The Caribbean Development Bank (CDB) was established for the purpose of contributing to the harmonious economic growth and development of the member countries in the Caribbean and promoting economic cooperation and integration among them, having special and urgent regard to the needs of the less developed members of the region.
CDB intends to be the leading catalyst for development resources into the Region, working in an efficient, responsive and collaborative manner with our BMCs and other development partners towards the systematic reduction of poverty in their countries through social and economic development.
The permanent Headquarters of CDB is located at Wildey, St. Michael, Barbados.
In brief, the functions of CDB are:
- to assist its borrowing member countries to optimise the use of their resources, develop their economies, and expand production and trade;
- to promote private and public investment;
- to mobilise financial resources from both within and outside the region for development;
- to provide technical assistance to its regional borrowing members;
- to support regional and local financial institutions and a regional market for credit and savings; and
- to support and stimulate the development of capital markets in the region.
Members of CDB are either:
- states and territories of the Caribbean region or
- non-regional states, which are members of the United Nations or any of its specialised agencies or of the International Atomic Energy Agency.
The membership of CDB is now twenty-six—twenty-one Regional and five non-Regional Members. Member Countries of CDB are Anguilla, Antigua and Barbuda, The Bahamas, Barbados, Belize, British Virgin Islands, Canada, China, Colombia, Cayman Islands, Dominica, Germany, Grenada, Guyana, Haiti, Italy, Jamaica, Mexico, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Trinidad and Tobago, Turks and Caicos Islands, United Kingdom and Venezuela.
Where is Caribbean Development Bank (CDB)