CDB President bids farewell to member countries, staff

(Caribbean Development Bank Press Release) Completing his decade-long tenure at the helm of the Caribbean Development Bank (CDB), President Dr. Wm Warren Smith said farewell to member countries and staff at a special Board of Directors meeting, followed by a staff function.

During President Smith’s period in office, running from May 1, 2011 to April 30, 2021, he oversaw the response to two global crises that heavily impacted the Caribbean Region – the aftermath of the 2008 global financial crisis at the beginning of his first term and the Covid-19 pandemic at the end of his second. In between, CDB tackled a series of increasingly devastating storms associated with climate change which hit Borrowing Member Countries (BMCs).

Under the guiding principles of increasing resilience and building back better, which got traction especially after the destructive 2017 hurricane season, President Smith effectuated reforms to better serve the Region and strengthen the Bank’s operations.

“CDB worked alongside its Borrowing Member Countries as they tackled more than a decade of crises and sought to build their resilience to shocks. Throughout my tenure, the Bank solidified existing partnerships and formed new ones to secure concessional resources for BMCs,” said Smith.

He added, “Larger development institutions are now channelling increased levels of resources through CDB, giving donors and beneficiaries better value for money.”

With three replenishments of the Special Development Fund during President Smith’s tenure, the Bank mobilised more than US$900 million to promote inclusive and sustainable growth in eligible BMCs.

Read more at: Caribbean Development Bank

Source: CARICOM TODAY