21st May

Published on
CDB and European Investment Bank to Strengthen Cooperation The European Investment Bank (EIB) is to strengthen its operational cooperation with the Caribbean Development Bank (CDB), especially in the area of alleviating poverty in the Caribbean. An EIB delegation headed by President, Mr. Philippe Maystadt, met over the weekend at CDB Headquarters in Barbados with President, Dr. Compton Bourne, and other CDB senior management officials. The other members of the EIB delegation were Mr. Jean-Louis Biancarelli, Director General of Lending Operations outside Europe, and Mr. Anthony Whitehouse, Head of the EIB Regional Office based in Fort-de-France, Martinique. Under consideration are proposals for an expansion of the EIB's financial assistance to CDB. The EIB is to provide Technical Assistance in particular areas such as Financial Risk Management. CDB identified additional areas for joint activities between the two institutions, including Maritime Transport. The purpose of the EIB, the European Union's financing institution, is to contribute towards the integration, balanced development and economic and social cohesion of the Member Countries. Outside the Union, the EIB implements the financial components of agreements concluded under European development aid and cooperation policies. CDB is the Caribbean's premier development financing institution, and was established to contribute to the harmonious economic growth and development of its borrowing member countries.

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