Third Programmatic Resilience Building Development Policy Credit

closed

The development objective of the Third Programmatic Resilience Building Development Policy Credit Project for Grenada is to support Grenada in implementing a program of policy and institutional reforms to: (i) improve the investment climate and competitiveness; (ii) improve public resource management; and (iii) enhance resilience against natural disasters. The operation is comprised of a credit in the amount of special drawing rights (SDR) 6.8 million, equivalent to United States (U.S.) 9.33 million dollars, from the International Development Association (IDA). The development policy financing (DPF) series is part of a broader effort to support Grenada’s reform agenda, which includes the World Bank, the International Monetary Fund (IMF), and the Caribbean Development Bank (CDB). The government has demonstrated a credible commitment to restoring fiscal discipline as part of its structural reform program. This DPF series supports the government’s long-term efforts to address systemic vulnerabilities by targeting structural reforms in the areas of private sector development, fiscal management, disaster risk management, and banking sector stability. The series also complements concurrent operations by the IMF and the CDB.