Prime Minister of Grenada and Chairman of the Board of Governors of the Caribbean Development Bank (CDB), Dr. Keith Mitchell has urged the institution to continue playing a role in accelerating the implementation of the development agenda for the Caribbean.
“Together, united, we must forge ahead, locking in the gains we have made as a Region; and, building on those gains, accelerate a development agenda to improve the lives of our Caribbean family”, said Dr. Mitchell, in his address to the Bank’s Staff during an official visit to CDB in Barbados.
“CDB must continue to play the integral role it has been playing in this united and focused approach to advance regional development. We must never back away from this”, he added.
During his address to Staff of the Bank, Dr. Mitchell also called on the Bank to leverage its expertise in and knowledge of the Caribbean to strengthen cooperation with other partners in the international financing community and to scale up the availability of development assistance to the Caribbean.
“The CDB is arguably, in my view, the most critical repository of documentation on infrastructure requirements and social indicators for the Region”, he told staffers.
“With today’s emphasis on results-based management, this information is critical for the design of impactful development initiatives that can help to transform economies and societies,” Dr. Mitchell said.
The Grenadian leader took the opportunity to congratulate the Bank on a number of recent initiatives, including the replenishment of the ninth cycle of the Special Development Fund (Unified); its administration of the United Kingdom Caribbean Infrastructure Partnership Fund; and its recently signed agreement with the European Investment Bank for the Second Climate Action Line of Credit.
While at the Bank, Dr. Mitchell also met with CDB President, Dr. Warren Smith and senior management.
“We thank Dr. Mitchell for visiting the Bank in his capacity as Chairman of the Board of Governors. It is an indication of the respect that he has for our institution and the seriousness with which he takes on this role,” said Dr. Smith.
“We have learnt so many important lessons from Grenada under his leadership. The approach to economic adjustment and fiscal consolidation that he has adopted has enabled a turnaround in Grenada’s economy and its improvements in key social and economic indicators,” he remarked.
In 2014, CDB launched a four-year country strategy for Grenada, including support for a comprehensive programme to achieve fiscal sustainability and restore economic growth.
The programme, supported by other development partners, included strong fiscal measures and reforms to enhance public sector efficiency and facilitate private sector development.
Under the Chairmanship of Prime Minister Mitchell, Grenada will host the 48th Annual Meeting of CDB’s Board of Governors in May 2018.