Caribbean Development Bank Development Effectiveness Review 2020
service delivery. Key achievements under the transformation agenda in 2020 include the:
Despite the recovery pathway, the Bank needs to review its operations and refocus to respond to BMCs post-pandemic. As a result, the Bank should:
(a) rationalisation of aspects of the Bank’s services which led to the outsourcing of certain administrative and maintenance functions;
(a) revisit the targets outlined in the 2020-2024 Strategic Plan and Transformation Programme;
(b) development of new tools such as the project cycle management information system (OP365), as part of client relations management enhancements; and
(b) design new lending and non-lending products, target new areas and scale up financing for new and cross cutting areas outlined in the 2020-2024 Strategic Plan;
(c) decommissioning of the Bank’s legacy systems and migration to a cloud-based system.
(c) deepen engagement with private sector entities as they are facilitators of employment and decent work; and
Other activities to be carried out in 2021 include transformation of finance functions to improve alignment with business planning and performance reporting. The gains envisaged from the reforms will enhance the Bank’s business model towards greater efficiencies, improved service delivery and better development results and effectiveness. Furthermore, cost containment measures and value-for-money principles remained as guiding principles to CDB’s operations in 2020, and at the same time, utilising its resources in a manner that will maximise their contributions toward achieving the development goals of BMCs. No data was available to assess the quality of CDB’s operations, as well as client perception of CDB’s service and lending and non-lending products. Nevertheless, the Bank remained committed to the process and provided the necessary resources to advance efforts to institutionalise these areas into its operations. This will facilitate better tracking and reporting on progress of the relevant indicators, commencing 2021. The way forward The pandemic had a devastating impact at all levels with children, people living with disabilities, women and the elderly disproportionately affected. Unemployment and loss of income generated a new group of poor and could widen the financial gap within the region. This could threaten socio-economic outcomes, and adversely affect development achievements, as well as erode the gains made from previous interventions by BMCs and the donor community, including CDB. This unprecedented event and associated fallout could make the SDG targets even more challenging for BMCs who are already grappling with existing social, economic and environmental vulnerabilities. The effects of the pandemic in Haiti, a fragile state, is a matter of concern.
(d) apply the climate finance tracking methodology to its operations in 2021.
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