Beautiful Virgin Islands

Saturday, Oct 04, 2025

CDB 'pleased to directly engage' VI Gov't & 'strengthen relationship'- CDB President

CDB 'pleased to directly engage' VI Gov't & 'strengthen relationship'- CDB President

Premier and Minister of Finance Dr the Honourable Natalio D. Wheatley (R7) has met with officials of the Caribbean Development Bank (CDB) as the Government of the Virgin Islands (VI) moves to strengthen its relationship with the lending institution.

According to a press release from Government Information Services (GIS) on January 27, 2023, Premier Wheatley, along with other senior officials from the Ministry of Finance, held bilaterial meetings with President Dr Hyginus Leon aka 'Gene' and his Senior Advisor Ms Andrea Power earlier in the week to discuss the areas in which the Virgin Islands can benefit from the bank’s current trajectory, as well as its future objectives.

The discussions were also aimed at enhancing the Virgin Islands’ strategic position and the potential economic development that can be harnessed through the bank’s offering of technical and financial support.

VI is a shareholder of CDB

Premier Wheatley said, “I was happy to host the President of the Caribbean Development Bank (CDB) Dr Leon, and to have the opportunity to acknowledge the invaluable support given to the Virgin Islands; not just in financing hurricane recovery projects, but with technical assistance in procurement policy, training, and other areas of development.”

The Premier added, “We are a proud member of the bank, and are excited by further sustained engagement in meeting our ambitious development goals which include the establishment of world-class infrastructure, supporting a food security ecosystem, creating climate and economic resilience, and investing in innovation and development.”

During the bilateral engagements, Dr Leon shared the bank’s vision and reiterated its commitment to partnering with its Borrowing Member Countries, which is inclusive of the Virgin Islands. The Virgin Islands is one of the bank’s shareholders, and has continuously received financial and technical support in the development of its infrastructure.


The Caribbean Development Bank officials also made courtesy calls on the Premier, the Cabinet of the Virgin Islands, and officials from the Recovery and Development Agency (RDA).

New pathways & opportunities created- CDB President

Dr Leon said, “The Caribbean Development Bank is pleased to directly engage the Government of the VI and strengthen our longstanding relationship. Our interactions and dialogue during this visit have created new pathways and opportunities for the Bank, and the VI to further reinforce the solid foundation both have enjoyed.”

Dr Leon added that the CDB’s timely response to support redevelopment of the Territory subsequent to the 2017 hurricanes, through the issuance of loan and grant facilities to supplement the required funding gap, is evidence of the bank’s commitment to bolster Borrowing Member Countries.

Dr Leon assumed the office of President of the Caribbean Development Bank (CDB), in May of 2021, thereby becoming the sixth chief executive of the regional multilateral institution.

The bank officials also made courtesy calls on the Premier, the Cabinet of the Virgin Islands, and officials from the Recovery and Development Agency (RDA).

The Ministry of Finance is committed to its mandate which involves coordinating sustainable national development, enhancing financial and economic resources, and strengthening bilateral relationships with its partners.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Ringo Starr Champions Enduring Beatles Legacy While Debuting Las Vegas Art Show
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
FBI Removes Agents Who Kneeled at 2020 Protest, Citing Breach of Professional Conduct
Trump Alleges ‘Triple Sabotage’ at United Nations After Escalator and Teleprompter Failures
Shock in France: 5 Years in Prison for Former President Nicolas Sarkozy
Tokyo’s Jimbōchō Named World’s Coolest Neighbourhood for 2025
European Officials Fear Trump May Shift Blame for Ukraine War onto EU
BNP Paribas Abandons Ban on 'Controversial Weapons' Financing Amid Europe’s Defence Push
Typhoon Ragasa Leaves Trail of Destruction Across East Asia Before Making Landfall in China
The Personality Rights Challenge in India’s AI Era
Big Banks Rebuild in Hong Kong as Deal Volume Surges
Italy Considers Freezing Retirement Age at 67 to Avert Scheduled Hike
Italian City to Impose Tax on Visiting Dogs Starting in 2026
Arnault Denounces Proposed Wealth Tax as Threat to French Economy
Study Finds No Safe Level of Alcohol for Dementia Risk
Denmark Investigates Drone Incursion, Does Not Rule Out Russian Involvement
Lilly CEO Warns UK Is ‘Worst Country in Europe’ for Drug Prices, Pulls Back Investment
Nigel Farage Emerges as Central Force in British Politics with Reform UK Surge
Disney Reinstates ‘Jimmy Kimmel Live!’ after Six-Day Suspension over Charlie Kirk Comments
U.S. Prosecutors Move to Break Up Google’s Advertising Monopoly
Nvidia Pledges Up to $100 Billion Investment in OpenAI to Power Massive AI Data Center Build-Out
U.S. Signals ‘Large and Forceful’ Support for Argentina Amid Market Turmoil
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
Vietnam Faces Up to $25 Billion Export Loss as U.S. Tariffs Bite
Europe Signals Stronger Support for Taiwan at Major Taipei Defence Show
Indonesia Court Upholds Military Law Amid Concerns Over Expanded Civilian Role
Larry Ellison, Michael Dell and Rupert Murdoch Join Trump-Backed Bid to Take Over TikTok
Trump and Musk Reunite Publicly for First Time Since Fallout at Kirk Memorial
Vietnam Closes 86 Million Untouched Bank Accounts Over Biometric ID Rules
×