Early Warning System

Countries

Grenada

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

Caribbean Development Bank (CDB)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Active

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Dec 9, 2021

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Government of Grenada

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Humanitarian Response

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Loan Amount (USD)

$ 8.95 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Project Cost (USD)

$ 9.43 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Bank Documents

APPRAISAL REPORT

Primary Source

Original disclosure @ CDB website

Updated in EWS Jun 22, 2023

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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated on the CDB's website, the Loan will assist the Government of Grenada in financing a project that will promote equitable cash transfers and the expansion of safety net services using the platforms of existing cash transfer programmes to persons directly affected by COVID-19 as well as vulnerable populations working in the formal and informal sectors, who are not part of existing cash transfer programmes but who have been impacted by the pandemic

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

CDB Team Leaders:

Mr. Daniel Best - Director, Projects Department
Email: bestd@caribank.org
Phone: +246 431-1710

Ms. Deidre Clarendon - Division Chief, Social Sector Division
Email: clarend@caribank.org
Phone: +246 431-1656

Implementing Agency - Ministry of Finance, Economic Development, Physical Development, and Energy:

Address: Financial Complex, The Carenage, St. George’s, Grenada
Phone: +473 440-2731 – (4)
Fax: +473 440-4115
Email: financegrenada@gmail.com
Website: https://www.finance.gd/

ACCOUNTABILITY MECHANISM OF THE CDB

Complaints about suspected fraud and/or corruption may be submitted to the Office of Integrity, Compliance and Accountability. Allegations may be made by a variety of sources including staff, consultants, contractors, and other persons who may consider themselves participants in, witness to or victims of wrongdoing.

To make a complaint, access the following webpage: https://secure.ethicspoint.com/domain/media/en/gui/55678/index.html.