Latest update November 26th, 2024 1:00 AM
Dr. Denzil Douglas is new CDB Chairman
The Prime Minister of St. Kitts and Nevis, Dr. Denzil Douglas who also serves as the Minister of Finance of his country was appointed the new Chairman of the Caribbean Development Bank (CDB) yesterday at the closing ceremony of the 44th Annual Board of Governors Meeting. It was held at the Guyana International Conference Centre.
Dr. Denzil Douglas
As he extended heartfelt appreciation to the outgoing Chairman, Guyana’s Minister of Finance, Dr. Ashni Singh, Dr. Douglas said that as the stakeholders of the CDB embrace the fact that change is inevitable, it is important for the Bank to act as a catalyst to help the Caribbean Region in the adaptation process.
While the Prime Minister confessed that the successful recovery of his country’s economy is due to the innovativeness and unyielding support of the Bank, he said that based on the confidence expressed by members to elect him to such an important position, he will strive towards ensuring that the Bank’s objectives are achieved and its agenda for change realized.
“Going forward, the Bank will need to accelerate the pace of disbursements in respect of projects that were already approved by the Board of Directors some years ago. The disbursement rate is critical to the bottom line of the Bank and can make a real difference in the growth prospects of borrowing member states. The Bank has to be more focused on maintaining relevance to its constituents, improve on efficiency and responsiveness.”
“Further, the Bank should seize the present and emerging opportunities to expand the use of the Policy Based Loan and guarantee instruments to implement new products tailored to the needs of the clientele it serves…The Bank must enhance its systems to ensure full integration of the wealth of information generated by its reports.”
Dr. Douglas then lauded Dr. Singh for his valuable contributions when he served as Chairman and promised to uphold if not exceed the standard set by the distinguished Minister. The next Board of Governors Meeting will be held in St. Kitts and Nevis in 2015.
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