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The CDB is a regional financial development institution established by an Agreement signed on October 18, 1969 by eighteen countries and territories, including all the then CARIFTA Member States, Belize (then British Honduras) and The Bahamas. The Agreement entered into force on January 26, 1970.
The purpose of the Caribbean Development Bank is 'to contribute to the harmonious economic growth and development of the member countries in the Caribbean and to promote economic cooperation among them, having special and urgent regard for the needs of the less developed members of the region.'
CDB finances specific projects in national, sub-regional, or regional development programmes in such fields as agriculture, livestock, fisheries, forestry, marketing, manufacturing, mining, refining, tourism, export services, transportation, housing, education, pure water, sewerage and infrastructure and services related to the development of those sectors of the economy, waste management, environment protection and poverty reduction.
Membership of the CDB is open to States and Territories of the Caribbean Region as well as non-regional States which are members of the UN or any of its specialised agencies.
The Bank has 25 Members as follows:
17 Regional Borrowing Members, namely: Anguilla, Antigua and Barbuda, The Bahamas, Barbados, Belize, British Virgin Islands, Cayman Islands, Dominica, Grenada, Guyana, Jamaica, Montserrat, St. Kitts and Nevis, Saint Lucia, St Vincent and the Grenadines, Trinidad and Tobago, and Turks and Caicos Islands;
3 Regional Non-Borrowing Members, namely: Colombia, Mexico and Venezuela; and
5 non-Regional, non-borrowing members, namely: Canada, China, Germany, Italy and the United Kingdom.
France was also a non-regional non-borrowing member of the CDB until its withdrawal in 2000. The Bank has its headquarters in Barbados, and is headed by a President.
Presidents of the CDB:
Sir Arthur Lewis (Saint Lucia), 1970 -1973;
Mr William Demas (Trinidad & Tobago), 1974 -1987;
Sir Neville Nicholls (Barbados), 1988 - 2001;
Dr Compton Bourne (Guyana) 2001 - present.
Contact data:
Caribbean Development Bank
P.O. Box 408,
Wildey
St. Michael Barbados
Tel. No. (246) 431-1600
Fax No. (246) 426-7269
Email: info@caribank.org
URL : www.caribank.org
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