CDB and World Bank Agree to the Closer Collaboration on Caribbean Development

February 8, 2023 – BRIDGETOWN, Barbados: The Caribbean Development Bank (CDB) and the World Bank charted a path for closer collaboration to drive the Caribbean’s development agenda during a joint working session held on February 2 and 3 in Kingston, Jamaica.

Multi-sectoral teams from the institutions examined avenues for deeper cooperation to enhance development outcomes for Caribbean countries.  The areas reviewed included Sustainable Development, Infrastructure, Energy, Human Development, Private Sector Engagement, and Regional Cooperation. The discussions covered areas of current focus, active projects and initiatives, as well as lessons learned, and best practices.

The two-day session concluded with agreements on next steps to adequately meet the development needs of Caribbean countries.  Identified areas of emphasis include tourism, renewable energy, digitization, capacity building and education.

“Having solidified links between the CDB and World Bank teams, I’m sure of our mutual commitment to roll our sleeves up and continue working toward the best outcomes possible for the people of the Caribbean. Desired economic and social advancements are most effectively accomplished through the power of partnerships”, said Ms. Lilia Burunciuc, World Bank’s Country Director for the Caribbean.

Mr. Isaac Solomon, CDB Vice President, Operations said “The Caribbean’s needs are extensive and the key to covering more ground is collaboration and cooperation between institutions that are facilitating the region’s sustainable development agenda. We will see better results from alignment and having had the discussions we will now take action to move on from here.”

CDB and the World Bank have enjoyed a longstanding partnership with their most recent collaborations centred on bolstering public procurement in the Caribbean. Joint initiatives have included the establishment of a procurement training centre, the conducting of joint procurement assessments and a coordinated and on-going procurement reform program across CDB’s Borrowing Member Countries in the Organisation of Eastern Caribbean States.

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