CDB announces major funding for Saint Lucia and other Caribbean countries

CDB announces major funding for Saint Lucia and other Caribbean countries

Saint Lucia is one of eight Caribbean countries to benefit from $US 40 million in funding for poverty reduction through the Basic Needs Trust Fund (BNTF).

The Caribbean Development Bank (CDB) announced the funding in a statement today.

According to the CDB, 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).

In addition to Saint Lucia, the other countries that will benefit are: Belize; the Commonwealth of Dominica; Grenada; the Cooperative Republic of Guyana; Jamaica; St. Vincent and the Grenadines; and Suriname.

Director of Projects, CDB, Daniel Best, said that 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,”  Best said.

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

Governments of the eight participating countries will provide total counterpart funding of USD6.04 mn.

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 has said.

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