BRIDGETOWN, Barbados – In a powerful statement marking International Anti-Corruption Day, Caribbean Development Bank (CDB) President Daniel Best identified systemic corruption as one of the most formidable obstacles to sustainable development across Caribbean nations. The Barbados-based financial institution used the occasion to reinforce its institutional commitment to the foundational principles of effective development: transparency, integrity, and accountability.
Citing alarming United Nations statistics provided by Secretary-General António Guterres, Best revealed that approximately one trillion US dollars are paid in bribes annually worldwide, with an additional $2.6 trillion stolen through corrupt practices. These astronomical figures represent resources that could otherwise transform living conditions and build prosperous societies, particularly in Caribbean countries already operating within constrained fiscal environments and substantial debt obligations.
For vulnerable small island states served by the CDB, Best emphasized that resources lost to corruption directly equate to forfeited essential infrastructure, diminished education and healthcare services, and missed economic advancement opportunities. Consequently, the Bank regards anti-corruption not as peripheral concern but as central to its developmental mandate.
The CDB’s Office of Integrity, Compliance, and Accountability has served as the institutional anchor for governance frameworks throughout the past decade, encompassing ethics, accountability, and compliance mechanisms. Through sustained capacity-building initiatives, including specialized training and knowledge-sharing programs, the Bank has demonstrated regional leadership in promoting anti-corruption practices and robust governance standards.
This year’s theme, “Uniting with Youth Against Corruption: Shaping Tomorrow’s Integrity,” aligns directly with CDB’s operational priorities and strategic vision. Recognizing youth development as fundamental to institutional strategy, the Bank is committed to empowering the next generation with values, knowledge, and tools necessary to champion integrity across all sectors. Young Caribbean citizens bring technological fluency, fresh perspectives, and determination to challenge outdated practices that have historically impeded progress.
By investing in youth-led initiatives and creating platforms for young voices in governance discussions, the CDB aims to foster a generation that will both demand and deliver higher standards of institutional integrity throughout the region.