IDB ap­proves loan to CDB

The Pak Banker - - Front Page -

WASH­ING­TON: The In­terAmer­i­can De­vel­op­ment Bank (IDB) to­day ap­proved US$20 mil­lion for a Global Loan Pro­gram to the Caribbean De­vel­op­ment Bank (CDB) for projects in the four IDAel­i­gi­ble Or­ga­ni­za­tion of Eastern Caribbean States (OECS) mem­ber coun­tries. The CDB will on-lend the funds for the fi­nanc­ing of pub­lic sec­tor projects in Do­minica, Gre­nada, St. Lu­cia and St. Vin­cent and the Gre­nadines. These small open economies are vul­ner­a­ble to ex­ter­nal eco­nomic shocks and nat­u­ral dis­as­ters. The new ap­proved pro­gram will help ad­dress the so­cial and eco­nomic chal­lenges of these non-IDB mem­ber coun­tries, con­strained by their lim­ited ac­cess to longer term and lower cost credit re­sources. Re­sources will be al­lo­cated by CDB based on its coun­try strat­egy and pro­gram­ming pro­cesses.

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