65 Million Earmarked For Grenada

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GIS: Grenada stands to receive more than 60 million US dollars over a three year period from International Development Agency (IDA) funds available for Small States to address climate change, natural disasters, energy and other areas.

That level of support for Grenada was highlighted during a recent meeting with World Bank President Dr. Kim Jim, and Prime Minister Dr. Rt. Hon. Keith Mitchell.

There is a 50% increase in funds from the IDA, from 50 billion to 75 billion dollars for Small States eligible for IDA.

Dr. Mitchell updated the media during a recent Post Cabinet briefing.

“Grenada is now going to have available 65 Million dollars over the next three years for each section of the program for Small States. And what is said is, based on the level of monies available for Small States, if we perform well, there can even be more US dollars for Grenada,” Dr. Mitchell said.

During the meeting which also included a representative from the IDA, the IDA representative said they can front load, meaning they can get 80% of the 65 million as soon as possible.

“It means that we can get, if we move fast, 52 Million US dollars as soon as possible. In addition, you have to come up with projects. But they are now saying you can get half of that for budgetary support. And one of the things that are being stressed is, the reason you are finding this, Prime Minister, is because of what you (Grenada) have done. You have followed a program, you have shown that you are prepared. So, we’re now saying because you have done this, we are prepared to go the extra mile with you,” the Grenada Prime Minister said.

Dr. Mitchell, who is also the Chair of the Small States Forum, says all this is testimony of that fact that Grenada continues to be a shining example for many countries.

“In the Caribbean region, I could tell you, the message out there is – ‘You better do what Grenada is doing. Because, with all the challenges outside there, unless we show them that we are prepared to make the sacrifices as a people, others would not come forward to make the sacrifice to help you”.

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