The Caribbean Development Bank (CDB) has announced that it will construct a new office building in Barbados, redeveloping the current site of its headquarters at Wildey, St. Michael.

The project, approved by the Bank’s Board of Directors in December 2017, will provide adequate accommodations for the CDB’s current and projected staff complement, and integrate environmental sustainability considerations.

“With more than 200 employees and a building that is almost four decades old, it has become essential to construct new office accommodations that will effectively and efficiently support the Bank’s business and staff requirements,” said Phillip Brown, Director, Human Resources and Administration, CDB.

The new office building will efficiently use energy, water and other resources; focus on protecting staff health and improving employee productivity; and prioritise the reduction of waste, pollution and environmental degradation. Building on the existing photovoltaic installation already in operation on CDB’s campus, the new building will provide opportunities to further integrate this renewable energy feature.

In addition, CDB will pursue a Leadership in Energy and Environmental Design (LEED) certification for the new building, which could be among the first in the Bank’s Borrowing Member Countries to achieve the globally recognised green-building rating.

Funding for the project, scheduled for completion in 2020, totals USD36 million (mn).

In 1970, CDB and the Government of Barbados signed an Agreement establishing Barbados as the Bank’s Headquarters Seat. Since then, CDB has provided more than USD480 mn in funding to support economic and social development in Barbados.