International Development Grant
Support for a Risk Management Study for the Caribbean Development Bank
Project Number: CA-3-M013781001
Status: Closed
Country/Region:
Maximum Contribution: $375,000.00
Start Date: March 21, 2013
End Date: September 30, 2013
Duration: 1.0 years
Project Description
This contribution represents support by Canada for a risk management study commissioned by the Caribbean Development Bank to support stronger institutional effectiveness. The Caribbean Development Bank is a multilateral development financial institution based in Barbados. The Bank works towards the systematic reduction of poverty in its borrowing member countries through social and economic development in the Caribbean including community-driven development and environmental sustainability and regional integration activities. Canada is one of the largest non-borrowing shareholders of the Caribbean Development Bank and one of the largest contributors to its Special Development Fund.
Expected Results
The intermediate results for this project include: 1) strengthened risk management at the Caribbean Development Bank for managing the Bank’s operational credit market liquidity reputation legal and other risks to the Bank; 2) implementation of new initiatives by the Bank to improve its risk management and promote sound financial management; 3) contribute to the re-establishment of a stronger (AAA) credit rating in the medium to long term.
Progress & Results Achieved
Results achieved as of July 2013 include: (i) A strengthened risk management framework at the Caribbean Development Bank is being created for managing the Bank's operational credit market liquidity reputation legal and other risks to the Bank; (ii) This study lead to the creation of a new Risk Office with a Chief Risk Officer already in place who is reviewing and adjusting the Bank's risk policies and instruments to improve the Bank's financial and risk management; (iii) The study has contributed to improvement in risk management by the Bank with a view to stabilise and improve the Bank's credit rating in the medium to long term.
Key Information
Executing Agency:
Caribbean Development Bank
Reporting Organization:
Global Affairs Canada
Program:
YFMInternaAssistPartnershp&Programing Br
Last Modified:
September 19, 2025
Development Classifications
DAC Sector:
Aid Type: Contributions to specific-purpose programmes and funds managed by implementing partners
Collaboration: Bilateral
Finance Type: Aid grant excluding debt reorganisation
Selection Mechanism:
Pre-APP