Press Releases

6/22/2022

The Association of the Caribbean States and the Caribbean  Development Bank (CDB) have signed a Memorandum of Understanding (MoU) aimed at promoting and strengthening cooperation activities to implement the mandates of the respective organisations in the areas of Climate Change, Disaster Risk Reduction, promotion of the development of Small-scale and Mid-scale Enterprises, Protection and preservation of the environment, natural resources and the Caribbean Sea, Communications and information collection and, exchange and analysis.

In a ceremony held today at the CDB Headquarters in Bridgetown, Barbados, ACS Secretary-General Rodolfo Sabonge and CDB President Dr. Gene Leon emphasized the commonalities of the development work being undertaken by the two organizations to advance Caribbean resilience. Witnessing the signing ceremony were CDB Vice-President, Mrs. Yvette Lemonias-Seale; Senior Advisor, Dr. Shelton Nicholls; Advisor, Ms Andrea Power; and Deputy General Counsel, Mrs. Nicole Jordan and, from the ACS, Director for Disaster Risk Reduction, Environment and the Caribbean Sea, Ms. Ana Leticia Ramirez Cuevas and Political Advisor Ms. Tricia Barrow .

President Dr. Gene Leon described the ACS – CDB relationship as an "institutional friendship" intended to support the Region to build competitiveness, leverage comparative advantages, and secure social resilience as part of holistic development. SG Sabonge considered the partnership a historic opportunity for practical technical synergies, particularly in addressing climate change, improving air and maritime connectivity and trade. Both parties agreed on the imperative of partnership to survive and prosper.

Earlier this year at the 27th Ordinary Meeting of the Ministerial Council of the ACS, the Caribbean Development Bank (CDB) was admitted as an Observer to the ACS. There CDB President, Dr. Gene Leon noted "this partnership we have forged with the ACS promises to be highly strategic and mutually reinforcing, combining the strengths of each institution to enhance our ability to cooperate regionally and internationally".