The Board of Directors is responsible for the general policy and direction of the operations of CDB. The Board takes decisions concerning loans, gurantees and other investments by CDB, borrowing programmes, technical assistance and other operations of the Bank. It also approves the administrative budget of the Bank and submits accounts for each financial year for approval by the Board of Governors. It appoints the Audit and Post-Evaluation Committee, consisting of four of its members, for a term of two years. The Board comprises eighteen directors who repesent the Regional Members of CDB and six who represent the non-Regional members.
Directors hold office for a term of two years and are eligible for selection for a further term or terms of office. Each Director appoints an Alternate Director, who acts on his/her behalf when the Director is not present.