The Caribbean Development Bank (CDB) is stepping into a new era of transformation under its newly appointed president, Daniel Best. With a bold vision centered on action, innovation, and real impact, Best has laid out an ambitious roadmap to tackle the Caribbean’s biggest challenges and unlock fresh opportunities for growth.
Speaking at the Bank’s Annual News Conference on March 19, Best made it clear that CDB is ready to shake things up. “We are facing a rapidly changing world—geopolitical tensions, financial shifts, and climate risks. But with these challenges come opportunities. CDB is poised for a rebirth, one that focuses on pioneering solutions to improve lives and drive lasting change in the region,” he stated.
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A Game-Changing Investment for the Caribbean
In a major vote of confidence, CDB’s Contributors have approved an unprecedented US$460 million for the 11th cycle of the Special Development Fund (SDF). Running from 2025 to 2028, this funding will fuel projects aimed at climate resilience, poverty reduction, infrastructure development, and institutional strengthening across the Caribbean.
A Vision for the Future: Innovate, Transform, Thrive
Best’s strategy revolves around three key pillars: Innovate, Transform, Thrive; a fresh approach designed to leverage data, introduce new financial tools, and strengthen regional resilience.
- Innovation through data: CDB will harness cutting-edge analytics to drive smarter investments and evidence-based policymaking.
- Transforming finance: At least three new financial products will launch in 2025, focusing on green energy, private sector de-risking, and sustainable investments.
- Thriving economies: CDB is doubling down on energy and food security, supporting CARICOM’s goal of cutting food imports by 25% by 2027.
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Building a Stronger, Safer, and More Inclusive Caribbean
Beyond economics, Best is determined to improve education, strengthen private sector competitiveness, and foster a more connected Caribbean. The Bank will also champion initiatives aimed at reducing crime, promoting gender equality, and creating safer, more vibrant communities.
Recognizing the Caribbean’s vulnerability to natural disasters, CDB is set to streamline its operations to ensure faster, more efficient funding, particularly for disaster risk management and climate adaptation.
A Call to Action for Regional Growth
“CDB’s mission is clear—we want to see the Caribbean thriving. We are ready to take bold action and work with governments, businesses, and development partners to build a stronger, more resilient future for the region,” Best affirmed.
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Held at the Errol Barrow Centre for the Creative Imagination at UWI Cave Hill in Barbados, the Annual News Conference outlined CDB’s strategic vision, reviewed the region’s economic outlook, and unveiled key priorities for 2025. With strong leadership and a commitment to meaningful change, CDB is positioning itself as a driving force for economic transformation and sustainable growth in the Caribbean.
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