CDB records strong growth in 2017
Published:Thursday | May 31, 2018 | 12:26 PM
BRIDGETOWN, Barbados, CMC – The Barbados based Caribbean Development Bank (CDB) recorded strong growth and exceeded targets in approvals and disbursements in 2017.
According to CDB President Dr. Warren Smith, these were highlights in the banks 2017 annual report.
“The Bank was able to respond quickly and meaningfully to the various setbacks and the challenges that Borrowing Member Countries faced during the year. With this level of support, CDB was able to maintain its position as a leading source of long-term development financing and capacity-building in the Caribbean,” Smith said.
In 2017, the Bank approved capital loans and technical assistance interventions totalling US$ 364 million, an increase of 18 per cent compared with 2016.
Disbursements to its Borrowing Member Countries rose by 13 per cent to US$233 million during the year.
The report also details CDB’s economic outlook and review for the Caribbean Region.
The Bank forecasts that the regional economy will grow by 1.8 per cent in 2018 due to anticipated improvements in global economic growth, with risks tilted to the downside.
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