CDB identifies key priorities

CARIBBEAN DEVELOPMENT BANK’S (CDB) Governors recently identified environmental sustainability, gender equality and private sector growth as key priorities for the region.

This took place at the bank’s 47th annual meeting in Providenciales, Turks and Caicos Islands where the officials also challenged CDB to pursue bold and transformative social and economic change that can make a tangible difference to the lives and livelihoods of Caribbean people.

The Governors received an update on critical operational developments that could have implications on CDB’s day-to-day management, and considered strategic shifts that could enhance the Bank’s effectiveness and responsiveness to its borrowing member countries (BMCs).

Governors noted the acute environmental vulnerability of the region and urged CDB to continue to play an important role in helping its BMCs build resilience.

President Dr Warren Smith said CDB’s commitment to this role was evidenced during the meeting, at which an agreement was signed with the European Investment Bank (EIB) for the second Climate Action Line of Credit.

“This will facilitate increased climate proofing of critical infrastructure in the Caribbean. The Line of Credit for Euro 100 million is the largest single loan made by EIB in our Region. We are very encouraged by the strong statement of confidence in CDB that this line represents.”

Smith also noted CDB’s partnership with CCRIF SPC on the Integrated Sovereign Risk Management Project, which aims to enhance the countries’ ability to take account of the full spectrum of risks they face and make adjustments to their risk management strategies.

Governors also highlighted the importance of elevating gender as a core development priority within the context of the Sustainable Development Goal 5. Under the United Nations’ 2030 Sustainable Development Agenda, Governments, including those of the Bank’s member countries, have committed to achieving gender equality and empowering all women and girls. (PR)