The World Bank Board of Executive Directors approved a US$20 million credit to support Grenada\u2019s transition to a resilient blue economy. The Second Fiscal Resilience and Blue Growth Development Policy Credit fosters reforms to support fiscal sustainability, strengthen marine and coastal management, and build climate resilience.<\/p>\n
This operation, the second in a programmatic series of two IDA credits, deepens support for Grenada\u2019s policy and institutional measures to maintain fiscal discipline and diversify the economy towards a blue growth model that is based on sustainable and well-governed use of ocean resources. It includes fiscal reform measures such as building fiscal buffers, improving public expenditure management, instituting customs and excise reforms, and improving transparency of public enterprises.<\/p>\n
\u201cFiscal sustainability and strengthening environmental management are critical for building cross-cutting resilience in Grenada,\u201d said Tahseen Sayed, World Bank Director for the Caribbean.<\/p>\n
\u201cProtecting and preserving the rich marine and ocean resources is essential for the country\u2019s successful transition to a blue economy and for boosting coastal tourism, which contributes 24 percent to the country\u2019s GDP. The World Bank is committed to expanding its support for the Caribbean\u2019s transition to a sustainable blue economy.\u201d<\/p>\n
The operation also supports the Government\u2019s measures for better environment and natural resource management, including integrated coastal zone management and inclusion of environmental sustainability requirements in public procurement. A major policy measure is the ban of Styrofoam food containers, and the phase out of single-use plastic shopping bags and disposable utensils. Plastic pollution represents one of the Caribbean\u2019s main environmental challenges that is polluting watersheds, coastal areas, the ocean, and poses a threat to ocean biodiversity and tourism development.<\/p>\n
The US$20 million operation is financed by the International Development Association, the concessional financing arm of the World Bank. The credit has a maturity of 40 years, and a grace period of 10 years.<\/p>\n","protected":false},"excerpt":{"rendered":"
The World Bank Board of Executive Directors approved a US$20 million credit to support Grenada\u2019s transition to a resilient blue economy. The Second Fiscal Resilience and Blue Growth Development Policy Credit fosters reforms to support […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":4817,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[],"class_list":{"0":"post-4816","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-government-news"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/12\/The-World-Bank-696x464-1.jpg?fit=696%2C464&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"rttpg_featured_image_url":{"full":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/12\/The-World-Bank-696x464-1.jpg?fit=696%2C464&ssl=1",696,464,false],"landscape":["https:\/\/drealfmgrenada.com\/wp-content\/uploads\/2019\/12\/The-World-Bank-696x464-1.jpg",696,464,false],"portraits":["https:\/\/drealfmgrenada.com\/wp-content\/uploads\/2019\/12\/The-World-Bank-696x464-1.jpg",696,464,false],"thumbnail":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/12\/The-World-Bank-696x464-1.jpg?resize=150%2C150&ssl=1",150,150,true],"medium":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/12\/The-World-Bank-696x464-1.jpg?fit=300%2C200&ssl=1",300,200,true],"large":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/12\/The-World-Bank-696x464-1.jpg?fit=696%2C464&ssl=1",696,464,true],"1536x1536":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/12\/The-World-Bank-696x464-1.jpg?fit=696%2C464&ssl=1",696,464,true],"2048x2048":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/12\/The-World-Bank-696x464-1.jpg?fit=696%2C464&ssl=1",696,464,true],"mh-magazine-slider":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/12\/The-World-Bank-696x464-1.jpg?resize=696%2C438&ssl=1",696,438,true],"mh-magazine-content":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/12\/The-World-Bank-696x464-1.jpg?resize=678%2C381&ssl=1",678,381,true],"mh-magazine-large":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/12\/The-World-Bank-696x464-1.jpg?resize=678%2C464&ssl=1",678,464,true],"mh-magazine-medium":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/12\/The-World-Bank-696x464-1.jpg?resize=326%2C245&ssl=1",326,245,true],"mh-magazine-small":["https:\/\/i0.wp.com\/drealfmgrenada.com\/wp-content\/uploads\/2019\/12\/The-World-Bank-696x464-1.jpg?resize=80%2C60&ssl=1",80,60,true]},"rttpg_author":{"display_name":"adminrfm","author_link":"https:\/\/drealfmgrenada.com\/index.php\/author\/adminrfm\/"},"rttpg_comment":0,"rttpg_category":"Government News<\/a>","rttpg_excerpt":"The World Bank Board of Executive Directors approved a US$20 million credit to support Grenada\u2019s transition to a resilient blue economy. The Second Fiscal Resilience and Blue Growth Development Policy Credit fosters reforms to support [...]","_links":{"self":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts\/4816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/comments?post=4816"}],"version-history":[{"count":1,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts\/4816\/revisions"}],"predecessor-version":[{"id":4818,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/posts\/4816\/revisions\/4818"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/media\/4817"}],"wp:attachment":[{"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/media?parent=4816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/categories?post=4816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/drealfmgrenada.com\/index.php\/wp-json\/wp\/v2\/tags?post=4816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}