Canada and the Caribbean Development Bank
The Caribbean Development Bank's (CDB) mandate is to systematically reduce poverty among its borrowing member countries through social and economic development. The CDB also promotes economic cooperation and regional integration.
Canada played an important role in creating the CDB in 1969. It has been a substantial contributor since that time and has a permanent seat on its Board of Directors. Canada was instrumental in facilitating Haiti's membership in CDB in 2007.
Canada’s support for the Caribbean Development Bank
Canada is the largest contributor to the CDB's Special Development Fund, which provides low-interest loans and grants to support the poorest and most vulnerable Caribbean countries. Canada also provides significant support to Basic Needs Trust Fund, which gives grants to poor communities to improve access to basic public services, improve job capabilities, and reduce socio-economic vulnerability.
The CDB's focus on promoting broad-based economic growth, strengthening economic infrastructure and supporting private sector development makes it a key multilateral partner for Canada in its efforts to help the region build economic foundations, grow businesses and invest in people.
Between 2010 and 2013, with the support of Canada and other donors, the CDB helped:
- Build or upgrade 659 classrooms and train more than 5,800 teachers, benefitting close to 200,000 students in the region
- Irrigate and improve more than 5,400 hectares of land
- Design rural enterprise credit programs to increase agricultural productivity, marketing, and community-level enterprise development, benefitting 2,000 people
- Build or improve over 2,100 kilometers of roads, benefitting more than 500,000 people
- Provide more than 29,000 households with access to water and sanitation systems
- Caribbean Program
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