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Apr 8, 2008

C.D.B. holds donor meeting in Belize City

Story PictureThe Caribbean Development Bank is a major player in Belize’s economic development, providing loans and grants for projects ranging from large scale infrastructure to grass roots poverty alleviation. This week meetings will be held in Belize City for C.D.B. member countries and other nations who finance the bank’s Special Development Fund. That fund provides much of the muscle behind Belize’s Social Investment Fund which has helped communities with improvements in water, sanitation and income generation. This afternoon, C.D.B. president Compton Bourne held a press briefing in which he explained the bank’s activities both regionally and in Belize. One pressing issue on the table is what help, if any, the CDB can provide to resuscitate or replace the Development Finance Corporation.

Compton Bourne, President, Caribbean Development Bank
“Well, something that we will certainly talk to them about, I think it’s no secret that the C.D.B. has been unhappy in recent years as other parties have been, other entities have been about the D.F.C. and I.D.B. and ourselves have been paying close attention to the D.F.C. over the last several years because we think that there were problems of asset quality affecting the institution. The suggestion for creating a new entity will be looked at very carefully to see what would be the capital base of such an entity, what are the policy guidelines that they will operate under and what will be the likelihood of success of such an entity. I think that one of the things that we would also want to bring into the picture is the extent to which the private financial institutions might themselves not play a larger role in the financing of development.”

The meeting will begin on Thursday at the Biltmore Plaza.

Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

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