26th May

Published on

Way Clear for Haiti's Membership in CDBHaiti will be entering into a constituency sharing arrangement with Trinidad and Tobago on the Board of Directors of the Caribbean Development Bank (CDB). An announcement to this effect was made by the Governor for Trinidad and Tobago, Hon. Camille Robinson-Regis, during the recently-concluded Annual Meeting of the Board of Governors of CDB. This development clears the way for Haiti's accession to membership in the Bank.CDB President, Dr. Compton Bourne, in welcoming the news, added that "now that elections have been held and the security situation has improved, we expect that a way has been paved to commence some operational work in Haiti."The 36th Annual Meeting was held at the Ritz-Carlton Golf Resort and Spa in Montego Bay, Jamaica, on May 17 and 18, 2006. During the Opening Ceremony, Chairman Dr. the Honourable Omar Davies, gave the Welcome Address while the Main Address was given by Jamaica's Prime Minister, the Honourable Portia Simpson Miller. It was her first speech to a major regional audience since being appointed Prime Minister. Mrs. Simpson Miller said that it is evident that "given the pressing need to continue to restructure and transform regional economies in the post "Trade Preference Era", the CDB must play an even greater role. This role must consist of a menu which includes financial resources, technical assistance, policy advice, rooted in reducing and ultimately eliminating poverty in the Region." In his Annual Statement to the Governors, the CDB President spoke on the theme Opportunities for Caribbean Economic Growth. He said that despite the economic obstacles facing the Region, the economic growth pessimism which one hears is unwarranted, adding that sustained economic growth is not unachievable. Dr. Bourne views the young people of the Region as an important element in achieving a bright economic future. He said that "the region's youth is a tremendous resource not yet fully activated in the identification of socio-economic goals and in the formulation of strategic objectives for their countries and region. Bringing them on to the centre stage of development policy would not only infuse our efforts with energy and new ideas but would also arrest the drift towards disaffection and nihilism among young people." Governors participated in a discussion on expanding the membership of CDB and in a seminar on monetary cooperation in the Caribbean which was held in conjunction with the CARICOM Secretariat. The Governor for Venezuela was elected Chairman of the Board of Governors to serve up to the end of the next Annual Meeting, which is to be held in Venezuela.

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