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IDB Grants Suriname $40 Million Loan to Strengthen Financial Sector

By: Caribbean Journal Staff - December 10, 2011

Above: Paramaribo (UNESCO Photo)

By the Caribbean Journal staff

The Inter-American Development Bank has approved a $40 million loan that supports the government of Suriname’s financial sector reform programme.

“Suriname has enjoyed robust and macro-economically balanced growth for the past five years,” said Frank Nieder, IDB team leader. “The programme should accelerate the development of [the] financial market in a sustainable manner and will reduce their vulnerability to macroeconomic shocks.”

The operation aims to stabilize public and private financial markets and to strengthen the Central Bank of Suriname.

The financing is part of a series of three policy-based loans totaling $70 million. The loan is for a 20-year term.

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