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CDB to establish first country office in Haiti this year


Posted in: Regional News | 05 March 2018 | 588

    Haiti’s Minister of Foreign Affairs, His Excellency Antonio Rodrigue (left) and Vice-President (Operations), Caribbean Development Bank (CDB), Monica La Bennett (right), hold the signed country agreements after signing them on February 27, 2018
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    Haiti’s Minister of Foreign Affairs, His Excellency Antonio Rodrigue (left) and Vice-President (Operations), Caribbean Development Bank (CDB), Monica La Bennett (right), hold the signed country agreements after signing them on February 27, 2018

    Haiti’s Minister of Foreign Affairs, His Excellency Antonio Rodrigue (left) and Vice-President (Operations), Caribbean Development Bank (CDB), Monica La Bennett (right), hold the signed country agreements after signing them on February 27, 2018. CDB will establish its first country office in the Republic of Haiti this year. (Photo via CDB)

    The Barbados-based Caribbean Development Bank (CDB) will establish its first country office in the Republic of Haiti later this year. Minister of Foreign Affairs, His Excellency Antonio Rodrigue and the Bank’s Vice-President (Operations), Monica La Bennett, signed the Agreement on February 27, 2018 on the sidelines of the 29th Intersessional Meeting of the Conference of Heads of Government of the Caribbean Community in Haiti.

    La Bennett said that the signing of the Country Agreement further cements the strong partnership between CDB and the Republic of Haiti.

    Last year, CDB, in collaboration with the Government of Haiti, developed a country strategy plan for the period 2017 to 2021, with an indicative resource envelope of USD100 million to help Haiti meet its development priorities. The strategy focuses on three main themes: agriculture and community development, sustainable energy development and education and training. It is this deepening engagement between CDB and the Government of Haiti that has led us to conclude that there is a need for a country office. We expect that this will lead to the development of closer relationships with the Government and the people of this country, enabling CDB to be a more proactive, responsive development partner,” she said.

     

    Caribbean Development Bank
    The Caribbean Development Bank (CDB), is a regional financial institution which was established by an Agreement signed on October 18, 1969, in Kingston, Jamaica, and entered into force on January 26, 1970. The Bank came into existence for the purpose of contributing to the harmonious economic growth and development of the member countries in the Caribbean and promoting economic cooperation and integration among them, having special and urgent regard to the needs of the less developed members of the region (Article 1 of the Agreement establishing CDB). In the Revised Treaty of Chaguaramas, the CDB is recognised as an Associate Institution of CARICOM

     

    Haiti became a member of CDB in 2007. Since joining the Bank, the country has been allocated grant resources from CDB’s most concessional resource pool, the Special Development Fund (Unified). In 2017, an allocation of USD45 million was approved under the ninth cycle of the Fund. To date, a total of USD133 million has been committed to Haiti. Projects supported included the Education for All Phase II Project; the Technical and Vocational Education and Training Project II; interventions in agriculture and rural development; technical assistance for micro, small and medium enterprise development, and improving the quality of, and access to basic education.

    CDB’s ongoing work in Haiti includes projects in education, including technical and vocational education and training; climate resilience; and community-based agriculture and rural development. In addition, since May 2013, the Bank has paid the country’s insurance premiums to CCRIF SPC. The payments cover Haiti’s earthquake, tropical cyclone and excess rainfall policies. Under this arrangement, the country has received three major payouts, most recently following the passage of Hurricane Matthew in October 2016. (CDB Press Release)

     

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