The Barbados-based Caribbean Development Bank (CDB) and the World Bank (WB) have in collaboration with the St. Vincent and the Grenadines government have determined a set of priority actions to strengthen project implementation and ensure continued alignment with the country’s development agenda.
They have agreed to streamline their portfolios for greater efficiency, deepen their partnership to maximise resources, and assess local market conditions in light of the construction boom and the demand for skilled human resources.
They are also committed to strengthening inter-ministerial coordination, building the capacity of Project Implementation Units, contractors, and consultants, and fostering internal reflection within both institutions to adopt a more client-focused, flexible, and collaborative approach.
According to a statement issued here, the agreements are as a result of the Country Project Portfolio Review that brought together senior government officials, CDB and WB representatives, and key stakeholders to examine the status of jointly financed projects.
The discussions also highlighted national priorities in disaster risk management, climate change adaptation, resilient infrastructure, education, health systems strengthening, and economic diversification.
The statement said that lessons learned were shared from major initiatives such as the Volcanic Eruption Emergency Recovery, Hurricane Beryl Emergency Resilient Recovery, Port Modernisation, Coastal and Marine Ecosystems Management, and the Caribbean Digital Transformation.
‘By working alongside the World Bank and the government, CDB is ensuring that investments are both transformative and sustainable, tackling immediate needs while laying the groundwork for long-term growth,’ said CDB acting director of Projects, L. O’Reilly Lewis.
The World Bank Director for the Caribbean, Lilia Burunciuc, also underscored the depth of collaboration, saying ‘this review highlights the strong collaboration between the government, the World Bank, and CDB in addressing urgent recovery needs while advancing reforms that support resilience, innovation, and opportunities for Vincentians’.