PM: CDB needs to reform itself

The Caribbean Development Bank (CDB) needs to reform itself and be more closely attuned to the needs of this country.

This is the view of Prime Minister Dr Ralph Gonsalves which he expressed at the official site opening ceremony of the Fair Hall Primary School last Monday.

Dr Gonsalves accused the CDB of tying up loans in too much bureaucracy stating that the bank needs to remind itself that it is “an institution serving independent states.”{{more}}

With CDB’s representative Yvonne Moses Grant in attendance Dr Gonsalves said that he was unapologetic about his concerns. While saying that he respected the CDB’s staff, he insisted that the bank’s slowness of operation is a hindrance.

Dr Gonsalves reiterated what has become his pet theme: the difference between colonial and post colonial economies. He noted that while the colonial economy depended on large numbers of unskilled and untrained labour, the new economy being built by his government is different.

He said that rapidity of training is a key foundation of what he terms “a new, post colonial economy, which is at once national and regional.”

“We cannot produce a modern post colonial economy unless people are highly trained in all sorts of disciplines,” Dr Gonsalves told the large gathering.

He said that persons steeped with a colonial psyche must not be allowed to hold back the progression towards the fulfillment of the education revolution vision.

When SEARCHLIGHT contacted the CDB we were told that bank did not wish to make any comment in response to Prime Minister Gonsalves.

A reliable CDB source however told SEARCHLIGHT that Dr Gonsalves’ comments were not surprising.

Our source said that many politicians are frustrated about the time that elapses between the approving and disbursing of funds for projects.

“Politicians are elected for five year terms and so they want projects to be speedily done. So when there is a delay it affects them, so one could understand their impatience,” our source said.

SEARCHLIGHT understands that while other regional leaders may not be as strident in voicing their displeasure, their dissatisfaction is well known.

We were told that this concern is being looked into by the leadership of the CDB.