Saturday, February 17, 2018

CDB needs $$ billions to upgrade region’s infrastructure*

President of the Caribbean Development Bank (CDB), Dr Warren Smith, centre, discusses a point with Daniel Best, right, director of projects, CDB and director of economics at CDB, Dr Justin Ram, during the bank’s annual news conference last Wednesday.

The Caribbean needs at least US$30 billion to close its infrastructural development gap over the next decade, in order to compete on a global scale, reduce poverty and drive sustainable growth, the Caribbean Development bank disclosed last week.
According to the CDB’s director of projects, Daniel Best, the bank has mobilised a sizeable portfolio of concessionary financing through grants and loans at very low interest rates to help close this gap.  “The aim is to accelerate investment in social and economic infrastructure, without creating unsustainable public debt,” Best told journalists at the CDB’s annual news conference, held last Wednesday in Barbados. The Caribbean Development Bank (CDB) is a financial institution that helps Caribbean nations finance social and economic programmes in its member countries. 

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