On June 5th, Belize officially assumed the Chairmanship of the Caribbean Development Bank (CDB) Board of Governors and secured $20.2 million in climate resilience funding. The handover took place during the closing ceremony of the 56th Annual Meeting of the Board of Governors in Nassau, Bahamas. Dr. Osmond Martinez, Minister of State for Economic Transformation and Belize’s Alternate Governor to the CDB, accepted the Chairmanship on behalf of Prime Minister John Briceño.
The dual achievement came after Belize’s delegation highlighted the country’s economic performance and commitment to climate action during the annual meeting. The $20.2 million in climate funding will support upgrades to radar and forecasting infrastructure, the development of impact-based forecasting systems, and the strengthening of institutional capacity for disaster risk reduction. These initiatives are expected to improve Belize’s ability to withstand hurricanes, floods, and coastal erosion, hazards that place the country among the most disaster-prone small island developing states. The Chairmanship gives Belize a leadership role in guiding policy decisions and the strategic direction of the CDB’s member countries over the next 12 months.
Belize last hosted the CDB Annual Meeting in 1994, when it also served as Chair of the Board of Governors. The country has been selected to host the 57th Annual Meeting in June 2027, marking the first time in more than 30 years that the event will return to Belize.
Preparations for the 2027 meeting are already underway, with delegates expected from across the Caribbean and beyond. Prime Minister Briceño described the appointment as both a significant honor and a major responsibility for Belize as it works alongside regional partners to advance shared development goals. Dr. Martinez expressed Belize’s commitment to “advancing sustainable development, resilience, and economic transformation across the Caribbean region over the coming year.”
The Belize delegation was led by Dr. Martinez and included Carlos Pol, Director on the CDB Board of Directors and Chief Executive Officer in the Ministry of Economic Transformation; Henry Anderson, Chief Executive Officer of the Development Finance Corporation; Jerdie King, Economist in the Ministry of Economic Transformation; and Michael Rudon, Director of the Government of Belize Press Office.
Belize’s tenure as Chair begins immediately and will culminate next year when the country hosts the annual meeting and hands over leadership to the next member state. The $20.2 million climate fund is expected to support vulnerable communities and strengthen the country’s resilience to natural disasters. The 2027 meeting will also provide Belize with an opportunity to showcase its development progress and growing regional leadership while potentially attracting new investment and partnerships for climate-resilient infrastructure projects across the country.