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CDB loan likely

GERALYN EDWARD, [email protected]

CDB loan likely
Dr Warren Smith (FILE)

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THE CARIBBEAN DEVELOPMENT BANK (CDB) is eager to assist Barbados with a major economic reform loan, but the country needs to first get its house in order.

Dr Warren Smith, head of the Barbados-headquartered regional institution, said yesterday the CDB was “quite prepared to provide a policy-based loan to the Barbados Government.

“In fact, we have been in discussions for some time, but we don’t think the conditions are right just yet to be able to finalise that policy-based loan, but it is part of the arsenal of responses that we will bring to bear if the Government of Barbados [is ready]”.

Smith told the WEEKEND NATION during an interview in the Turks and Caicos where the CDB is hosting its 47th Annual Board of Governors’ Meeting, the bank would continue to lend the island capital loans for areas such as water improvement, but it was “anxious for the fiscal reforms and stabilisation of the fiscal and debt situation to be brought to a conclusion” so that more substantial support could be offered. (GE)

Please read the full story in today’s Weekend Nation, or in the eNATION edition.