BRIDGETOWN, Barbados (CMC) — The Caribbean Development Bank (CDB) has announced a programme of assistance of US$76.2 million for St Kitts and Nevis over the period 2017 to 2021.

On Thursday, the bank’s board of directors approved the new strategy, which will support economic and social development, environmental protection and infrastructure enhancement.

“This programme will support the Government of St Kitts and Nevis in maximising its development potential. It is designed to help the country diversify its economy and increase its exports, while addressing challenges related to skills and productivity, competitiveness, social issues, gender and climate change,” said Dr Justin Ram, the CDB’s director of economics.

The proposed programme of assistance is built on three pillars: economic development and enhanced livelihoods, inclusive social development and envirnomental protection, and infrastructure enhancement.

The country strategy is a joint collaboration between the Government of St Kitts and Nevis and CDB.

The bank consulted with stakeholders, including Government officials and development partners, emphasising country ownership of the proposed programme of assistance.

Salient issues that emerged during these discussions, including urgent sector priorities and ongoing interventions supported by other development partners, have been taken into account.

It includes a mix of finance for capital projects and technical assistance. Individual projects will be appraised by CDB and, if deemed to be viable, will then be presented to the board of directors for approval, following which disbursements will commence.