CDB Announces Partnership Push for Regional Development

CDB Announces Partnership Push for Regional Development

The Caribbean Development Bank (CDB) is stepping up its partnerships with international financing institutions to unlock resources to propel sustainable social and economic development in its Borrowing Member Countries (BMCs).

Acting President, Mr. Isaac Solomon outlined a slate of initiatives the Bank is implementing in conjunction with international development organizations while delivering a presentation on
“Partnerships for Resilient Prosperity” during CDB’s Annual News Conference, on February 20, 2024.

A major development is the Government of Canada’s CAD 58 million ‘Supporting Resilient and Green Energy’ (SURGE) initiative for the Caribbean which will provide financing to accelerate the Region’s sustainable energy transition.

Another collaborator is the Global Partnership for Education, (GPE) the world’s largest education fund for lower-income countries. Since CDB’s designation as a GPE Grant Agency in 2023, the Bank has secured $5 million in grants to support education projects in Grenada and St. Vincent and the Grenadines.

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The Bank Executive also cited an enhanced cooperation agreement with the Inter-American Development Bank and IDB Invest for a new action plan for regional development focused on digital transformation, climate adaptation, disaster risk management, citizen and business security, food security, and private sector engagement.

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