CDB to fund poverty draft plan

The Barbados-based Caribbean Development Bank (CDB) is providing Grenada with a grant of US$70,000 to fund a draft plan aimed at alleviating poverty on the island, according to a report on www.cananews.net.



The announcement by the bank followed a release of a poverty survey, conducted by the Trinidad-based Kairi Consultants, which found more than five per cent increase in poverty over the past 10 years.



The money is expected to further boost a three-year home grown poverty reduction strategy backed by the International Monetary Fund (IMF), scheduled for completion next year.



“As part of this programme of support the CDB has set aside a sum of money, US$70,000 to help the Government of Grenada in doing its poverty reduction strategy and action plan,” said Elbert Ellis, a social analyst at CDB.



“Right now you have a poverty reduction strategy and the bank is going to be moving in the New Year to assist the country in getting that strategy finalised”.





More than half of the population has been considered vulnerable which includes a 37.7 percent poverty headcount compared to 32.1 per cent in l998, according to the CDB-funded survey.



It also reported that an estimated 10,000 persons have been removed from a life of starvation and credited this achievement to government’s safety net programmes.



“It is grant money and it will help finalise the poverty reduction strategy and action plan and after that we will see where we can provide more resources for implementation” Ellis said, adding “CDB will be managing the funds and we will be working very closely with government”.