The Saint Lucia Development Bank was re-established by an Act of Parliament Act No. 12 of 2008 in July of that same year as a body corporate with a share capital of twenty million dollars ($20.0 million), divided into four million shares of a par value of five dollars each. The Bank was operationalized with an initial capital contribution from the Government of Saint Lucia of EC$12.0 million dollars and was formally launched on February 22, 2009 to coincide with the island’s 30th Anniversary of Independence. The Bank formally opened its doors for business on February 24, 2009.