CDB III (SDR-6.5)

closed

The CDB is a regional development bank which was established in 1970. It has 17 regional and 5 non-regional country members. Its purpose is to contribute to the economic development of the region. The Bank has maintained a close relationship to CDB since its inception, both through the provision of technical assistance and the granting of two previous loans/credits. The Bank's objectives have been to help build CDB into an increasingly effective institution and to use it as a channel for financing small projects in the Caribbean which would otherwise be too costly and difficult for the Bank to appraise and supervise. Bank Group funds have been used for public and private sector projects of the types which the Bank normally finances. The proposed credit will be for the same purposes and objectives as the previous operations, except that it will be restricted to the smallest and poorest CDB member countries. CDB has, at the present time, sufficient hard capital resources available so that IBRD funds are not required as a part of the proposed project.