The Caribbean Development Bank (CDB) is moving to create a “financing ecosystem” to support the rescue, recovery and repositioning of its Borrowing Member Countries’ (BMCs) economies to meet immediate needs and propel long-term growth and development.CDB President, Dr Gene Leon said the institution will marshal financing for a range of innovative instruments that will enable its BMCs to reorder their economies for future growth and prosperity even while continuing to navigate recovery amidst current challenges.
CDB projects regional economic growth of 9.1% in 2022
The Caribbean Development Bank (CDB) is projecting gross domestic product (GDP) growth of 9.1% across its 19 Borrowing Member Countries (BMCs) in 2022, accelerating the region’s economic recovery which started in 2021. The favourable outlook is anchored by an expected surge in the GDP of commodity-exporting economies by an estimated 17.5% on account of strong growth in Guyana (47.5%), emanating from increased oil and gas production, and a resurgence in energy production in Trinidad and Tobago as supply-side constraints are alleviated.
CDB Mobilised US$80 Million in Flexible, Swift Pandemic Response in 2021
As the Caribbean faced down the second year of COVID-19 in 2021, the Caribbean Development Bank (CDB) mobilised over US$80 million specifically to help its Borrowing Member Countries (BMCs) meet the increased and changing needs brought on by the pandemic. At the Bank’s Annual News Conference today, Director of CDB’s Projects Department, Mr. Daniel Best described the Bank’s efforts to make the much-needed funding available.
