Theme of ‘Transformation’ important – CARICOM Chair at 49th Annual Meeting of CDB Board of Governors

https://caricom.org/media-center/communications/news-from-the-community/theme-of-transformation-important-caricom-chair-at-49th-annual-meeting-of-cdb-board-of-governors
Thursday June 6, 2019
(Press Secretary, PM St. Kitts and Nevis) St. Kitts and Nevis’ Prime Minister, Dr. the Hon. Timothy Harris, who holds a seat on the Board of Governors of the Caribbean Development Bank (CDB), is attending its 49th Annual Meeting, which is taking place from 5-6 June 2019, at the Hyatt Regency in Port-of-Spain, Trinidad and Tobago. Financial Secretary for the Government of St. Kitts and Nevis, Mrs. Hilary Hazel, who is the country’s Alternate Governor at the CDB, is also in attendance.

Chairperson of the Board of Governors, the Honourable Camille Robinson-Regis heartily welcomed Prime Minister Harris and his fellow attendees at this morning’s Opening Ceremony. The Honourable Camille Robinson-Regis is Trinidad and Tobago’s Minister of Planning and Development.

The Chairperson described the Annual Meeting of the Board of Governors as a very important event for the Caribbean region and further noted that, “The high-level policy discussions that are expected to take place over the ensuing days, and the decisions emanating therefrom, will undoubtedly serve to strengthen even further our efforts and aspirations towards sustainable development.”

She continued, “This year’s theme Transformation is especially pertinent to the region, as this meeting presents an opportunity for the exchange of ideas, approaches and innovation, and the further opportunity for us to learn from each other whilst we place the region’s development at the forefront.”

On behalf of the people of St. Kitts and Nevis and the CDB’s other Borrowing Member Countries (BMCs), Prime Minister Harris, in turn, responded to the Chairperson’s Welcome Address, giving an overview of developmental challenges and ending with words of optimism for the future, as well as appreciation for the warm hospitality extended to the meeting participants.

“The theme of Transformation, of course, is an important one for all of us, and we are happy that we are focusing on that particular matter at this time,” the Prime Minister of St. Kitts and Nevis said near the outset of his presentation.

Prime Minister Harris later added, “We are happy to be here, and we are happy that we continue to focus on the perennial challenge which has faced our region from time immemorial – the challenge of ensuring development that is inclusive, development that is taking place at a rapid enough rate to ensure that our young and vulnerable populations can feel that they are part of progress and development in the region.”

All of the powers of the CDB are in the hands of the Board of Governors as the highest policy-making body. The Board of Governors, which meets once a year in one of the member countries of the CDB, can delegate its powers to the Board of Directors except on certain matters such as: the admission of new members, amendment of the Charter, election of Directors and the President, and termination of the operations of the CDB.

During the two-day meeting, the Prime Minister of St. Kitts and Nevis, who chairs the Caribbean Community (CARICOM), will be apprised of important operational developments and their implications for the Bank’s day-to-day management. Prime Minister Harris and his colleagues will also discuss ways to further enhance the CDB’s effectiveness and responsiveness to its Borrowing Member Countries.