Last update: 19-Dec-2013 7:24 am
Thursday, December 19, 2013
Trinidad & Tobago Guardian Online
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IDB’s portfolio in T&T is US$500mn
The Inter-American Development Bank’s country representative in T&T, Michelle Cross Fenty says the IDB’s existing portfolio of loans and development assistance to T&T is close to US$500 million, which makes the Washington DC-based institution the leading source of multi-lateral lending for the country.
Under the current administration, the activity of the IDB, which has been a development partner of T&T for over 40 years, has grown significantly with the institution’s work touching the lives of thousands of the country’s residents.
T&T’s country strategy was completed in 2011 and the sector priorities for the country for three to five years are water and wastewater, education, housing, citizen security, public sector management, financial sector reform and private sector development.
Among the programmes that the institution is currently administering in T&T are citizen security, E-government, seamless education and the reform of the social safety net.
Its largest loan is the US$246 million allocated for the Multi-phase Wastewater Rehabilitation Programme, which will see new treatment facilities being established in Maloney, Malabar and San Fernando. The wastewater disbursement includes US$20 million for a separation programme at WASA.
In 2013, the IDB approved a Health Services Support programme and a US$120 million Flooding Alleviation and Drainage programme. The monies for those programmes have not been disbursed as yet. The Government is also working with the IDB to access funding for the digitization of the Registrar General’s Office and the export of IT services.
In an interview with the Business Guardian at her St Clair office, which is opposite the Office of the Prime Minister, she said: “The goal of the IDB is to develop, design and finance projects or programmes that help to accelerate sustainable development for its member countries.”
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