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.