Caribbean Development Bank commits $140m to help COVID-19 fight

The Caribbean Development Bank has approved a $140 million package to help member countries tackle the fallout of the COVID-19 pandemic and other shocks to their economy. 

The bank also says it has responded to the crisis by increasing the limit on its policy-based loans. These loans are designed to respond to outside shocks and to support economic growth and poverty reduction through policy reforms. 

The bank has warned that at least 1%-2% could be shaved off previous estimates of global growth as a result of COVID-19.