Caribbean Development Bank

Caribbean Development Bank

The Caribbean Development Bank (CDB) is a regional financial institution which was established in October 1969, and began operations in January 1970. Its headquarters are located at Wildey, St. Michael, Barbados.

Regional members are Anguilla, Antigua and Barbuda, The Bahamas, Barbados, Belize, the British Virgin Islands, the Cayman Islands, Colombia, Dominica, Grenada, Haiti, Jamaica, Mexico, Montserrat, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Trinidad and Tobago, the Turks and Caicos Islands and Venezuela. Non-regional members are Canada, China, Germany, Italy and the United Kingdom. An application for membership by Brazil was approved at the Bank’s 2008 Annual Meeting.

CDB’s authorised share capital is US$705.0 million, of which US$549.3 million is callable capital and US$155.7 million is paid-up capital. CDB is committed 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 countries of the Region.

The Bank has a wide sectoral portfolio, comprising transport, communication and sea defence; manufacturing and mining; social services; agriculture, forestry and fishing; power, energy, water; tourism; multi-sector and other. Part of this financing is delivered through national financial intermediaries in the borrowing member countries, an arrangement which helps in the development of the critical financial sector.

CDB has been rated Aaa/AAA by the international rating agencies Moody’s Investors’ Service and Standard and Poor’s.