President of the Caribbean Development Bank Dr Hyginus ‘Gene’ Leon in Kingstown for an official visit said the bank stands shoulder to shoulder with the volcano-ravaged island.
As the government now focuses on rebuilding, Dr Leon said a $300,000 grant would go towards volcano clean-up effort within the Red Zone or northern section of the country; a further USD 5 Million immediate response loan would be signed for on Friday.
The President also stated that IDB (Inter-American Development Bank) is also providing a grant of $200,000 in technical assistance; all allocations fall under the Emergency Volcano Eruption Response.
President Leon in Kingstown said the CDB is committed to working with St Vincent and the Grenadines to accelerate the island’s economic growth.
Disbursement has not been as fast as it should be; Dr Leon said the question would be, “who is to blame.”
“I say all of us should take some blame, CDB, Governments, and others, for various reasons. What I would be keener to say is that CDB of today is committed to ensuring we move as expeditiously as we can in the area of disbursements”.
This article would be updated.