CDB approved US$536.6 million in loans and grants in 2020

In 2020, the Caribbean Development Bank (CDB) approved US$536.6 million in loans and grants for its Borrowing Member Countries (BMCs) to finance improvements in economic infrastructure, social resilience, policy-based initiatives and COVID-19 mitigation.

This total marked a 77% increase over the US$303 million approved in 2019. Loan financing accounted for US$380 million, up from US$253.7 million in 2019, while grant funding was US$156.6 million, more than double the US$49.3 million approved the previous year.

The Bank’s disbursements also rose in 2020 totaling US$357.4 million, a 17% increase on the US$304.9 million achieved the prior year. Loans climbed to US$283.2 million from US$231.5 million, while grants inched up to US$74.2 million from US$73.4 million.

The bulk of the financing approved in 2020 was for large-scale economic infrastructure projects including:

  • US$190 million for the upgrading of 121 kilometres of roadway from Linden to Mabura Hill in Guyana. This is the largest project CDB has approved for financing.
  • US$60 million to upgrade 125 kilometres of the Philip S. W. Goldson Highway and the Remate Bypass Road, a vital trade corridor between Belize, Guatemala and Mexico; and
  • US$55 million to rehabilitate and improve 40 kilometres of the Millennium Highway and West Coast Road in Saint Lucia; CDB also advanced work on several projects in 2020 including the Dennery North Water Supply Redevelopment Project in Saint Lucia, which has improved the water supply system for approximately 2,900 households.
    Here is a link to the video report