{"id":316414,"date":"2024-02-07T08:00:20","date_gmt":"2024-02-07T12:00:20","guid":{"rendered":"https:\/\/dominicanewsonline.com\/news\/?p=316414"},"modified":"2024-02-06T22:58:45","modified_gmt":"2024-02-07T02:58:45","slug":"cdb-honours-commitment-to-youth-transformation-with-launch-of-yea-project-in-st-lucia","status":"publish","type":"post","link":"https:\/\/dominicanewsonline.com\/news\/homepage\/homepage-carousel\/cdb-honours-commitment-to-youth-transformation-with-launch-of-yea-project-in-st-lucia\/","title":{"rendered":"CDB honours commitment to youth transformation with launch of YEA project in St Lucia"},"content":{"rendered":"<div align=\"justify\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-316415\" src=\"https:\/\/dominicanewsonline.com\/news\/wp-content\/uploads\/2024\/02\/unnamed-11-642x428.jpg\" alt=\"\" width=\"640\" height=\"427\" \/><\/div>\n<div align=\"justify\">Marking a transformative leap towards youth empowerment and economic advancement, the Caribbean Development Bank (CDB) and the Government of Saint Lucia (GOSLU) officially launched the Saint Lucia Youth Economy Agency (YEA) Project at the Sandals Halcyon in Saint Lucia on Tuesday, February 6, 2024.<\/div>\n<div align=\"justify\"><\/div>\n<div align=\"justify\">Under the agreement, a substantial USD7.6 million will be allocated to fuel this ground-breaking initiative, poised to make a lasting impact on the lives of more than 3000 young individuals.<\/div>\n<div align=\"justify\"><\/div>\n<div align=\"justify\">The Youth Economy Project, approved in July 2023, is designed to provide business training or financing for aspiring young entrepreneurs, aged 15 to 35. As a pivotal element in promoting social inclusivity and gender responsiveness, the project is set to engage 600 young people in intensive business development, planning, marketing, and management training. Additionally, 120 youths will receive personalised business mentoring, coaching, and financial support.<\/div>\n<div align=\"justify\"><\/div>\n<div align=\"justify\">Beyond individual capacity-building, the project aims to support over 3,000 young individuals, aged 18 to 25, in various enterprise activities encompassing agriculture, agro-processing, manufacturing, retail, and the services industries, spanning the blue, green, and orange economies.<\/div>\n<div align=\"justify\"><\/div>\n<div align=\"justify\">The timely project will drive youth economic empowerment and contribute to investment and capacity development in youth-led enterprises with the ultimate goal of mitigating youth unemployment and enhancing social resilience. \u00a0The project&#8217;s commitment to social inclusivity and gender equality, will ensure that services, investments, and operations cater to the diverse needs of men, women, boys, and girls.<\/div>\n<div align=\"justify\"><\/div>\n<div align=\"justify\">CDB Division Chief,\u00a0Dr Martin Baptiste,\u00a0Social Sector Division, said the historical moment, marked the Bank\u2019s commitment to the future of Saint Lucia\u2019s young people.<\/div>\n<div align=\"justify\"><\/div>\n<div align=\"justify\">\u201cWe absolutely see the value in this as a viable development solution. This is a solemn obligation to the generations that are here that will assure that our young people will continue to thrive. The Youth Economy Project is truly transformational. This project is here because the future is now,\u201d\u00a0Dr. Baptiste\u00a0said.<\/div>\n<div align=\"justify\"><\/div>\n<div align=\"justify\">Mr. Bryan Vidal, Chief Executive Officer,\u00a0Youth Economy Agency,\u00a0said the YEA anticipated significant personal growth among its clientele.<\/div>\n<div align=\"justify\"><\/div>\n<div align=\"justify\">\u201cIn providing resources to the agency, the Bank has endorsed the vision of Prime Minister Hon. Philip J. Pierre, further enabling our expanded cadre of officers to do even more to grow the youth entrepreneur ecosystem. With their assistance, we are now better poised to water the roots, and to place our clients in positions where\u00a0they\u00a0can\u00a0bloom,\u201d said\u00a0Mr. Vidal.<\/div>\n<div align=\"justify\"><\/div>\n<div align=\"justify\">Mr. Vidal\u00a0noted that the YEA was pleased with the response to the project.<\/div>\n<div align=\"justify\"><\/div>\n<div align=\"justify\">\u201cThe YEA was created to\u00a0support Saint Lucia&#8217;s young entrepreneurs through interventions including funding and training, to plant the seeds for the next generation of business leaders. From inception, we have been overwhelmed by the volume of interest from eligible persons, clearly indicative of the need for such an organisation. We are delighted that the CDB has also recognised the agency as fit for purpose,\u201d said\u00a0Mr. Vidal.<\/div>\n<div align=\"justify\"><\/div>\n<div align=\"justify\">This launch reinforces the strengthened partnership between CDB and Saint Lucia since January 2023, with initiatives and agreements exceeding USD63 million in loan and grant funding, including co-financing commitments from the Government and donor partners including the InterAmerican Development and the European Investment Bank.<\/div>\n<div align=\"justify\"><\/div>\n<div align=\"justify\">\n<div align=\"justify\">About the Caribbean Development Bank<\/div>\n<div align=\"justify\"><\/div>\n<div align=\"justify\">The Caribbean Development Bank is a regional financial institution established in 1970 for the purpose of contributing to the harmonious economic growth and development of its Borrowing Member Countries (BMCs). In addition to the 19 BMCs, CDB\u2019s membership includes four regional, non-borrowing members (Brazil, Colombia, Mexico, and Venezuela) and five non-regional, non-borrowing members (Canada, China, Germany, Italy and the United Kingdom). CDB\u2019s total assets as at December 31, 2022, stood at US$3.46 billion (bn). These include US$2.06 bn of Ordinary Capital Resources and US$1.40 bn of Special Funds Resources. The Bank is rated Aa1 Stable by Moody\u2019s, AA+ Stable by Standard &amp; Poor\u2019s and AA+ Stable by Fitch Ratings. Read more at\u00a0<a href=\"https:\/\/r20.rs6.net\/tn.jsp?f=001VL65sq6HeblH3kLhYt-PwGapzy7atfi2CaCPDLSHL_VwmYiPiMgnN7IJVFm_HjLFELDihfY74CU9lBRwzzVdh8z2pYn4zne9qVlJKdFlneiKP3vO9mJCtuPp3HIS3zRf_c3ULUpiPk0Fob7THv66ml2K-L52MPjWatX4_JIiu0MR1Y6m-nRd-cenoqviloy5uH4yWNrorI2Hdo6HTyd8OVwNk1OjPkcCiNKUnAIIkxX4fK9ybbYHrJXBs3J4rpV5WCLKuHF-ZhCpz7hTwfI5yrqIRbML1a__Sm2-zJ7BxF1OJEx_w94C_BpOL9QdqLBjp2mWIXRyzyWfg7PI00PVA9YLtDCKuZUNoDBtLRXKsiAIZV7IwnaMxNrQLd4cutLhvZL5erVOSKcL9SZvfZewSponS-re9oPuHi8m_xMVLM-pin8zvSCSnjnqcu-DGstQDODQonwEJmMLEqcv-e6gUyI7eKmy_zXFAwr5rWArQ_G2bvvOPCPzekGn6FoAShl7AC7uN7HqKwY40g2bBGGEKSmxnbt4PQgQ_l4r3L2BBhSYgFpTlIE-8w==&amp;c=7u-sAP1P8q_JtsvzvKPMeirgYLVh8H9z0i9gZ89npEmH4JkIQN3QEg==&amp;ch=KJS7zd4GtAi8ATQ5jM-doHreMXzt7kdM5qOAxOQMaS6AX4HiEcNfWg==\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/r20.rs6.net\/tn.jsp?f%3D001VL65sq6HeblH3kLhYt-PwGapzy7atfi2CaCPDLSHL_VwmYiPiMgnN7IJVFm_HjLFELDihfY74CU9lBRwzzVdh8z2pYn4zne9qVlJKdFlneiKP3vO9mJCtuPp3HIS3zRf_c3ULUpiPk0Fob7THv66ml2K-L52MPjWatX4_JIiu0MR1Y6m-nRd-cenoqviloy5uH4yWNrorI2Hdo6HTyd8OVwNk1OjPkcCiNKUnAIIkxX4fK9ybbYHrJXBs3J4rpV5WCLKuHF-ZhCpz7hTwfI5yrqIRbML1a__Sm2-zJ7BxF1OJEx_w94C_BpOL9QdqLBjp2mWIXRyzyWfg7PI00PVA9YLtDCKuZUNoDBtLRXKsiAIZV7IwnaMxNrQLd4cutLhvZL5erVOSKcL9SZvfZewSponS-re9oPuHi8m_xMVLM-pin8zvSCSnjnqcu-DGstQDODQonwEJmMLEqcv-e6gUyI7eKmy_zXFAwr5rWArQ_G2bvvOPCPzekGn6FoAShl7AC7uN7HqKwY40g2bBGGEKSmxnbt4PQgQ_l4r3L2BBhSYgFpTlIE-8w%3D%3D%26c%3D7u-sAP1P8q_JtsvzvKPMeirgYLVh8H9z0i9gZ89npEmH4JkIQN3QEg%3D%3D%26ch%3DKJS7zd4GtAi8ATQ5jM-doHreMXzt7kdM5qOAxOQMaS6AX4HiEcNfWg%3D%3D&amp;source=gmail&amp;ust=1707337454997000&amp;usg=AOvVaw3VDwNq6z9sixcY0mR32NDy\">caribank.org<\/a>.<\/div>\n<div align=\"justify\"><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"Marking a transformative leap towards youth empowerment and economic advancement, the Caribbean Development Bank (CDB) and the Government of Saint Lucia (GOSLU) officially launched the Saint Lucia Youth Economy Agency (YEA) Project at the Sandals Halcyon in Saint Lucia on&#8230;","protected":false},"author":13,"featured_media":316415,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","footnotes":""},"categories":[18,320,36,16,235,9,14],"tags":[],"class_list":["post-316414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-charitable-activity-or-foundation","category-economy-development","category-educationyouth","category-homepage-carousel","category-news","category-regional"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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