CDB Launches Ambitious Reform Program 'CDB Forward'

It is not business as usual for the Caribbean Development Bank (CDB), and president Daniel Best made that clear on Wednesday.

He said that following a year where it approved and disbursed more than US$400 million to borrowing member countries, the Barbadosbased institution would implement “an ambitious but practical reform programme” called ‘CDB Forward’.

He outlined the mission when the bank’s 56th Annual Meeting of the Board of Governors opened in Nassau, The Bahamas, under the theme Forging The Caribbean’s Future: Strategic Solutions For Uncertain Times.

He said that ultimately, ‘CDB Forward’ will position the bank to serve the Caribbean “with greater purpose, credibility and impact in a decade that will demand nothing less”.

It will be anchored on the CDB’s new strategic plan for 2026 to 2035 at a time when Best noted that the world was marked by geopolitical fragmentation, climate volatility, technological disruption, public health risk and shrinking development finance.

Rebirth

Since the 2025 annual meeting in Brazil, the CDB approved and disbursed in excess of US$400 million to advance critical infrastructure, strengthen educational outcomes, support climate change and disaster response, and strengthen the development of the private sector across our region.

The bank also achieved a record US$226.7 million in climate finance commitments while mobilising new resources through the Green Climate Fund.

Best said now was a moment of rebirth for the CDB.

“That is why we have developed an ambitious but practical reform programme called ‘CDB Forward’. This is the vehicle that will allow us to increase our strategic plan’s developmental impact. It is the bridge between vision and execution, and rests on four pillars: an uncompromising culture of excellence, an improved operating model, enhanced governance and accountability, and strengthened financial capacity,” he explained.

“‘CDB Forward’ speaks to how the bank must change, but more importantly, to why that change matters for our citizens. The cultural aspect is about who we are as an institution. For the bank, it means building a stronger sense of purpose, accountability, collaboration and service for the people we serve.

“A stronger culture means a bank that listens better, works more closely with countries and remains deeply committed to improving lives through responsive and valuesdriven development. The operating model is about how we work for the bank.”