World Bank Donates US$15 Million To Eastern Caribbean Health Sector

(LOOP NEWS CARIBBEAN) – The World Bank Board has approved US$15 million in additional financing for health sector projects in the Eastern Caribbean.

A statement from the Board of Directors said this will replenish funds that were redirected from these projects to support the countries’ immediate emergency response to the COVID-19 pandemic.

The World Bank provided funds to Dominica, Grenada, Saint Lucia and St Vincent and the Grenadines to fast track procurement of essential medical equipment and strengthen medical facilities during the pandemic.

The World Banks Country Director for the Caribbean, Tahseen Sayed said: “A strong health sector is essential to save lives and build countries’ resilience. The additional financing ensures that important health projects receive quick replenishment of funds to continue their activities and accomplish project objectives.”

An additional US$10 million was divvied up among three countries for the Organisation of Eastern Caribbean States Regional Health Project.

The allocations are as follows:

  • Dominica US$3 million
  • Grenada US$2.5 million
  • St Vincent and the Grenadines US$4.5 million

The OECS health project aims to improve the preparedness capacity of health systems for public health emergencies.

Saint Lucia also received additional funding for its Health System Strengthening Project which supports improved accessibility, efficiency, and responsiveness of key health services.

The additional financing for these projects comes from the International Development Association (IDA) with a maturity of 40 years, including a grace period of 10 years.