March 7, 2012 No. 13/12-BD BARBADOS URBAN REHABILITATION LOAN REVISION APPROVED The Board of Directors of the Caribbean Development Bank (CDB) has approved a revision in scope of a loan approved for the Government of Barbados for an urban rehabilitation project. Four of the components included in an Urban Rehabilitation Project for which the original loan equivalent to USD25.23 million was approved in the year 2000 have been removed and three new ones added. Under the revised scope of the project, the Constitution River in Bridgetown will be redeveloped by dredging/excavating 550 metres of the river channel; the banks protected from erosion by the placement of a stone riprap layer; and the finished levels in the rear car park of the Queen Elizabeth Hospital raised to alleviate flooding in this area. In addition, CCCTV systems will be supplied and installed at several locations in St. Lawrence Gap, Bridgetown and their environs. The revised project will also include the redevelopment of Church Village in Bridgetown, consisting of landscaping works, installation of street furniture, and improvement of pedestrian and wheelchair access. The estimated cost of the additional works is USD29.30 million, and will be financed out of the undisbursed balance of the original loan and a contribution from the Government of Barbados.