Brazil joins the Caribbean Development Bank

HALIFAX, Canada, May 30, 2008 – Brazil has become the newest member of the Caribbean Development Bank (CDB).

Approval of Brazil’s application for membership was among the decisions taken at the 38th Annual Meeting of the Bank’s Board of Governors, bringing the total number of CDB member countries to 27. Brazil is also the fourth Latin American member country of the Bank, joining Colombia, Mexico and Venezuela.
The United Kingdom’s Minister for International Development Shahid Malik was also elected Chairman of the Bank’s Board of Governors for the coming year. He will serve up to and during the next annual meeting which is to be hosted by the UK in the Turks and Caicos Islands, a British overseas territory. 

Barbados and Venezuela have been elected vice-chairs to serve for the same period.

During the two-day meeting which ended on Thursday, the CDB Governors discussed a number of key issues of topical interest to the region, including the effects of climate change and the impact of rising food and energy prices on Caribbean economies.