From Presna Latina

Paramaribo, Dec 13 (Prensa Latina) Suriname has officially joined the Caribbean Development Bank (CDB) as a full member, which will give it easier access to subsidized loans to boost development projects, according to local news reports.

The CDB admitted Suriname as full member number 27 during the 259th Meeting of the bank’s board of directors on Thursday.

“Suriname has a sound economy, which is growing rapidly. The government runs a tight fiscal operation; and debt accounts for only about 25 percent of GDP,” CDB President Dr Warren Smith said.

“Since there is no exposure to Suriname, at this time, CDB has a very good opportunity to improve its risk profile by developing a lending relationship with our new member. We can contribute meaningfully to Suriname’s economic and social development whilst also diversifying our loan portfolio,” he said.

The CDB’s purpose is to contribute to the harmonious economic growth and development of its member countries in the Caribbean and to finance projects for economic, social and institutional development in the Caribbean

The full members of the CDB are Anguilla, Antigua and Barbuda, Barbados, Belize, British Virgin Islands, Cayman Islands, Dominica, Granada, Guyana, Haiti, Jamaica, Montserrat, St. Kitts and Nevis, Saint Lucia, Saint Vincent and Grenadines, Suriname, Bahamas, Trinidad and Tobago and Turks and Caicos. Colombia, Mexico and Venezuela, as well as Canada, China, Germany, Italy and the UK have voting rights but are not entitled to borrow funds from the Bank.

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