The CDB's two-day meeting has been overshadowed by the controversial resignation of its president Dr. Gene Leon.
A two-day meeting of the board of governors of the Barbados-based Caribbean Development Bank (CDB) has been overshadowed by the controversial resignation of its president Dr. Gene Leon, and a warning that the bank is at a crossroads.
In his address to the opening ceremony, the temporary alternate governor for Italy, Simone Alberto Platania, speaking on behalf of CDB's non-regional members, said the highest standards for integrity, ethics, and transparency must be maintained by the multilateral entity.
Speaking against the backdrop of the probe into Dr. Leon, the Italian government representative said that lessons have been learned in its aftermath, resulting in a review of arrangements for strong governance and improvements in procedures and processes.
He has called for the board of governors to maintain confidence in strong governance, which underpins the credit rating of the bank and its ability to provide concessional support to its Caribbean members.
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