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St Lucia gets grant from CDB

sherieholder, [email protected]

St Lucia gets grant  from CDB

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CASTRIES, St. Lucia, Jul 1, CMC – St. Lucia has received an EC$15 million (One EC dollar = US$0.37 cents) grant from the Barbados-based Caribbean Development Bank (CDB) to boost efforts at eradicating poverty in the towns and villages across the island.
But Social Services Minister Harold Dalson says the financial institution is insisting upon accountability for the funds being released under the Basic Needs Trust Fund (BNTF) established to manage the reduction of poverty and vulnerability through enhanced access to basic and economic infrastructure and human resource services.
“This is consistent with the Poverty Reduction Action Plan and the Country’s Poverty Reduction Strategy,” Dalson said, adding that the grant, will fund up to 95 per cent of the total cost of each approved project at a maximum of EC$1.6 million.
“The Caribbean Development Bank is insisting on careful implementation and use of the grant funds, which were approved after the stakeholders submitted a country portfolio mapping out the needs of communities,” he said.
Dalson said sub-projects proposed will include the construction or rehabilitation of small buildings, minor roads, footpaths and water supply systems during programme that runs from 2013-17.