The Caribbean Development Bank (CDB) is based in Barbados and provides funding for development projects in the region. Through social and economic development it aims to reduce poverty and improve the quality of life for people in the Caribbean.
In 2009 the CDB funded projects aiming to;
Many of the countries in the Caribbean, and all 17 member countries which borrow from the CDB, are Commonwealth countries or UK overseas territories.
The bank’s Special Development Fund (SDF) provides low-interest loans and grants to the poorest countries in the Caribbean. Between 2009 and 2012 the UK will provide £35 million of support the SDF.
The Caribbean Development Bank has contributed $5 million to improve the quality of basic education in Grenada. The money will go towards improving resources for one primary and three secondary schools in rural Granada, which is expected to benefit 2,000 students. The money will also provide training to 500 teachers so they can teach the full curriculum to their students.
All the schools are located in rural communities in Grenada. This will allow the project to reach the poorest and most vulnerable families in the country. The project is expected to greatly improve education in the area and will enable more children to go to university and be successful in the job market when they graduate. The project is also expected to generate employment from construction activities in these communities, which have been badly affected by the decline of agriculture in recent years.
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Picture: Caribbean Development Bank
