Caribbean Development Bank
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The Caribbean Development Bank (CDB) was established in 1969 to be the leading catalyst for development resources into the region, working in an efficient, responsive and collaborative manner with Borrowing Member Countries (BMCs) and other development partners, towards the systematic reduction of poverty in their countries through social and economic development. The CDB comprises 28 member countries, including 19 regional borrowing members.
In 2015, the CDB approved loans and grants amounting to US$294 million. Developments in the water, energy, and transportation sectors dominated the portfolio, followed by substantial support to the education sector. The emphasis on infrastructure improvement was consistent with the role which this sector plays in reducing poverty, by facilitating economic growth and employment opportunities. The CDB Strategic Framework for the period 2015 to 2019 comprises two distinct but complementary development objectives: supporting inclusive and sustainable growth and development, and promoting good governance. These two objectives will be supported by the mainstreaming of three cross-cutting areas, i.e., gender equality, regional cooperation and integration, and energy security.
|Antigua and Barbuda||$50|
|St. Kitts and Nevis||$8|
|Turks and Caicos Islands||$5|
|Disaster Risk Reduction||$7|
Responsibility for procurement management under Bank-financed projects rests with the recipient of CDB financing, while the Bank provides oversight – ensuring that the procurement is carried out in accordance with the Bank’s procurement guidelines and the terms of the relevant financing agreement between the recipient and CDB. Procurement policy, procedures and documents are harmonised with other development banks. CDB General Procurement Notices and Contract Awards are available online and, Country Thresholds - monetary thresholds which determine the most efficient method of procurement to be used in the procurement of goods and works under CDB-financed projects have been set for each BMC.
Private Sector Financing
The CDB’s Private Sector Unit is responsible for identifying, appraising and supervising credit and technical assistance to support private sector development. Credit facilities are provided mainly through lines of credit to financial intermediaries. The Private Sector Unit’s involvement in capacity building is focused on improving the enabling environment as well as to build capacity within institutions which deliver services to the private sector.
Canada and the CDB
Canada is a founding member of the CDB and holds 9.41% of the Bank’s total shares. Canada, along with the United Kingdom is the largest non-regional shareholder at the CDB. Canada is also the largest contributor to CDB’s Special Development Fund, which provides grants and loans of longer maturity and lower interest rates to support poverty reduction in the BMCs.
Canadian firms have had most success providing consultancy services to BMCs. This includes pre-investment studies (feasibility and pre-feasibility studies); detailed design studies; environmental and social impact assessments; the control and supervision of the construction of works; and technical assistance.
Canadian firms can obtain additional information and support by contacting representatives from the Canadian Aid Market Support Network
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