Caribbean Development Bank
The Caribbean Development Bank (CDB) was established in 1970 to promote economic growth and development in member countries in the Caribbean, and promote economic cooperation and integration with special regard to the needs of least-developed countries in the region. The CDB headquarters are in Barbados, West Indies. Membership includes 20 regional countries and five countries, mainly European, from outside the region.From 1970 to 1994, the CDB financed loans totalling US$1 2 billion, of which 56% were for least-developed countries. Loans are granted to public and private borrowers in support of projects in all sectors of the economy, ranging from communications and infrastructure to services and agriculture. CDB also provides lines of credit to national development banks and other financial institutions.
Priorities related to the forestry sector
The CDB does not have a specific forestry sector policy. So far it has directly financed few forestry projects. It has, however, indirectly financed small- and medium-sized enterprises that are active in the forestry sector through CDB lines of credit granted to regional and national financial institutions. For example CDB financed a private forestry company involved in logging, sawmilling and wood processing in Trinidad and Tobago in 1989.
Procedures
Request and project proposals should be presented to CDB headquarters. The project must be consistent with the bank's objectives. Applications are appraised by specialists from the projects department. The CDB examines the project's technical and financial viability, its economic benefits and environmental impact. It also considers whether the project contributes to an harmonious development of the subregion and to promotion of economic integration in the Caribbean.
Funding for project preparation
When project preparation is carried out by the FAO Investment Centre, costs are borne by the FAO and CDB.
Contact Details
Headquarters:Caribbean Development Bank
P.O. Box 408
Wildey, St. Michael
Barbados, West Indies
Tel: (809) 431 1600
Fax: (809) 426 7269
E-mail: info@caribank.org
Web site: http://www.caribank.org