Canada has replaced St Lucia for the chairmanship of the Board of Governors of the Caribbean Development Bank (CDB) for the year 2023/2024.
Canada’s Minister of International Development Ahmed Hussen replaces St Lucia’s prime minister, Philip J. Pierre, as the new CDB chairman of the Board of Governors. The official launch of Canada’s chairmanship of the Board of Governors took place in Ottawa last week during the recent Canada/CARICOM summit.
In a brief ceremony to mark the occasion, Hussen identified areas of interest that he will be exploring during his tenure, including private-sector investment in development projects for the region.
CDB President Hyginus ‘Gene’ Leon committed to working with the new governor to build on the special relationship between the bank and Canada and deepening the partnership.
The Board of Governors of the CDB, which is based in Barbados, is the highest policymaking body of CDB and meets once a year in one of its member countries.
All of the powers of CDB are in the hands of the Board of Governors, which can delegate its powers to the board of directors, except on certain matters.
These matters include the admission of new members, change in capital stock, election of directors and the president, amendment of the charter, and termination of the operations of CDB.
Two vice chairmen were also elected. They are St Kitts and Nevis Prime Minister and Minister of Finance, National Security, Citizenship and Immigration, Health and Social Security Dr Terrance Michael Drew and Colombia’s Minister of Finance and Public Credit Ricardo Bonilla González.
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