SAN JUAN: The Caribbean Development Bank has approved a $10 million loan to the government of Grenada to support reforms aimed at stabilizing the island’s economy.
This is the second of three tranches the CDB is to provide to underwrite Grenada’s 36-month “homegrown” adjustment program to restore fiscal and debt sustainability, the Caribbean Community said Monday on its Web site.
This program is also endorsed by the International Monetary Fund and the World Bank.
Grenada, a member of the CDB since its inception in 1970, has received a total of $226 million from the institution.
The other CDB members are: Anguilla; Antigua and Barbuda; Barbados; Belize; the British Virgin Islands; the Cayman Islands; Dominica; Guyana; Haiti; Jamaica; Montserrat; St. Kitts and Nevis; St. Lucia; St. Vincent and the Grenadines; Suriname; the Bahamas; Trinidad and Tobago; and the Turks and Caicos Islands.
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