Caribbean Development Bank (CDB): CDB held its annual news conference in Barbados on Friday 17th February. Dr. Warren Smith, President of the CDB, highlighted the need for borrowing member countries(BMCs) to get their economies on a path of sustained and inclusive growth. He also noted the need to generate foreign exchange and promote efficiency in inclusivity.
CDB approved US$306 Mn in loans and grants to the Caribbean in 2016 (highest for the past five years). The Special Development Fund (SDF) will be replenished with US$355 Mn for the period 2017-2020 and the interest rate will be reduced from 2.5% to 1%.
The Bank has begun implementing the UK Caribbean Infrastructure Partnership Fund (UK CIF), a £300Mn fund.