CDB Provides Emergency Loans to 7 C’bean Countries

Jamaica is not among seven Caribbean countries that will share more than US$66 million in emergency loans from the Caribbean Development Bank (CDB), to fight COVID-19

In a release Monday, May 18, the Bank said is making available emergency loans to seven Caribbean countries. They are: Antigua and Barbuda (US$13 million), Belize (US$15 million), Dominica (US$2.5 million), Grenada (US$5.9 million), Saint Lucia (US$10.8 million), St. Vincent and the Grenadines (US$11.3 million), and Suriname (US$8.2 million).

The provision of support to the seven countries to respond to COVID-19 and keep critical government services and operations running is urgent to halt the economic decline and minimize social hardship while giving focused attention to the most vulnerable people,” says CDB President Dr. Warren Smith.

The emergency loans, made under CDB’s most concessional terms, will provide vital liquidity and increase governments’ fiscal space to allow these countries to promptly meet their urgent financing needs without diverting resources away from critical social expenditures or health emergency needs, the CDB said.

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