[www.inewsguyana.com] – Minister of Finance Dr. Ashni Singh visited the headquarters of the Caribbean Development Bank (CDB) in Barbados on Wednesday where he met with senior management and addressed Bank staff in his capacity as chairman of the Board of Governors of the Bank.
Minister Singh will be chairing the CDB’s 44th annual meeting of the Board of Governors on May 28and 29 here, in Guyana.
During his visit, the Minister noted that the institution has distinguished itself in its service to the region and has proven to be a reliable and effective development partner.
“I remain convinced that the CDB is the institution that is best placed to help the region confront and overcome some of its long term challenges,” Minister Singh said.
“The Bank’s considerable local and regional knowledge and its repository of expertise are of significant, if not unparalleled value.”
Dr Warren Smith, President of the CDB also took the opportunity to commend Guyana for its achievements in promoting the mission of the bank specifically through its poverty reduction initiatives and projects.
“We are pleased with the evidence of growth and development in Guyana, through the utilization of loans and grants from the CDB,” Dr. Smith noted.
“We have seen the transformational effect of our projects over the years in the systematic reduction of poverty across the country, including in rural and remote locations.”
“We are looking forward to the Annual Meeting in Guyana, particularly as we focus on renewable energy and addressing climate change concerns in the interest of safeguarding the sustainable development of our Region. Guyana in many ways represents an important example of the effectiveness of the work and mission of the CDB,” Dr. Smith further stated.
The CDB has provided almost US$300M to Guyana since 1970. The Basic Needs Trust Fund is one program of the bank that provides grants which have so far been used to fund community infrastructure and related services in water and sanitation, access roads and drainage, education and human resource development.
Dr. Smith also used the opportunity to update Minister Singh on the progress of the 2015 – 2020 strategic planning process, as well as plans for the annual meeting. The meeting will bring together leaders from the Bank’s 27 member countries to discuss the development needs of the Caribbean and the role of the CDB in addressing these challenges.
During the annual meeting, the CDB will release its annual report which provides an overview of the Bank’s performance as well as insights into sector and economic development among its member countries. The Bank will also host seminars related to Agriculture and Climate Change, Public Private Partnerships in the Caribbean, Transitioning to a Green Economy and Mainstreaming Multidimensional Approach to Poverty Assessment.