News Releases

CDB partners with UWItv to promote new EU Standby Facility

For Release Upon Receipt - September 14, 2020

UWI


Regional citizens will soon have access to educational and promotional products on trade, co-operation and regional integration developed by UWItv on behalf of the Caribbean Development Bank (CDB). This follows the signing of an agreement between the CDB and The University of the West Indies (The UWI) which authorises UWItv—the University’s public education and information asset—to provide production and multimedia support to the Bank’s Standby Facility.  

Over the next two years, UWItv will produce and broadcast content generated from CDB’s regional co-operation and integration focused projects in 15 CARIFORUM countries supported by the CARIFORUM-European Union Economic Partnership Agreement (EPA) and the CARICOM Single Market and Economy (CSME) Standby Facility for Capacity Building. The facility is funded by the 11th European Development Fund (EDF). 

“CDB is pleased to deepen its collaboration with The UWI,” said Daniel Best, Director, Projects Department at the CDB. “This arrangement offers an opportunity to showcase the critical support being provided by the Bank under the EU Standby Facility to strengthen trade and promote regionalism in areas such as agriculture exports, standards and port infrastructure. Trade fuels development and this engagement will allow us to demonstrate its impact on a regional platform in a manner that is easily understood and accessible.” 

According to Luis Maia, Head of Cooperation at the Delegation of European Union to Barbados, the agreement which took effect in August 2020, ensures the promotion of a strategic regional project which fosters co-operation, strengthens institutions and builds capacity. He noted that “this is a critical element of the EU’s support to the development of the CSME and for the Caribbean region to take advantage of the trade benefits presented under the EPA.” 

UWItv’s Managing Director, Ms. Janet Caroo welcomed the opportunity to collaborate with CDB, which has over the years provided funding and other support to the multimedia agency. This undertaking allows UWItv to demonstrate some innovative multimedia products by providing coverage to various regional projects supported by the EU Standby Facility.  

Ms. Caroo stated, “Since its inception in December 2016, UWItv has been committed to serving the public education needs of the Caribbean. We’ve nurtured a one-of-a-kind platform and we are pleased to leverage and extend our capacity in Video, Audio and Live Streaming Production and Support Services to our wider Caribbean community through this partnership with CDB.” 

The Standby Facility is a EUR 8.75 million resource managed by the CDB. The Facility offers opportunities to 15 Caribbean countries to grow trade, deepen integration and economic involvement, and increase competitiveness, market access and exports by implementing targeted projects in thematic areas.  

 

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About The UWI 

For over 70 years The University of the West Indies (The UWI) has provided service and leadership to the Caribbean region and wider world. The UWI has evolved from a university college of London in Jamaica with 33 medical students in 1948 to an internationally respected, regional university with near 50,000 students and five campuses: Mona in Jamaica, St. Augustine in Trinidad and Tobago, Cave Hill in Barbados, Five Islands in Antigua and Barbuda and an Open Campus. As part of its robust globalization agenda, The UWI has established partnering centres with universities in North America, Latin America, Asia, Africa and Europe including the State University of New York (SUNY)-UWI Center for Leadership and Sustainable Development; the Canada-Caribbean Institute with Brock University; the Strategic Alliance for Hemispheric Development with Universidad de los Andes (UNIANDES); The UWI-China Institute of Information Technology, the University of Lagos (UNILAG)-UWI Institute of African and Diaspora Studies; the Institute for Global African Affairs with the University of Johannesburg (UJ); The UWI-University of Havana Centre for Sustainable Development; The UWI-Coventry Institute for Industry-Academic Partnership with the University of Coventry and the Glasgow-Caribbean Centre for Development Research with the University of Glasgow. 

The UWI offers over 800 certificate, diploma, undergraduate and postgraduate degree options in Food & Agriculture, Engineering, Humanities & Education, Law, Medical Sciences, Science & Technology, Social Sciences and Sport.  

As the region’s premier research academy, The UWI’s foremost objective is driving the growth and development of the regional economy. The world’s most reputable ranking agency, Times Higher Education, has ranked The UWI among the top 600 universities in the world for 2019 and 2020, and the 40 best universities in Latin America and the Caribbean for 2018, 2019 and 2020. The UWI has been the only Caribbean-based university to make the prestigious lists.  For more, visit www.uwi.edu. 

(Please note that the proper name of the university is The University of the West Indies, inclusive of the “The”, hence The UWI.)  

 

About CDB 

The Caribbean Development Bank is a regional financial institution established in 1970 for the purpose of contributing to the harmonious economic growth and development of its Borrowing Member Countries (BMCs). In addition to the 19 BMCs, CDB’s membership includes four regional non-borrowing members – Brazil, Colombia, Mexico and Venezuela and five non-regional, non-borrowing members; i.e., Canada, China, Germany, Italy, and the United Kingdom. CDB’s total assets as at December 31, 2018 stood at USD3.24 billion (bn). These include USD1.75 bn of Ordinary Capital Resources and USD1.49 bn of Special Funds Resources. The Bank is rated Aa1 Stable with Moody’s, AA+ Stable with Standard & Poor’s and AA+ Stable with FitchRatings. Read more at caribank.org. 

 

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