CDB & EIB set up a post emergency disaster project

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The Caribbean Development Bank (CDB) and the European Investment Bank (EIB) have setup a post emergency disaster project, to assist Caribbean countries recover after hurricanes Irma and Maria.

Both parties signed a U.S. 24-million-dollar agreement, on the sidelines of the United Nations Climate Change Conference (COP23), in Germany on Monday.

The arrangement will assist with structural reconstruction, with a focus on building back better.

The new financing package, is an addition to the USD 120 million-dollar Climate Action Framework Loan that the EIB agreed to contribute to Caribbean countries in May.

EIB Vice President responsible for Climate Action, Jonathan Taylor reiterates the Bank’s support for the Caribbean through climate financing.

EIB Vice President responsible for Climate Action, Jonathan Taylor

CDB President, Dr. Warren Smith signed on behalf of his bank.

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