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Caribbean Development Bank Kyrh James

The Caribbean Development Bank (CDB), headquartered in Barbados, was established in 1969 to promote development and cooperation among Caribbean countries, particularly focusing on less developed nations. It has a governance structure that includes a Board of Governors and a Board of Directors, with members from both regional and non-regional countries. The President, elected for a five-year term, oversees the bank's operations and is supported by vice-presidents and departmental directors.

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39 views2 pages

Caribbean Development Bank Kyrh James

The Caribbean Development Bank (CDB), headquartered in Barbados, was established in 1969 to promote development and cooperation among Caribbean countries, particularly focusing on less developed nations. It has a governance structure that includes a Board of Governors and a Board of Directors, with members from both regional and non-regional countries. The President, elected for a five-year term, oversees the bank's operations and is supported by vice-presidents and departmental directors.

Uploaded by

Yashema Martluck
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Caribbean Development Bank

COB’s Headquarters is located at Wildey , St. Michel , Barbados .

The Caribbean Development Bank (CDB) is a regional financial institution, established by an agreement

singed in Kingston , Jamaica on 18th October, 1969 for the purpose of contributing the harmonious

development and growth of the member countries in the Caribbean and promoting cooperation and

integration among them, having special and urgent regard to the needs of the less developed member

countries of the Region (LDs),,.

CDB,s original membership included 16 English- speaking Caribbean countries as regional members and

Canada and the united kingdom as nonregional members Venezuela (1974) and Mexico and Anguilla

( both 1982) subsequently joined as regional members. France joined in May 1984 as a non regional

member.

The Power of the Board of Governors, except those specially reserved to it under cheater, have been

delegated to a Board of Directors which is responsible for the conduct of CDB’s operations. The Board

of Directors takes decisions on loans , guarantees and other investments, borrowing, technical

assistance, administrative budget, and submits accounts pertaining to each financial year for approval of

the Board of Governors. The Board of Director comprises 13 members, 10 representing regional

members and three representing non- regional members. Each Director appoints and Alternate who

acts for him in his absence. Directors are appointed for two-years terms of office and are eligible for

reappointment.
CDB’S highest policy – making body id the body is the Board of governors on which each member

country is represented. The Board of governors meets once a year when CDB’s operations are reviewed

and major policy decisions taken. Special meetings are held a necessary.

The President of CDB’S, who is elected by the governors of Board for a five -year term, is the chairman of

the board of Directors. He is responsible for the organization and operation of CDB. Including the

appointment of staff and investigation of loan proposals.

The Vice- Presidents exercises the authority and performs the function of the president in the absence or

incapacity pf the president or while that office is vacant. The President is advised by five Directors of

Departments .

 For the purpose of membership on the board of governors, Anguilla, British virgin Islands,

Cayman islands, Montserrat and Turks and calicos island are considered as single members.

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