The Board of Directors is responsible for the general policy and direction of the operations of the Caribbean Development Bank. The Board takes decisions concerning loans, guarantees 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 Oversight and Assurance Committee, consisting of five of its members, for a term of two years, with the option to renew for a further two years. The Board comprises 14 Directors who represent the Regional Members of CDB and five 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.