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Newly installed President of the Caribbean Development Bank, CBD, Dr. Gene Leon has reiterated the institution\u2019s support for St. Vincent and the Grenadines, following recent devastations caused by natural disasters.<\/p>\n\n\n\n
The president who was making his inaugural visit to this country made the pledge of support to Prime Minister Dr. Ralph Gonsalves during a press conference held at Cabinet room on July 23rd, 2021.<\/p>\n\n\n\n
Addressing the Press Conference, Prime Minister Gonsalves said, \u201cCDB is not just a lender, but a policy advisor, an all round developmental partner with us in the integration movement\u201d and stated that the institution has made a significant contribution to St. Vincent and the Grenadines since 1970.<\/p>\n\n\n\n
Prime Minister Gonsalves stated that evolving is a crucial part of development since it facilitates progress and said, \u201cI am impressed with the overall world view and philosophical frame and the programmatic elements which the new team at the CDB is bringing to this partnership.\u201d The Prime Minister said, \u201cthis bank was conceived by Caribbean people,\u201d and added that \u201cthis one is vital to our life, living and production.\u201d<\/p>\n\n\n\n
Prime Minister Gonsalves pointed out a number of projects funded by the CDB, on which work will soon commence. Some of these projects include: a sea defence project at Sandy Bay at a cost of approximately $40 Million, repairs to nine primary and secondary schools along with the rebuilding of the Sandy Bay primary school at an estimated cost of $40 Million, the Port Modernisation project (over $100 million) and a project to be executed by the Basic Needs Trust Fund, BNTF.<\/p>\n\n\n\n
President of the CDB, Dr. Gene Leon said, \u201cthis is a meeting about showing our solidarity, our support at the CDB with the people of St. Vincent and the Grenadines,\u201d and noted that the visit had to be now. The CDB President stated that this visit was done to encourage the strengthening of bonds. Dr. Leon stated that the immediate La Soufriere response also prompted this gesture indicating the CDB\u2019s contribution of US$300,000 targeting the restoration activities following the explosive eruptions of the La Soufriere; and disclosed that US$5.3 Million have been allocated for immediate emergency response to St. Vincent and the Grenadines.<\/p>\n\n\n\n
According to the President, technical assistance will be given to this country to the tune of US$200,000 from the IDB. He emphasized the institution\u2019s commitment to working with the government of St. Vincent and the Grenadines with a view to \u201caccelerating disbursements on all existing projects that can help move the reaction to move this country to a better place faster.\u201d<\/p>\n\n\n\n
Dr. Leon noted that one of the projects being funded is the BNTF project which is geared at improving livelihoods in communities. He highlighted that he was pleased to see the area designated for the \u2018New Port\u2019 and said that \u201cit is potentially transformative for the economy of St. Vincent and the Grenadines.\u201d<\/p>\n\n\n\n
The CDB President revealed that the transformative project has been made possible by the United Kingdom with the provision of \u00a3330 Million to the UK Caribbean Investment Infrastructure fund to assist in the development of transformative projects in the Caribbean.<\/p>\n","protected":false},"excerpt":{"rendered":"
Newly installed President of the Caribbean Development Bank, CBD, Dr. Gene Leon has reiterated the institution\u2019s support for St. Vincent and the Grenadines, following recent devastations caused by natural disasters. The president who was making his inaugural visit to this country made the pledge of support to Prime Minister Dr. Ralph Gonsalves during a press<\/p>\n","protected":false},"author":8,"featured_media":24094,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[5],"tags":[],"class_list":["post-24163","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"\n