PR – The Grenada Development Bank (GDB) strengthened regional collaboration on sustainable development finance following participation in a high-level meeting of Eastern Caribbean development banks hosted by the Eastern Caribbean Central Bank (ECCB).
GDB General Manager, Royston Cumberbatch, represented the Bank at the two-day consultative forum held on January 29 and 30, 2026 in St.Kitts and Nevis. The meeting brought together senior leaders from development financial institutions across the Eastern Caribbean Currency Union (ECCU) to address emerging regional challenges and explore opportunities to mobilize concessional funding while accelerating inclusive and climate-resilient economic growth.
The forum provided a platform for development partners to exchange best practices, strengthen collaboration, and align strategies across priority sectors including agriculture, climate resilience, infrastructure development, economic diversification, and financial inclusion.
A key highlight of the meeting was a special presentation by Dr. David Lowe, Managing Director of the Development Bank of Jamaica (DBJ), who shared insights into DBJ’s wholesale lending model. Under this approach, the DBJ channels funding through commercial financial institutions, which in turn provide financing to end customers. This model has contributed significantly to DBJ’s exceptionally low non-performing loan levels and strong institutional sustainability.
Participants examined how elements of this framework could inform reforms within Eastern Caribbean development banks, including GDB’s ongoing transformation agenda—particularly in strengthening balance sheets, enhancing risk management, expanding access to finance, and deepening development impact.
Dr. Lowe also emphasized the importance of leading with measurable impact, encouraging development banks to balance financial performance with tangible social and economic outcomes.
During the meeting, participants agreed to pursue the development of a Memorandum of Understanding (MOU) between the Development Bank of Jamaica and Eastern Caribbean development banks. The proposed agreement will facilitate technical cooperation, knowledge exchange, and capacity building, with formalization expected in the coming months.
GDB also shared updates on its digital transformation programme, climate finance initiatives, and plans to expand affordable credit and technical support to micro, small and medium-sized enterprises (MSMEs) and homeowners, in alignment with Grenada’s national development priorities.
Commenting on his participation, GDB General Manager Royston Cumberbatch stated:
“This meeting reinforced the importance of collaboration among regional development banks as we work to expand access to finance, strengthen climate resilience, and support inclusive growth. The insights shared will directly inform GDB’s strategic priorities as we deepen our impact in Grenada and contribute to stronger economic outcomes across the region.”
The Grenada Development Bank remains committed to fostering partnerships that unlock development financing, strengthen institutional capacity, and promote sustainable prosperity throughout the Eastern Caribbean.
