St Vincent Receives US $11Million Emergency Loan From CDB For Covid -19

The Caribbean Development Bank (CDB) is making available emergency loans to seven Caribbean countries, in the first instance, to finance the response to the COVID-19 pandemic.

Today, the Bank’s Board of Directors has approved a total for St. Vincent and the Grenadines (US$11.3 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 minimise social hardship, while giving focused attention to the most vulnerable people,” says CDB President Dr. Wm 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 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.

Other countries include 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) and Suriname (US$8.2 million).

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