December 14, 2017, BRIDGETOWN, Barbados – The Board of Directors of the Caribbean Development Bank (CDB) has approved USD65.5 million in loans and grants to the Government of the British Virgin Islands to assist with the recovery, rehabilitation and reconstruction of social and economic infrastructure, resulting from the cumulative effects of recent severe weather events.
December 14, 2017, BRIDGETOWN, Barbados – The Caribbean Development Bank (CDB) is supporting the Government of Haiti in reducing poverty, building resilience, and achieving sustained economic growth for all. A new Country Strategy, approved by CDB’s Board of Directors today, proposes a programme of assistance of USD100 million for the period 2017 to 2021 to help Haiti meet its development priorities. This total includes USD45 million in grant resources.
December 12, 2017, PARIS – Recent hurricanes have left unprecedented devastation across the Caribbean and it is a traumatic time for all those who live in the region. Whole communities and towns have been decimated, and the global community needs to act quickly and give generously to relieve suffering and help to rebuild. Alongside the on-going emergency response, Caribbean leaders today announced the launch of a new public-private coalition to create the world's first "climate-smart zone".
Mexico and the Caribbean Development Bank (CDB) have approved a grant of USD14 million to CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility). CCRIF provides parametric insurance coverage for government risk to Caribbean and Central American countries. This form of insurance is designed to limit the financial impact of catastrophic natural events, such as hurricanes and earthquakes, by quickly providing short-term liquidity when a policy is triggered.
President of the Caribbean Development Bank (CDB), Dr. Wm. Warren Smith, on Tuesday welcomed the global community’s commitment to scale up support for climate risk management in the world’s most vulnerable countries. He was speaking during the United Nations Climate Change Conference (COP23) at a high-level event for leaders of international organisations, Ministers and insurance sector stakeholders.