CDB, Trinidad and Tobago discuss new multi-source finance facility to transform region’s energy sector

CDB President, Dr Hyginus ‘Gene’ Leon (left), and Min. of Energy and Energy Industries of Trinidad and Tobago, the Hon. Stuart R. Young M.P. in Port of Spain on 24 January, 2022 (Photo via CDB)
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(Caribbean Development Bank Press Release) President of the Caribbean Development Bank (CDB), Dr Hyginus ‘Gene’ Leon and Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister of Trinidad and Tobago, the Honourable Stuart R. Young, M.P. (on Monday) discussed a multisource financing facility that could have a transformative development impact for the region’s energy sector.

The facility would combine various sources of financing, including from the private sector.

The discussions also covered financial support available from CDB for Carbon Competitive projects in its Borrowing Member Countries and the need to increase sources of financing to implement transformative projects throughout the region.

From left – Senior Advisor to the President of CDB, Dr. Shelton Nicholls; Director of Projects, Daniel Best; Permanent Secretary (Ag.) Sandra Fraser; CDB President, Dr. Hyginus ‘Gene’ Leon; Minister of Energy and Energy Industries, the Honourable Stuart R. Young M.P.; and CDB Vice-President of Operations, Isaac Solomon (Photo via CDB)

The CDB President is on a working visit to Trinidad and Tobago for sectoral discussions to cement plans for projects including in energy, education and digitalisation.

“Trinidad and Tobago is CDB’s joint shareholder and a critical partner. CDB is moving expeditiously to finalise plans for project implementation to support the country’s development agenda,”Dr Leon said.

The CDB team is meeting with representatives from government ministries and agencies in the key areas being explored for development collaboration. The senior executives will head to Tobago tomorrow for meetings with the Tobago House of Assembly.

The delegation includes CDB Vice-President of Operations, Isaac Solomon; Director of Projects, Daniel Best; and Senior Advisor to the President of CDB, Dr Shelton Nicholls.

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