BRIDGETOWN, Barbados, CMC – The Barbados-based Caribbean Development Bank (CDB) Wednesday announced that it had appointed Barbadian, Daniel Best as its new president, replacing the St. Lucian-born economist, Dr. Hyginus “Gene” Leon, who resigned from the region’s premier financial institution earlier this year.

In a brief statement, the CDB said that the Board of Governors had named Best to be the bank’s seventh president and that “this decision, reached today, underscores the Bank’s commitment to visionary leadership and sustainable development across the Caribbean region”.

It said that Best, who holds a Master’s Degree in Business Administration from the University of Durham in England, as well as a Master’s degree in Construction Engineering and Management and a Bachelor’s degree in Civil Engineering from the University of the West Indies (UWI), “brings a wealth of experience and a deep understanding of the region’s development challenges and opportunities.

“With a distinguished career spanning over 20 years in development finance, policy planning, and infrastructure investment, he is well-positioned to lead the CDB into its next chapter of impactful regional transformation.”

The statement said that as the new CDB president, Best will oversee its strategic direction, focusing on its core mandate to reduce poverty and inequality while fostering inclusive and sustainable growth.

“Under his leadership, the Bank aims to build on its legacy while addressing emerging challenges and opportunities in a rapidly changing global landscape,” it added.

Best, the senior infrastructure and development advisor to Prime Minster of Barbados, Mia Mottley, is reported to have secured the top position at the bank after edging out the Trinidad and Tobago candidate, Gregory Hill, who currently serves as the CDB’s vice president, finance and corporate services,

A third candidate, Bahamian Therese Turner Jones, who is the CDB’s acting vice president of operations, was withdrawn from the election in November.

In April, Leon, who was sent on administrative leave by the bank in January of this year, said he was stepping down as he believed that he would not be treated fairly if he returned.

His St. Lucia-based lawyers then said “It is also evident that the Bank has lost all trust and confidence in our client by the failure of the Board of Governors to prevent the continued violations of its Charter, policies, rules and regulations with regard to its elected President.

However, since then the CDB has remained mum on the circumstances surrounding the decision to send the sixth president of the bank on economist on administrative leave.

Meanwhile, Guyana has welcomed the appointment of Best.

In a statement, the Senior Minister with responsibility for Finance, Dr. Ashni Singh, extended congratulations to Best praising his long and successful career at the CDB and noting his deep understanding of the Caribbean’s development needs.

“I wish to congratulate Daniel Best on his success in the contest for the Presidency of the Caribbean Development Bank,” Singh said, adding “Daniel has had a long and successful career in the Bank, and he knows the Caribbean and its development circumstances and needs very well”.

The Guyana Minister highlighted the critical role Best will play in restoring the bank’s focus on its core mandate, saying “much work is needed to repair the Bank now, and restore its focus on the important mandate enshrined in its Charter. Daniel is well equipped to lead this work at this critical juncture”.

Singh also expressed Guyana’s eagerness to collaborate closely with Best, emphasizing the shared goal of addressing pressing regional needs.

“Guyana looks forward to working closely with Daniel as we tackle the pressing needs of our Region, and as we work together to improve the lives of all of the People of the Caribbean,” he added.