New CDB Initiative to Enhance Water Projects in Antigua and Barbuda

The Caribbean Development Bank (CDB) recently unveiled an exciting new initiative to enhance water supply and management projects throughout the Caribbean, with Antigua and Barbuda poised to benefit significantly.

In partnership with the European Investment Bank (EIB), the CDB is launching this initiative to address the pressing needs for improved water supply, effective management, and the preservation of the ocean ecosystem across the Caribbean region.

The CDB revealed that a substantial USD109.4 million loan from the EIB will bolster its efforts to fund essential projects.

These initiatives will focus on ensuring access to clean water, enhancing the collection and treatment of wastewater and solid waste, and upgrading flood prevention measures.

Such investments are crucial for assisting Caribbean nations in adapting to the increasing frequency of droughts and intense rainfall events driven by climate change, while also promoting environmental sustainability by reducing ocean pollution.

The initiative is set to benefit a range of eligible countries, including Antigua and Barbuda, the Bahamas, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, and Trinidad and Tobago.

CDB President (Ag.) Isaac Solomon emphasized the importance of this collaboration, stating, “The partnership between CDB and EIB has always been mutually beneficial, and this latest initiative opens the door to additional concessional resources for 14 member states—representing nearly three-quarters of CDB’s Borrowing Member Countries”

He said this initiative is especially vital given that these nations are home to over 19 million people. Access to adequate water and sanitation services, as well as the prevention of water-related disasters, is essential for fostering and sustaining development across our region.