BRIDGETOWN, Barbados, CMC – Guyana has praised the Barbados-based Caribbean Development Bank (CDB) as an institution that has distinguished itself in its service to the region and has proven to be a reliable and effective development partner.

Guyana’s Finance Minister Dr. Ashni Singh held talks Wednesday (7) with CDB president Dr. Warren Smith as Georgetown gets ready to host the annual meeting of the Bank’s Board of Governors later this month.

“I remain convinced that the CDB is the institution that is the best placed to help the region confront and overcome some of its long term challenges. The Bank’s considerable local and regional knowledge and its repository of expertise are of significant, if not unparalleled value,” said Singh, the board’s chairman.

During his discussions with the CDB president, the Finance Minister was updated on the progress of the 2015 – 2020 strategic planning process, as well as plans for the 44th meeting of the Board of Governors on May 28 and 29.

“We are looking forward to the annual meeting in Guyana, particularly as we focus on renewable energy and addressing climate change concerns in the interest of safeguarding the sustainable development of our region. Guyana in many ways represents an important example of the effectiveness of the work and mission of the CDB,” Smith said.

The CDB has provided almost US$300 million to Guyana, a founding member of the bank, since 1970. Through the Basic Needs Trust Fund (BNTF) grants have also been allocated to community infrastructure and related services in water and sanitation, access roads and drainage, education and human resource development.

“We are pleased with the evidence of growth and development in Guyana, through the utilization of loans and grants from the CDB. We have seen the transformational effect of our projects over the years in the systematic reduction of poverty across the country, including in rural and remote locations,” the CDB president said.

The board of governors meeting will be attended by officials from its 27 member countries and will discuss the development needs of the Caribbean and the role of the CDB in addressing these challenges.

During the meeting, the CDB will release its annual report which provides an overview of the Bank’s performance as well as insights into sector and economic development among its member countries.

The CDB will also host seminars related to agriculture and climate change, public-private partnerships in the Caribbean, transitioning to a green economy and mainstreaming multidimensional approach to poverty assessment.

The meeting will be preceded by the 2014 VYBZING Youth Forum from May 21-23, under the theme” ‘Youth Voices for Climate Change’.

The executive director of the Green Climate Fund (GCF), Héla Cheikhrouhou, will be the keynote speaker of the 15th William G. Demas Memorial Lecture on May 27.

IMAGE: CDB PRESIDENT DR. WARREN SMITH (LEFT) AND GUYANA’S FINANCE MINISTER DR. ASHNI SINGH (RIGHT)

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