The Caribbean Development Bank has, over the last twenty-five years, focused its efforts on development of the Commonwealth Caribbean countries, and in particular, the seven small island states that form the Organization of East Caribbean States. It is small in comparison with the two development banks above it: the Inter-American Development Bank and the World Bank, but some of the advantages of smallness, as well as the proximity to and continuity of relations with the partner countries are demonstrated in this study.

List of Tables vii
Foreword, K. Dwight Venner ix
Preface, Roy Culpeper xi
Acknowledgments xiii
List of Acronyms xv
1 Introduction 1
Part 1 Historical Setting and Record of Performance
2 A Brief History of the Bank 9
Institutional Framework, 9
Bank Operations: Policies and Procedures, 17
3 Borrowing Country Experience 23
The Regional Economy, 23
Prospects for Growth by Sector, 27
4 Lending Operations 31
Infrastructure, 33
Agriculture, 35
Industry and Tourism, 37
Development Finance Corporations, 38
Regional Projects, 41
Social Sectors, 42
5 Country Studies 45
The OECS Countries, 45
Barbados, 56
Guyana, 60
Jamaica, 63
Part 2 Development Agenda
6 Resource Mobilization 73
Ordinary Capital Resources, 73
Special Fund Resources, 74
7 Development Agency Functions 83
Technical Assistance, 83
Economic Analysis and Policy Coordination, 87
Regional Cooperation, 90
8 Relations with the Other MDBs 93
IBRD/IDA Role in the Region, 93
Relations with the IDB, 97
9 Looming Development Challenges for the Bank 101
Overview of Strategy to Year 2000,104
Issues to Address, 105
Priorities for Lending, 108
Institutional Changes, 209
Long-term Development Strategy, 111
Appendix 113
Bibliography 119
Index 121
About the Book and Author 133

Chandra Hardy
Chandra Hardy is an associate of the International Development Training Institute in Washington, D.C. She worked from 1967 to 1988 in various posts at the World Bank in Washington, D.C, most recently as senior economist in the Asian region.