OECS to benefit from US$20 million IDB loan
May 24, 2013
WASHINGTON, CMC – The Inter-American Development Bank (IDB) has signed an agreement for US$20 million for a Global Loan Program with the Caribbean Development Bank (CDB) for projects in four Organization of Eastern Caribbean States (OECS) countries.
The CDB will lend the funds for the financing of public sector projects in Dominica, Grenada, St. Lucia and St. Vincent and the Grenadines.
“These small open economies are vulnerable to external economic shocks and natural disasters,” said the IDB. “They are also still reeling from the effects of the recent financial crisis.”
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