You are here

Suriname now a full member of CDB

Published: 
Thursday, December 19, 2013

PARAMARIBO, Suriname—The Caribbean Development Bank (CDB) has admitted Suriname as a full member of the financial body. As a result, Suriname will now have easier access to subsidized loans that will boost development projects. “Suriname has a sound economy, which is growing rapidly. The government runs a tight fiscal operation and debt accounts for only about 25 per cent of GDP,” said president of the CDB Dr Warren Smith during the 259th Meeting of the bank’s board of director.

 

“Since there is no exposure to Suriname, at this time, CDB has a very good opportunity to improve its risk profile by developing a lending relationship with our new member. We can contribute meaningfully to Suriname’s economic and social development whilst also diversifying our loan portfolio,” he said. The CDB’s purpose is to contribute to the economic growth and development of its member countries and to finance projects for economic, social and institutional development in the region. 

 

The full members of the CDB are Anguilla, Antigua and Barbuda, Barbados, Belize, British Virgin Islands, Cayman Islands, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, St Kitts and Nevis, St Lucia, St Vincent and Grenadines, Suriname, The Bahamas, T&T and the Turks and Caicos islands. Colombia, Mexico, Venezuela, Canada, China, Germany, Italy and the UK have voting rights but are not entitled to borrow funds from the Bank. 

 

Disclaimer

User comments posted on this website are the sole views and opinions of the comment writer and are not representative of Guardian Media Limited or its staff. Guardian Media Limited accepts no liability and will not be held accountable for user comments.

Please help us keep out site clean from inappropriate comments by using the flag option.

Guardian Media Limited reserves the right to remove, to edit or to censor any comments. Any content which is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will be removed.

Before posting, please refer to the Community Standards, Terms and conditions and Privacy Policy