Grenada’s Ambassador to the United States and Permanent Representative to the Organisation of American States (OAS), HE Yolande Smith, on Tuesday, 7 January 2020 at the World Bank Headquarters in Washington, DC, signed documents for the Second Resilience and Blue Growth Development Policy Financing on behalf of Grenada.
The Second Resilience and Blue Growth Development Policy Credit will realise a US$20 million loan to Grenada, which will be used to foster reforms to support fiscal sustainability, strengthen marine and coastal management, and build climate resilience.
The terms of the International Development Association (IDA) agreement are 0.75% interest for 40 years, with a 10-year grace period.
This signing comes under prior actions taken by Grenada under the programme based on the original agreement, including the approved implementation schedule for the phase-out of single-use plastic food containers, cutlery and plastic straws as evidenced by the Non-Biodegradable Waste Control act of 2019.
Also affixing her signature to the document from The World Bank was Abha Prasad, Acting Director, Caribbean Country Management Unit, Latin America and Caribbean Region.