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CDB provides funds for poverty reduction in 8 Caribbean countries

The Barbados-based Caribbean Development Bank (CDB) says it is providing US$40 million in funding for poverty reduction in eight Caribbean through the Basic Needs Trust Fund (BNTF).

It said the resources will support improved access to quality education; water and sanitation; basic community access and drainage; livelihoods enhancement and human resource development services in low-income and vulnerable communities under the ninth phase of BNTF (BNTF 9).

The countries that will benefit from the initiative are Belize, Dominica, Grenada, Guyana, Jamaica, St Lucia, St Vincent and the Grenadines, and Suriname.

“The participating countries share many common characteristics and face a number of challenges inherent to small, open economies. BNTF 9 will respond to the development needs of these countries, which face challenges associated with limited diversity in production and extreme vulnerability to natural hazards, which is  now exacerbated by climate change and other external shocks,” said Daniel Best, director of projects at the CDB.

Initiatives under BNTF 9 will be implemented during the period March 2017 to December 2020.

The CDB said that the governments of the eight participating countries will provide total counterpart funding of US$6.4 million.

BNTF has implemented more than 2,750 sub-projects over the past 37 years, directly impacting the lives of more than three million beneficiaries in poor communities,” the CDB said, adding that the programme is its main vehicle for tackling poverty in the region, through the provision of basic infrastructure and skills training towards improving the livelihoods of beneficiaries in participating countries.

Credit: Jamaica Observer

CDB engages regional water and waste management specialists in Trinidad

The Caribbean Development Bank (CDB) recently partnered with the Caribbean Water and Wastewater Association (CWWA), to host the largest gathering of water and waste-management specialists from across the Caribbean at the CWWA 2016 Conference and Exhibition.

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“Clean water is one of the key pillars of human development and its importance cannot be overstated. The use and management of water impacts all of today’s leading global challenges, including: energy generation and usage; food security; natural disaster management; and the management of the environment. CDB therefore, has a vested interest in the well-being of the water and sanitation sector because it is key to us achieving our development mandate,” said L. O’Reilly Lewis, portfolio manager, CDB during the opening ceremony for the CWWA Conference.

The bank sponsored a high level forum (HLF) for water ministers in the Caribbean, which included presentations from CDB representatives, and also engaged with conference attendees at its booth in the exhibition hall.

The high level forum is a key mechanism for water-sector-related policy dialogue, bringing together government ministers and senior officials from across the Caribbean, as well as development partners and key stakeholders.

“CDB was instrumental in the establishment of HLF, playing an integral role in the planning and financing of the first forum in 2005 in Barbados… There is a commonality of challenges facing Caribbean countries and recognition of the fact that the sharing of experiences, expertise and knowledge — including best practices — is key in promoting more strategic approaches at the regional and national levels,” said Daniel Best, director of projects at the CDB.

Topics covered included economic drivers that must be considered in investments in the water and wastewater sector in the Caribbean, promoting the regional water agenda linked to the Sustainable Development Goals (Goal 6) and SAMOA in the context of climate change and disaster reduction and case studies, focusing on drought conditions in Jamaica and the impact of Tropical Storm Erika on the water sector in Dominica. CDB also participated in a panel discussion on how countries can access concessional funding, specifically through the Adaptation Fund, and the Green Climate Fund, which recently accredited the bank as a partner institution.

“This important policy dialogue on climate financing for the water sector is central to the bank’s strategy…This forum provides the bank with a timely opportunity to build awareness of its role as an accredited body to facilitate access to concessional financing from the Adaptation Fund, and the Green Climate Fund, for much needed water infrastructure investments in the Caribbean,” said Best.

The CWWA conference took place from October 25-27, in Trinidad and Tobago. This is the 25th year that the conference is being held.

Credit: Caribbean News Now!
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