The University of the West Indies (The UWI) has received financing from the Caribbean Development Bank (CDB) in an amount equivalent to Eight million Four hundred and ninety-six thousand one hundred United States dollars (US$ 8,496,100) towards the cost of the UWI Digital Transformation Project and intends to apply a portion of the proceeds to eligible payments under this contract. Payment by CDB will be made only at the request of The UWI and upon approval by CDB, and will be subject, in all respects, to the terms and conditions of the Loan Agreement.