It is not business as usual for the Caribbean Development Bank (CDB), and president Daniel Best made that clear on Wednesday.
He said that following a year where it approved and disbursed more than US$400 million to borrowing member countries, the Barbadosbased institution would implement “an ambitious but practical reform programme” called ‘CDB Forward’.
He outlined the mission when the bank’s 56th Annual Meeting of the Board of Governors opened in Nassau, The Bahamas, under the theme Forging The Caribbean’s Future: Strategic Solutions For Uncertain Times.
He said that ultimately, ‘CDB Forward’ will position the bank to serve the Caribbean “with greater purpose, credibility and impact in a decade that will demand nothing less”.
It will be anchored on the CDB’s new strategic plan for 2026 to 2035 at a time when Best noted that the world was marked by geopolitical fragmentation, climate volatility, technological disruption, public health risk and shrinking development finance.
Rebirth
Since the 2025 annual meeting in Brazil, the CDB approved and disbursed in excess of US$400 million to advance critical infrastructure, strengthen educational outcomes, support climate change and disaster response, and strengthen the development of the private sector across our region.
The bank also achieved a record US$226.7 million in climate finance commitments while mobilising new resources through the Green Climate Fund.
Best said now was a moment of rebirth for the CDB.
“That is why we have developed an ambitious but practical reform programme called ‘CDB Forward’. This is the vehicle that will allow us to increase our strategic plan’s developmental impact. It is the bridge between vision and execution, and rests on four pillars: an uncompromising culture of excellence, an improved operating model, enhanced governance and accountability, and strengthened financial capacity,” he explained.
“‘CDB Forward’ speaks to how the bank must change, but more importantly, to why that change matters for our citizens. The cultural aspect is about who we are as an institution. For the bank, it means building a stronger sense of purpose, accountability, collaboration and service for the people we serve.
“A stronger culture means a bank that listens better, works more closely with countries and remains deeply committed to improving lives through responsive and valuesdriven development. The operating model is about how we work for the bank.”
The president said it also meant “becoming more agile, efficient, and effective” in the way they design, finance and implement their operations.
Stronger oversight
“It is about reducing delays, strengthening delivery and making sure that our system supports results for you, our clients. This means development support that reaches you faster, projects that are better prepared and better executed, and solutions that are more closely matched to their needs,” he stated.
“Governance and accountability are about trust. For the bank, this means clearer roles, stronger oversight and better decision-making. For you, it means confidence that the institution is acting with integrity, stewarding resources wisely and remaining focused on outcomes that matter.
“Financial capacity is about strength and possibility for the bank. It means ensuring that we have the resources, tools and financial resilience to respond at the scale this moment demands for the people we serve. It means greater access to financing, stronger support for resilience and growth, and a bank that can do more to help countries confront climate risks, debt pressures and developmental challenges.”
Best added: “We must move from commitment to execution, because uncertainty demands strategic solutions. This meeting is intentionally designed not just for dialogue, but for results, building partnerships and advancing implementations.”
(SC)
The post CDB charting a new path appeared first on nationnews.com.
