Today, the World Bank’s Board of Directors approved a $3.5 million credit to support public sector modernization in Grenada. “Public sector modernization is a critical part of the Government of Grenada’s reconstruction program after Hurricanes Ivan and Emily and its efforts to ensure a more responsive public service in light of the country’s vulnerability to external economic shocks and natural disasters,” said Caroline Anstey, World Bank Country Director for the Caribbean. “This project will benefit the citizens of Grenada by improving the quality of selected public services and enhancing economic opportunities for small and micro businesses.” The Grenada Public Sector Modernization Project will support the process of modernizing Grenada’s public sector, with a focus on improving the efficiency of service delivery and public management, enhancing the collaboration between the public and private sectors in support of strengthening small businesses, and promoting increased collaboration between OECS (Organization of Eastern Caribbean States) members. The project is being funded by the International Development Association (IDA), the Bank’s soft-loan arm, due to the impact on Grenada’s economy of Hurricane Ivan in 2004. The project will support the following activities: Designing and implementing Executive Agencies; Identifying and implementing the joint procurement of goods and services between Grenada and other OECS countries; Strengthening the Public Sector Reform Unit (within the Department of Human Resources) and Project Administration (through the Ministry of Finance and Planning) by providing financial and technical resources and training on key policy areas, including change management and fiduciary requirements. “This project is the result of close collaboration between Grenada and the Bank, and is an important step in the modernization of Grenada’s public sector. Not only will it enable the government to improve the delivery of select public services, but it will also provide support for regional initiatives,” said Lisa Bhansali, World Bank task manager for the project. The SDR 2.5 million ($3.5 million equivalent) technical assistance credit from the International Development Association (IDA) has a grace period of 10 years and 35 years to maturity. Source: Press Release - World Bank