May 4, 2009 No. 5/09 - G CDB TO HOST IFI BUDGET WORKSHOP The Caribbean Development Bank (CDB) will host the annual International Financial Institutions (IFI) Budget Workshop on May 5-7, 2009, at the Barbados Hilton. The purpose of this workshop is to set the stage for realignment to new practices and procedures in the budgeting process to meet the demands of stakeholders. Vice-President (Finance), Mr. Neville Grainger, will give the welcome address at the opening of the workshop on Wednesday (May 6) morning. These workshops provide a forum for sharing of experiences and practices among IFIs relating to budgeting and budget management practices. This week's workshop will be attended by representatives of IFIs from Europe, Asia, Africa and the Middle East, including the World Bank (WB), Inter-American Development Bank (IADB), International Fund for Agricultural Development (IFAD), International Monetary Fund (IMF), European Investment Bank (EIB), Asian Development Bank (AsDB), African Development Bank (AfDB), Islamic Development Bank, Black Sea Trade and Development Bank, International Development Law Organisation, Council of Europe Development Bank, Nordic Investment Bank and the Organisation for Economic Co-operation and Development (OECD). Over the years, issues examined by the working group include: reform strategy and performance management; budgeting for changing business directions; zero real growth budgeting; multi-year strategic resource frameworks; and benchmarking and data comparability.