CDB increases disbursements by 20% in 2018
The Caribbean Development Bank (CDB) disbursed a record USD280 mn in project funding to its Borrowing Member Countries (BMCs) in 2018, a 20% increase compared with 2017. The Bank disbursed USD233 mn in 2017 and USD206 mn in 2016.
Speaking at CDB’s Annual News Conference today, the Bank’s Director of Projects, Daniel Best highlighted factors contributing to this, in particular a CDB-led initiative to improve implementation at the country level.
“This significant improvement results from a combination of two factors. First is our continued investment in the training of public officers to assist our BMCs to implement projects faster. Second is the Bank’s ongoing review of policies and procedures to improve our responsiveness,” stated Best.
He provided a snapshot of the Bank’s results, outlining key projects, which were completed or under implementation across the Region in 2018.
The Director noted a road safety project in Belize, which resulted in road fatalities dropping from an average of 33 per year before the project, to a current average of less than eight per year.
In addition, he pointed out that more than 100,000 people in Guyana are now benefitting from a USD44 mn road project in West Coast Demerara, which has provided safer infrastructure, a wider corridor, improved drainage and new pedestrian and bicycle lanes.
In outlining the Bank’s work in 2018, the Director highlighted the increasing demand for energy-efficient street lighting across CDB’s BMCs, confirming that in Antigua and Barbuda, and Jamaica, 44,000 street lights have been replaced with energy-efficient light-emitting diode (LED) lights.
Education was also a significant focus area for CDB in 2018, with the Bank investing in training for principals, teachers and Ministry officials.
“Now educators across the Region are better equipped to deliver technical and vocational education and training, special needs education, competency-based education and training, psychosocial services, and health and family life education,” said Best.
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Image: Ken Teegardin (flickr)