The Caribbean Development Bank (CDB) has approved an Exogenous Shock Response Policy-Based Loan of US$50 million to support The Bahamas following the damage caused by Hurricane Dorian.

The Exogenous Shock Response Policy-Based Loan is an instrument to provide resources for financing needs that arise from external and natural hazards shocks that have a significant economic and social impact.

The CDB said in addition to providing finance for the ongoing recovery, the loan will support the implementation of the comprehensive reform programme of The Bahamas.

Economic growth in country has been revised downwards from 1.7 per cent to one per cent in 2019 and from 1.8 per cent to 1.5 per cent in 2020.

http://rjrnewsonline.com/business/cdb-approves-us50-million-loan-for-bahamas-hurricane-relief