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CDB to work closer with St Lucia

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(CMC) Castries – The Barbados-based Caribbean Development Bank (CDB) is promising closer collaboration with the St Lucia government to facilitate economic recovery and build resilience as the country navigates the coronavirus (COVID-19) pandemic and other development challenges.

CDB President, Dr Gene Leon held talks with newly elected Prime Minister Philip J. Pierre and members of his Cabinet and, according to a statement issued afterwards, “the discussions focused on deepening the longstanding partnership between the Bank and the St Lucian government to achieve key development priorities”.

It said that the dialogue covered opportunities for CDB to provide financial support, technical assistance, and policy advice to drive recovery efforts.

“The consultations also included a review of CDB’s St Lucia project portfolio and exploration of the scope for accelerated implementation. CDB also agreed to revisit its country strategy for St Lucia in light of possible new policy priorities and evolving needs,” the statement said.

It said that the dialogue covered opportunities for CDB to provide financial support, technical assistance, and policy advice to drive recovery efforts.

“The consultations also included a review of CDB’s St Lucia project portfolio and exploration of the scope for accelerated implementation. CDB also agreed to revisit its country strategy for St Lucia in light of possible new policy priorities and evolving needs,” the statement said.

“In spite of the conjuncture of events that St Lucia now faces, including COVID-19, the impact of climate change and the difficulties overcoming structural challenges, CDB is committed to providing holistic support for the economic recovery process, and I think there is ample room for us to be optimistic that, with discipline and consistent commitment, we can get past this trough,” said Leon, a St Lucian national.

St Lucia’s Prime Minister said the CDB has “always been a good partner to us and, as a new government and Cabinet, we look forward to their partnership as we address priorities and seek to improve the general fiscal situation in our country, and we look forward to continued engagement”.

The CDB president, who is on his first official visit since taking up the post earlier this year, is accompanied by the CDB Vice-President of Operations, Isaac Solomon; Director of Economics, Ian Durant; and Head of Corporate Communications, Camille Taylor.

The delegation will also meet with representatives from the Ministry of Finance and tour CDB’s current projects on the island.

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