Caribbean Development Bank and World Bank Agree on Key Actions to Advance Projects in St. Vincent and the Grenadines

The Caribbean Development Bank(CDB) and the World Bank(WB), together with the Government of St. Vincent and the Grenadines, have determined a set of priority actions to strengthen project implementation and ensure continued alignment with the country's development agenda.

As part of the way forward, the Government, CDB, and WB 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 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.

These agreements came out of the Country Project Portfolio Review, which convened 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. 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.

CDB Director of Projects (Ag.), Mr. L. O'Reilly Lewis, highlighted the significance of aligning investments with national development goals, explaining, "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."

World Bank Director for the Caribbean, Ms. Lilia Burunciuc, also underscored the depth of collaboration, stating, "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."

The Country Project Portfolio Review took place from September 8 to 12, 2025. It included meetings at the Ministry of Finance in Kingstown, as well as site visits and discussions between both Banks. Continued dialogue among CDB, WB and the Government is anticipated on priority development areas for the future.

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Photo caption: The Honourable Ralph Gonsalves, Prime Minister of St. Vincent and the Grenadines (centre), joined Mr. O'Reilly Lewis, Acting Director of Projects at the Caribbean Development Bank (CDB) (fourth from left), along with representatives from CDB and the World Bank, for the Country Project Portfolio Review.