St. Vincent and the Grenadines World Bank Loan

St. Vincent and the Grenadines’ Permanent Representative to the Organisation of American States (OAS) and Ambassador to Washington La Celia Prince is expected to sign a World Bank agreement on behalf of this country very soon.

Prime Minister Dr Ralph Gonsalves announced at a media briefing last week that he received a response from the World Bank earlier this month indicating that it was ready to sign the grant and all other agreements with this country.

He said a letter is being prepared to authorize Ambassador Prince to sign on this country’s behalf at the World Bank Headquarters.

The agreement will be in the sum of 40.6 million US dollars, amounting to over 100 million EC dollars and will be made up of three components.

The first component will be credit from the International Development Association (IDA) soft monies equivalent of 16.6 million US dollars; the second is an IDA credit from the crisis response window amounting to 19 million US and the third is a grant totaling five million US from the climate investment funds pilot programme for climate resilience under the strategic climate change fund.