CDB Approves Loans for Saint Lucia

Contact: Dana Augustin

Friday, January 05, 2001 –The Caribbean Development Bank has approved two separate loans totaling 15.83 million dollars for Saint Lucia.  That’s according to a report issued by the CDB on its 194^th Meeting of the Board of Directors held at the bank’s Headquarters in Barbados early in December last year.

According to the report, a loan of 5 million US dollars to the National Commercial Bank of Saint Lucia (NCB) has been approved to assist the NCB in making loans available for agricultural, industrial and tourism purposes in Saint Lucia and other member countries of the Organization of Eastern Caribbean States (OECS).

Another loan to the Government of Saint Lucia not exceeding the equivalent of 10.83 million US dollars has been approved to finance a Shelter Development Project, which would improve the living conditions of people in low – income households in Saint Lucia on a sustainable basis, the report states. 

The Shelter Development Project will involve the establishment of Sites and Services Revolving Fund, a Tenantry Upgrade Revolving Loan Fund, a Home Improvement Loan Programme and the provision of core units.  These aspects of the project are geared toward improving the quality of life of members of targeted households.

A technical assistance grant to the Government of Saint Lucia to the tune of US$61,000.00 was also approved.  These funds will be used to assist in financing the services of short–term consultants to train staff of the project implementing agencies.       

Apart from Saint Lucia and fellow OECS countries, the CDB has also approved loans for the productive sectors of Barbados, Belize, Guyana and Trinidad & Tobago.

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