Quality Enhancement in Public Education
After a Canada/Commonwealth Caribbean Conference in 1966, a recommendation was made that a study be conducted to investigate the possibility of establishing a financial institution to serve the Commonwealth Caribbean countries and territories. The report, submitted by a team of experts in July 1967, recommended the establishment of a Caribbean Development Bank with an initial capital of $50 million. This report was considered and accepted at a meeting of officials in Georgetown, Guyana in August of the same year and a committee formed to prepare the draft agreement and finalise the details for the Bank’ establishment. This draft Agreement was submitted in 1968 and adopted after meetings held at the ministerial level. A preparatory committee for the Bank’s establishment was set up and a project director appointed. Assistance was received from the International Bank for Reconstruction and Development (later called the World Bank), the Inter-American Development Bank and the United Nations Development Programme.