CDB launches facility to help governments deal with infrastructure needs

CDB President Dr. Warren Smith launched the CDB’s Regional PPP Support Facility during a brief ceremony Tuesday at the St. Kitts Marriott Resort. The event was a precursor to the opening of the two-day meeting of the CDB’s Board of Governors.

The US$1.2 million Regional PPP Support Facility is based in CDB’s Barbados headquarters and is the result of collaboration between the CDB and its development partners the World Bank, the Inter-American Development Bank, Multilateral Investment Fund and the Public Private Infrastructure Advisory Facility.

According to President Smith, PPPs are long-term contracts between the state and private entities, and indicated there were just a few successful PPPs in the region. He disclosed, “Caribbean governments, while on the right track, could do with technical help to enable them to adopt sound PPP policies and implement sustainable projects.”

The facility has been envisioned since 2013, when the project began with Caribbean specific research on PPPs, and a series of consultations with CDBs partners.

“This important initiative demonstrates the ongoing commitment of the CDB, and our multilateral development partners, to promote the provision of infrastructure services, in the region, through the modality of PPPs,” Smith said.

The Facility will provide services in two main areas, that is, creating and strengthening the enabling environment and providing hand-on support – including screening and developing of potential projects, while developing its own sustainability business plan.

CDB is the primary implementing agency for the Facility, but substantial technical support will be provided by CDB’s multilateral development partners, while the PPP team builds its in-house technical capacity.

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