The Barbados-headquartered Caribbean Development Bank (CDB) has announced plans to construct a new US$36 million office complex here, as it seeks to upgrade its current Wildey, St Michael base.
The project, approved by the bank’s board of directors in December 2017, will provide adequate accommodations for the CDB’s current and projected staff complement, and integrate environmental sustainability considerations.
“With more than 200 employees and a building that is almost four decades old, it has become essential to construct new office accommodations that will effectively and efficiently support the Bank’s business and
staff requirements,” said Phillip Brown, the CDB’s director of human resources and administration.
In a release today, the bank also said the new office building was scheduled for completion in 2020 and would efficiently use energy, water and other resources; focus on protecting staff health and improving employee productivity; and prioritize the reduction of waste, pollution and environmental degradation.
“Building on the existing photovoltaic installation already in operation on CDB’s campus, the new building will provide opportunities to further integrate this renewable energy feature.
“In addition, CDB will pursue a Leadership in Energy and Environmental Design (LEED) certification for the new building, which could be among the first in the bank’s borrowing member countries to achieve the globally recognized green-building rating,” the press statement added.
In 1970, Government signed an agreement with the CDB establishing Barbados as the bank’s headquarters seat.
Since then, the regional lending institution has provided more than US$480 million in funding to support economic and social development on the island.