The Board of Governors of the Caribbean Development Bank, representing the 27 member countries of the regional multilateral financial institution, has re-elected?Dr. William Warren Smith to a second five-year term as President.Re-elected: Dr. William Warren SmithThe decision was confirmed on November 6, 2015, with the new term officially beginning on May 1,Cheap Jerseys From China, 2016.A Jamaican national, Smith was the fifth President of CDB, which headquarters is based in Barbados.Guyana has been borrowing significant sums from the bank for various state projects including road construction and even for the sugar industry.According to CDB, Dr. Smith was first elected President on October 29, 2010, assuming office on May 1,Cheap Jerseys, 2011.At that time, many of the bank’s borrowing member countries (BMCs) were dealing with a myriad of highly complex development problems made more acute by the ‘Great Recession’ of 2008.It was evident that recovery would require extraordinary effort informed by new thinking and approaches to Caribbean development,Cheap NFL Jerseys China, CDB pointed out.“Operationally,Cheap Jerseys Supply, some aspects of the bank’s business model required adjustments that would increase CDB’s development effectiveness and responsiveness to the changing needs of its members. Dr. Smith, CDB’s fifth president, committed to making the bank a more creative and reliable partner which would respond effectively to countries need to build resilience against external shocks.”This meant that?CDB’s internal governance had to be strengthened with additional measures introduced to facilitate greater transparency and accountability; portfolio diversification and improving operational efficiency.“Other reforms included: establishing a centralised Office of Risk Management; a new independent Office of Integrity, Compliance and Accountability; and upgrading the Internal Audit, Independent Evaluation,NFL Jerseys China Cheap, Corporate Communications and Information Disclosure functions.”Throughout the period,?CDB said it has actively promoted private sector-led growth?and stability by assisting BMCs to design,Cheap Nike NFL Jerseys, finance and implement robust macro-economic programmes.“The bank has also been encouraging measured debt relief for small island developing Caribbean states which demonstrate willingness to embrace the requisite fiscal and structural reforms.”As a way of equipping countries to confront the ongoing threat of climate change, CDB has sought accreditation to the Green Climate Fund and the Adaptation Fund.“Concerted effort has also been made to identify partnerships and funding for suitable climate resilience projects, especially in the areas of renewable energy, energy efficiency and climate adaptation.??The bank has been encouraging countries to improve competitiveness through energy diversification, which includes accessing indigenous, renewable sources.?Much support has been directed to supporting Eastern Caribbean States’?exploration of their geothermal energy potential.”Looking ahead to the next five years, Dr. Smith maintains that strengthening economic and environmental resilience to safeguard growth, while driving down poverty in Caribbean countries will remain paramount.? He noted that the Caribbean’s development agenda will be informed by the new?sustainable development goals?of the global community.
