Trinidad and Tobago officially assumed the Chairmanship of the Board of Directors of CAF – Development Bank of Latin America and the Caribbean, during its first board meeting of 2025.
The country’s Minister of Finance, Hon. Vishnu Dhanpaul, will serve a one-year term, presiding over all board meetings. Minister Dhanpaul succeeds Hon. José Manuel Vicente, the Minister of Finance and Economy of the Dominican Republic.
Trinidad and Tobago’s delegation at the meeting was led by Hon. Hassel Bacchus, Minister in the Ministry of Finance. In his remarks, Minister Bacchus expressed pride in the country’s new leadership role, saying, “CAF is a key player in shaping our country’s development and has been, for a long time, our largest multilateral partner. It is an honour to be the first English-speaking Caribbean country to assume the chairmanship of the Board of Directors at CAF, at a time concurrent with the Bank’s effort to incorporate new Caribbean countries as partners and shareholders.”
CAF’s Board of Directors consists of representatives from its 22 shareholder countries, including Ministers of Finance or Economy, Central Bank Governors, senior finance officials, and representatives from regional or private banks. The chairmanship rotates among the shareholder countries, marking Trinidad and Tobago’s historic first time in this leadership position.
Sergio Díaz-Granados, Executive President of CAF, celebrated the milestone, noting, “I am extremely pleased to see Trinidad and Tobago take on this important leadership role. It is a historic milestone that demonstrates our deepening partnership with the Caribbean and our commitment to the integration of our region. Under Trinidad and Tobago’s chairmanship, we look forward to further strengthening our collaboration and reinforcing CAF’s role as a key ally in the region’s sustainable development.”
During the board meeting, CAF also approved USD 1.45 billion in new financing for strategic projects across the region. These projects will range from the construction of aqueducts and port works to improvements in urban mobility, education systems, and business competitiveness. In addition, CAF announced a significant financing package of USD 8.5 billion until 2030 aimed at boosting agricultural prosperity in Latin America and the Caribbean.
As Trinidad and Tobago embarks on its chairmanship, CAF looks forward to collaborating closely with the country to advance the development of the region.
