Early Warning System

Countries

St. Vincent and the Grenadines

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

Specific Location

Sand Bay, North Windward

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

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 1, 2018

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 St. Vincent and the Grenadines

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

Sectors

Climate and Environment

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)

$ 13.47 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)

$ 16.38 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

NOTIFICATION OF APPROVAL BY THE BOARD OF DIRECTORS

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.

According to the CDB, the project will enhance the resilience of the Sandy Bay and other North Windward communities to coastal hazards and the impacts of climate change by constructing climate-resilient sea defences. This will lead to reduced loss of life, physical and economic damage and shorten the recovery period following a disaster.

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

Mr. L. O'Reilly Lewis - Division Chief

Implementing Agency - Ministry of Transport Works, Urban Development and Local Government:

Address: Halifax Street, Kingstown, Saint Vincent
Email: office.mtw@gov.vc / ps.mtw@gov.vc
Phone: +784 457-2031
Website: http://transport.gov.vc/transport/

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.