In a significant move aimed at bolstering economic resilience and fostering sustainable progress, the World Bank has approved a US$30 million Development Policy Credit for Grenada. This financial support is part of a broader strategy to aid the Caribbean nation in its recovery from recent economic challenges, including the impacts of natural disasters and the ongoing repercussions of the COVID-19 pandemic. The funding will facilitate critical reforms and investments in key sectors, paving the way for a more robust and adaptive economy. As Grenada seeks to enhance its resilience against future shocks, this commitment from the World Bank underscores the international community’s recognition of the island’s pressing developmental needs and the imperative to strengthen its recovery efforts.
World Bank’s Strategic initiative for Grenada’s Economic Recovery
The World Bank’s recent approval of a US$30 million Development Policy credit marks a significant step in bolstering Grenada’s pathway to economic recovery and resilience. The initiative is designed to address various socio-economic challenges faced by the nation, with a strong emphasis on enhancing fiscal management, promoting sustainable economic growth, and improving the effectiveness of public services. As Grenada grapples with the aftermath of the…
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Author : Ava Thompson
Publish date : 2025-04-09 15:29:00
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