CDB approves US$3.7 million for tertiary student loan financing in Saint Lucia

July 12, 2023 – BRIDGETOWN, Barbados: More affordable financing options will soon be available for students in Saint Lucia to pursue tertiary education following the approval of a USD3.7 million (mn) loan to the Government from the Caribbean Development Bank (CDB).
The allocation will finance a line of credit for the Saint Lucia Development Bank (SLDB) to provide student loans at interest rates below current market averages. At least 5% of the available amount will be allotted to a Special Student Loan Scheme for individuals from low-income households and other vulnerable groups.
“Saint Lucia has numerous initiatives to substantially increase enrolment in post-secondary education and training and CDB is boosting these efforts by making resources available at attractive and affordable rates because given the cost of tertiary education, loan financing is the only option for some students,” the Bank’s Director of Projects, Mr. Daniel Best explained.
“At every level, the CDB understands that an adequately trained workforce is integral to socio-economic development and resilience, and we therefore support initiatives that increase access to tertiary education, especially for the financially disadvantaged,” he added.
The Bank has also approved a USD250,000 grant for an institutional strengthening programme at the SLDB. The intervention will increase the strategic leadership, credit management, and customer service capacity of the organization.
“CDB’s investment of almost USD 4 mn will enable the Saint Lucia Development Bank to fulfil its mandate, and it will support the Government of Saint Lucia in promoting and providing equitable access to tertiary level education. In fulfilling these objectives, we are continuing to facilitate socio-economic development,” Mr. Best said.

Copyright 2012 Dominica News Online, DURAVISION INC. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.

Disclaimer: The comments posted do not necessarily reflect the views of and its parent company or any individual staff member. All comments are posted subject to approval by We never censor based on political or ideological points of view, but we do try to maintain a sensible balance between free speech and responsible moderating.

We will delete comments that:

  • contain any material which violates or infringes the rights of any person, are defamatory or harassing or are purely ad hominem attacks
  • a reasonable person would consider abusive or profane
  • contain material which violates or encourages others to violate any applicable law
  • promote prejudice or prejudicial hatred of any kind
  • refer to people arrested or charged with a crime as though they had been found guilty
  • contain links to "chain letters", pornographic or obscene movies or graphic images
  • are off-topic and/or excessively long

See our full comment/user policy/agreement.

Post a Comment

Your email address will not be published. Required fields are marked *

:) :-D :wink: :( 8-O :lol: :-| :cry: 8) :-? :-P :-x :?: :oops: :twisted: :mrgreen: more »

 characters available