OVERVIEW
Poverty is Not Insurmountable
Despite improvements over the past two decades, poverty rates in the Caribbean still average around 26-30%. As a result, citizens across the Region have limited access to basic services like healthcare, clean water, and adequate food and nutrition.
High poverty levels also impede the educational prospects of the Region’s young people by limiting learning opportunities or pushing them into the labour market too early. It also contributes to environmental degradation and social instability and impedes economic development.
Transforming Lives through Poverty Reduction
Trends and projections of poverty,
vulnerability and middle classes in
Latin America and the Caribbean 2000-23
Through the Special Development Fund (SDF), the Caribbean Development Bank (CBD) is tackling the problem at its roots, primarily through its flagship poverty reduction programme, the Basic Needs Trust Fund (BNTF). This grant-funding initiative focuses on poverty alleviation, social inclusion, and community development across CDB’s Borrowing Member Countries.
CDB, which receives contributions from its member nations and non-member donors, is the main source of funding for the BNTF. Financing has been channeled to initiatives which have facilitated infrastructure development, community empowerment and the provision of basic services, benefiting over 3 million people in vulnerable communities. Here’s what this translates to in real-life change:
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Improved Education and Infrastructure - by expanding access to education and vital infrastructure like roads and bridges, we are investing in the futures of our communities. These initiatives not only improve daily life for the vulnerable but also create new opportunities. |
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Water and Sanitation - by increasing access to this critical resource our projects enhance health and well-being in underserved communities. |
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Community Empowerment - By allowing communities to participate in project development and execution, we promote unity, empowerment, and ownership at all levels of society. |
BNTF SNAPSHOT
"The Basic Needs Trust Fund is making tangible impacts in reducing poverty and improving lives across the Caribbean region. However, our work is far from done. Poverty remains an impediment, hindering human potential and economic growth. The BNTF will continue its mission, working hand-in-hand with vulnerable communities, to create opportunities, build resilience, and create a more just and prosperous future for all Caribbean citizens."
- George Yearwood, BNTF Portfolio Manager, CDB
Our Investments
Since 1984, the SDF has contributed over $2.1 billion in loans and grants to help reduce poverty in the Region. This investment has gone towards:
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Creating stronger, more resilient infrastructure, such as highways, schools, and hospitals. |
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Providing capacity building for regional organisations to support better decision-making that improves effectiveness and efficiency. |
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Reducing project financing costs for member nations by enabling them to combine SDF concessional loan or grant funds with other funding sources. |
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Promptly reallocating funds to address critical needs during disasters and crises, assisting member nations in their recovery and reconstruction |