants will be engaged to assist in gathering up-to-date information, and providing analyses on the key aspects of the sector which would help inform decision-making about the overall design of the project.  In particular, the information gathered by the consultants will inform the specific elements should be funded.

The first phase will entail the conduct of studies which will contribute to the establishment of a framework for undertaking coordinated and systematic interventions in the education sector, while the second phase will look at the most feasible options for addressing some of the issues and challenges identified in the sector plan.


PORT RATIONALISATION STUDY FOR ST. VINCENT AND THE GRENADINES TO GET CDB FINANCING

The Board of Directors of the Caribbean Development Bank (CDB) has approved a loan equivalent to USD431,000 to the Government of St. Vincent and the Grenadines to undertake a Port Rationalisation and Development Study. 

The importance to the economy of an efficient and modern maritime sector, as well as the need to provide adequate and appropriate port facilities for both passengers and cargo, make it necessary to examine port development in a state-wide context.  This will be done with a view to meeting existing demand and projected increases in demand which are likely to result from developments during the first half of the twenty-first century.

Physical facilities at Port Kingstown have deteriorated to the extent that all container/cargo operations, with the exception of banana-related cargo, have been moved to the Campden Park Container Port.

Phase 1 of the project will consist of a rationalisation study, together with a master plan for port development in St. Vincent an the Grenadines.  Phase 2 will consist of a framework of development plans for Port Elizabeth Harbour-Front in Bequia, providing for future landside and marine development at the port.  The St. Vincent and the Grenadines Port Authority will be the implementing agency.


BASIC EDUCATION ENHANCEMENT PROJECT IN ST. LUCIA GETS CDB FINANCING

Almost 4,000 students currently enrolled in five primary and three secondary schools in St. Lucia, and the 200 teachers who work in these schools will benefit from a project to be financed by the Caribbean Development Bank (CDB).

CDB’s Board of Directors has approved a loan equivalent to USD12 million to the Government of St. Lucia, for a Basic Education Enhancement
Project.  It involves the rehabilitation and upgrading of the eight target schools, and a quality enhancement component aimed at improving access to quality education in St. Lucia. 

Approximately 1,300 teaching staff at the primary and secondary levels will benefit from training geared to enhance competencies in key subjects and non-academic areas such as early childhood screening and diagnosis, multi-grade teaching methods, classroom management, differentiated instruction, student assessment, multi-media teaching methodology and technology in education.

This project follows on from an Economic Recovery Project for St. Lucia financed by CDB in 2003, which comprised the rehabilitation and upgrading of primary schools, and accords with the Government of St. Lucia’s strategy for education, based on its Education Sector Development Plan.



CDB FINANCING PORT DEVELOPMENT PROJECT IN ANGUILLA

The Caribbean Development Bank (CDB) has approved a loan equivalent to USD18 million to the Government of Anguilla.  The funds are to be used to finance the construction of new landside facilities at Blowing Point Ferry Port, the main port of entry into Anguilla.

The objective of the project is to upgrade the facilities in order to accommodate the current and projected traffic to the year 2027, and to provide improved levels of service to the users of the port.  This will be achieved through the construction of a new terminal building and external works consisting of access roads, parking and landscaping.

Implementation will be undertaken by the Department of Infrastructure of the Ministry of Infrastructure, Communications, Housing, Agriculture and Fisheries.  This project constitutes the first phase of a development plan aimed at developing the Blowing Point area as a centre of economic activity in Anguilla.


CDB APPROVES USD100 MILLION POLICY-BASED LOAN FOR JAMAICA

The Board of Directors of the Caribbean Development Bank (CDB) has approved a loan, equivalent to USD100 million to the Government of Jamaica.  The policy-based loan will support the government’s fiscal and debt sustainability initiatives.

In Jamaica, the government has articulated a comprehensive reform agenda that is designed to effectively control debt generation outside of the budget, strengthen financial management in the public sector, consolidate and streamline revenue systems, and enhance private sector competitiveness.  These reforms are intended to bolster the near to medium-term fiscal and economic growth outlook and gradually reduce the level of poverty in the country.

This policy-based loan is part of a broader CDB assistance strategy for Jamaica which places emphasis on support for strengthening macroeconomic management and policy reform; bolstering economic growth prospects through the upgrade of critical economic infrastructure; and forging output expansion in key sectors, including agriculture.  CDB also proposes to support human resources development, and to tackle poverty directly through direct poverty interventions. 

The CDB loan is a critical component of a wider intervention strategy that is supported by the World Bank and the Inter-American Development Bank.