In accordance with the authority delegated by the Board of Directors at its Two Hundred and Ninety-Second Meeting (Minute 292.20), the President approved a loan in the amount of eight million, nine hundred and fifty thousand United States dollars (USD8,950,000) to the Government of Grenada (GOGR) (the Loan) from the Other Special Funds of theCaribbeanDevelopment Bank (CDB), allocated from funds provided by the Inter-American Development Bank to CDB under the Global Loan Programme to build health, social and economic resilience in the member countries of the Organisation of Eastern Caribbean States during the Coronavirus Disease 2019 (COVID-19) crisis, on the terms and conditions referred to in the attached Report. The Loan will assist GOGR in financing a project that will promote equitable cash transfers and the expansion of safety net services using the platforms of existing cash transfer programmes to persons directly affected by COVID-19 as well as vulnerable populations working in the formal and informal sectors, who are not part of existing cash transfer programmes but who have been impacted by the pandemic (the Project).