Much work needed to repair CDB, restore its focus – Ashni Singh

– as new President appointed

The Caribbean Development Bank (CDB) has appointed a new President in the person of Barbadian native Daniel Best, and calls have now been made for the regional financial institution to refocus its efforts on its mandate.
In a statement issued on Wednesday, the CDB Board of Governors said the appointment of Best as the seventh President of the institution underscores the Bank’s commitment to visionary leadership and sustainable development across the Caribbean region.

Guyana’s Finance Minister Dr Ashni Singh has extended congratulatory greetings to the new CDB President in a post on his Facebook page.
According to Minister Singh, Best has had a long and successful career in the CDB, and Best knows very well the Caribbean and its development circumstances and needs.
“Much work is needed to repair the Bank now and restore its focus on the important mandate enshrined in its Charter. Daniel is well equipped to lead this work at this critical juncture,” Dr Singh has said.
The Guyanese Minister added that Guyana looks forward to working closely with the new CDB President to not just tackle the pressing needs of the region, but also work together to improve the lives of all of the people of the Caribbean.
A missive from the Barbados -based CDB states that Best brings to the post a wealth of experience and a deep understanding of the region’s developmental challenges and opportunities. With a distinguished career spanning over 20 years in development finance, policy planning, and infrastructure investment, Best is well-positioned to lead the CDB into its next chapter of impactful regional transformation.
As President, Best would oversee the Bank’s strategic direction, focusing on its core mandate to reduce poverty and inequality while fostering inclusive and sustainable growth. Under his leadership, the Bank aims to build on its legacy while addressing emerging challenges and opportunities in a rapidly changing global landscape.
With nearly three decades of experience in infrastructure development, development finance, project management, and strategic leadership, Best’s career spans both the public and private sectors across the Caribbean, and he has made significant contributions to advancing sustainable development in the region.
Best has worked with the CDB for over 15 years, holding progressively senior positions, including Director of the Projects Department. In this role, he managed the Bank’s investment lending and grant portfolios, and played a key role in fostering strategic partnerships with global and regional institutions.
At the time of his appointment to the presidency on Wednesday, the Barbadian national was serving as Senior Infrastructure and Development Advisor to the Prime Minister of Barbados, on secondment from CDB.
Best holds a Master of Business Administration from the University of Durham in England, as well as a Master’s degree in Construction Engineering and Management, and a Bachelor’s degree in Civil Engineering from the University of the West Indies, St. Augustine, Trinidad. He is also an accredited Project Management Professional.
Best’s appointment follows the controversial exist of his predecessor Dr Hyginus ‘Gene’ Leon. In January of this year, it was disclosed that Leon had been sent on administrative leave until April as “an ongoing administrative process” continued at the region’s premier financial institution.
Dr Leon subsequently resigned with immediate effect, and said, through his lawyers, that he “will never be treated fairly” after being sent on administrative leave in January. The lawyers had given the regional financial institution until May 4 “to negotiate an amicable separation.”
Then in July, the CDB confirmed the closure of an “internal administrative process” involving Dr Leon and confirmed that he “has ceased to hold the office of the President of the Bank”.