BRIDGETOWN, Barbados, Tuesday October 24, 2018 – The Caribbean Development Bank (CDB) and The University of the West Indies (UWI) have signed a historic Memorandum of Understanding (MoU) focused on promoting institutional strengthening and evidence-based decision making for economic and social policy issues relevant to the region.
The CDB said the MoU supports a stronger partnership between the two institutions on programmes and projects. It covers shared priorities such as promoting youth development and community inclusion through sport, improving implementation capacity and developing joint training and educational programmes.
CDB President Dr Warren Smith hailed the agreement as a vital step that will allow for deeper collaboration and cooperation on critical issues facing the Caribbean.
“With the signing of this MoU, we are cementing almost 50 years of collaboration and cooperation, broadening the strategic focus of our collaboration, and creating new pathways for deepening our relationship. CDB is energized by the opportunities it presents for knowledge-sharing, research and innovation, and is pleased to partner with the UWI in this enterprise. We look forward to strengthening our decades-long partnership and to taking our collaboration to even higher levels for the benefit of our region,” he said.
UWI Vice-Chancellor, Professor Sir Hilary Beckles described the CDB as a valued partner in advancing the development of the region, which is the primary mandate of the University.
“It is undeniable that this region is currently faced with fundamental issues of inequality, economic growth, technological advancements, democracy and social justice. At this moment the Caribbean region demands sustainable, regional solutions, birthed out of partnerships such as this one,” he said.
“In the conceptualization and implementation of its current strategic plan, deemed ‘The Triple A Strategy’, the UWI’s mandate focuses on revitalizing Caribbean development. The MoU…re-emphasizes our commitment and dedication to advancing the well-being of our Caribbean people.”
CDB and the UWI have ongoing partnerships that support the 2030 Sustainable Development Agenda, including projects in areas such as climate adaptation and mitigation, gender equality, and education and training.
In 2013, the Bank approved a US$13 million project to support the expansion and rehabilitation of the UWI’s Open Campus locations in St Lucia, and St Vincent and the Grenadines. It also invested in the development of UWItv and in 2018, approved funding to enhance the UWI’s new Faculty of Sport.