• Latest
CDB Approves US$10 Million Policy-Based Loan to Grenada

CDB Approves US$10 Million Policy-Based Loan to Grenada

5 years ago
GFA delegation attends FIFA and CONCACAF Congress in France

GFA appoints new Senior Men’s National Team Head Coach

3 mins ago

Reef View Enterprises becomes latest CBI local agent

33 mins ago

Closure and relocation of Department of Births and Deaths

15 hours ago
Young farmers take up challenge to increase Grenada’s food supply

Young farmers take up challenge to increase Grenada’s food supply

15 hours ago
MWAG statement on the passing of Justin “Crow” McBurnie

MWAG statement on the passing of Justin “Crow” McBurnie

22 hours ago
This Day in History

This Day in History: 21 January 1974

1 day ago
Lawyer Wants Marijuana Possession Laws to be Modified

National Round Table on Caricom Commission on Marijuana Report

1 day ago
Congratulations to Grenlec’s BFF Winners

Congratulations to Grenlec’s BFF Winners

2 days ago
Government and trade unions disagree over deferral request

Government and trade unions disagree over deferral request

2 days ago
5 Grenadian Artistes at International Soca Monarch Semis

Infrastructure Ministry awaiting “no objection” to commence St Patrick coastal study

2 days ago
Lawrence Samuel is chairman of Transport Commission

Lawrence Samuel is chairman of Transport Commission

2 days ago
Political Parties Share Different Views on Grenada’s Rural Economy

Government breaks down real cost of 4% salary increase

3 days ago
NOW Grenada

Main Header Ad 468x60

booked.net
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us
No Result
View All Result
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us
No Result
View All Result
NOW Grenada
No Result
View All Result

Article Header

CDB Approves US$10 Million Policy-Based Loan to Grenada

This story was posted 5 years ago
18 October 2015
in PRESS RELEASE
2 min. read
Mr Timothy N J Antoine, Permanent Secretary, Ministry of Finance
Share

The Board of Directors of the Caribbean Development Bank has approved the provision of a US$10 million loan to the Government of Grenada, to support reforms to stabilize the economy and pave the way for sustainable growth.

This is the second of three Policy-Based Loans (PBLs) that have been proposed for Grenada to support that Government’s 36 month “Home grown” adjustment programme to restore fiscal and debt sustainability, improve competitiveness and promote sustainable growth. The programme is also supported by the International Monetary Fund and the World Bank.

Dr Justine Ram, Director of Economics at CDB, said “This PBL will complement reforms that had started with the disbursement of the first loan in 2014, and is aimed at supporting additional efforts by the Government of Grenada to enhance competitiveness, promote more diverse growth and advance its social development agenda, as Grenada continues to pursue strong, sustainable and inclusive economic growth. The Government has already demonstrated a strong commitment to the programme of reform, and significant reforms have already been undertaken during the first half of the programme.”

The first PBL, which was approved in 2014, was geared towards supporting reforms in public sector management and the enhancement of sustainable private sector-led growth and development. The PBLs are at the core of CDB’s broader Country Strategy for Grenada, which was approved by the CDB Board of Directors in May 2014. The Bank’s strategy places emphasis on assisting the Government of Grenada in achieving fiscal stability; improving quality/access to education and training; promoting social development and enhancing sustainable development.

Timothy N J Antoine, Permanent Secretary, Finance, Grenada, said that he was very pleased that the second installment of the PBL had been approved by the board.

“I think when we started this journey we knew that we could not do it without the help of our development partners and CDB for us is a long standing and very important development partner. We are making sacrifices in Grenada but ultimately we cannot do it without the help of our friends and partners, so we believe that given all the efforts we have made, given the good progress that we have made in Grenada, this is a further boost for us and we also believe that it is an investment with a very strong rate of return for the CDB.”

Grenada has been a member of CDB since 1970, and the Bank has approved loans to that country totaling USD 226.3 million as of September 2015, representing 5.6% of CDB’s total approvals to its Borrowing Member Countries. CDB’s lending has mainly been in the area of economic infrastructure.

NOW Grenada is not responsible for the opinions, statements or media content presented by contributors. In case of abuse, click here to report.

Tags: bankcdbeconomyfinancehome grownimfloanpblsaptimothy antoineworld bank
Next Post
Constitutional Reform is Back!

Grenada Constitutional Reform

Home Sidebar NP 300x250

© NOW Grenada. All Rights Reserved. Published by Aqua Design Inc. | Terms of Use | Privacy Policy

© NOW Grenada. All Rights Reserved
Published by Aqua Design Inc.
Terms of Use | Privacy Policy

No Result
View All Result
  • Front Page
  • Categories
    • General News
      • All
      • Agriculture & Fisheries
      • Arts & Culture
      • Business
      • Education
      • Environment
      • Health
      • History
      • Lifestyle
      • Law
      • Politics
      • Technology
      • Travel & Tourism
      • Weather
      • Youth
    • Sports
      • All
      • Athletics
      • Cricket
      • Football
      • Watersports
    • Community
      • All
      • Tribute
    • Crime
    • Features
      • All
      • Today in History
    • Opinion/Commentary
    • Press Releases
      • All
      • Advertisements
      • Notices
  • Video
  • Notices & Vacancies
  • Advertise
  • Contact Us

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings. Visit our Privacy Policy | Terms of Use.

NOW Grenada
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Visit our Privacy Policy | Terms of Use.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.