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HomeBusinessCDB - UK government boosting resilient Caribbean infrastructure

CDB – UK government boosting resilient Caribbean infrastructure

BARBADOS / UK – The strong partnership between the United Kingdom and the Caribbean Development Bank’s borrowing member countries was on full display during the UK Caribbean Infrastructure Conference 2023.

The Conference which was held on November 20-24 in St Vincent and the Grenadines, in partnership between the government of the United Kingdom and the Caribbean Development Bank (CDB), focused on enhancing project management and delivery of large infrastructure projects, while underscoring the importance of prioritising climate resilience and social inclusion.

The UK Caribbean Infrastructure Fund (UKCIF), which provided funding for the Conference, is a £350 million grant-funded programme from the UK Government to build climate-resilient, inclusive infrastructure and boost economic growth in the Caribbean. UKCIF is administered by the CDB.

Vice-president (operations), Isaac Solomon, said:

“The UKCIF Programme has provided beneficiary countries access to more affordable financing options and lowered the cost of borrowing within the portfolio. […] UKCIF resources have funded transformative projects … this partnership has facilitated the delivery of development projects that have transformed the lives and livelihoods of our people in a way that neither the bank, the governments, nor the private sector could have implemented and completed alone.”

According to British Commissioner to Barbados and the Eastern Caribbean, H.E. Scott Furssedonn-Wood:

“We know that the ever-present challenge of climate change demands our immediate attention and urgent collaborative action. The United Kingdom stands side by side with Small Island Developing States on the global stage. Given the unique vulnerability of the Caribbean, the UKCIF was set up to deliver transformational infrastructure projects that drive economic development, with social inclusion and climate resilience at the centre. By prioritising these things, we are not only safeguarding communities today but also building a sustainable legacy for future generations.”

 

 

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