CDB WATER MANAGEMENT AND CLEAN OCEANS FL

Promoter – Financial Intermediary

CARIBBEAN DEVELOPMENT BANK

Location

• Regional - Caribbean

Description

This intermediated framework loan with the Caribbean Development Bank (CDB) supports water, sanitation and solid waste infrastructure within CDB's 14 Borrowing Member Countries (BMC) eligible for EIB lending. This operation is a sub project of the Caribbean Water, Sanitation and Ocean Program Loan (2021-0497) which received an Investment and Technical Assistance (TA) grant from the European Commission through the Caribbean Investment Facility (CIF).

Objectives

The objectives of this intermediated framework loan, match the EU's regional strategic objectives for the 2021-2027 Regional MIP for the LAC region. Specifically for the Caribbean Window, the programme would help meeting the policy objectives of the "Caribbean-EU Partnership for a Green Deal", including better water resources conservation and improved waste management. The Framework Loan is expected to result in significant positive externalities in the form of environmental and public health benefits, and will also contribute to Climate Action and Environmental Sustainability. It is in line with the Bank's latest Water Sector Orientation. Some of the schemes will be aligned with the Clean Oceans Initiative (COI).

Sector(s)

• Water, sewerage - Water supply; sewerage, waste management and remediation activities
• Solid waste - Water supply; sewerage, waste management and remediation activities

Proposed EIB finance (Approximate amount)

EUR 100 million

Total cost (Approximate amount)

EUR 200 million

Environmental aspects

The project is expected to contribute to climate action and environmental sustainability objectives, in particular to climate mitigation, climate adaptation, sustainable use and protection of water and marine resources, and environmental sustainability. The framework loan will help achieve the following sustainable development goals: SDG 3: Good Health and Well-being; SDG 6: Clean Water and Sanitation, SDG 11: Sustainable cities and communities; SDG 13: Climate Action and SDG 14: Life Below Water and SDG17: Partnerships for the Goals.

Procurement

The EIB-CDB Procedural Framework on mutual reliance for jointly co-financed public sector projects in common countries of operations was signed in October 2019. This Procedural Framework will be applied for the procurement of the investments to be funded from this Framework Loan. CDB as Lead Financier will supervise and ensure the proper procurement of all the schemes financed by the Bank under the proposed Framework Loan.

Status

Approved - 10/11/2023