It is the CDB’s 28th member and the fourth non-borrowing regional member, joining Colombia, Mexico and Venezuela in that category.
The announcement was made at the CDB’s first Board of Directors meeting for 2016, earlier this month.
“We are delighted to welcome Brazil and thank its government and people for joining hands with us to advance our mandate of reducing poverty and promoting economic growth and sustainable development in the Caribbean. Brazil’s membership is another historic seal of its relationship with Caribbean and strengthening of Latin American-Caribbean cooperation,” said Dr Warren Smith, CDB president.
Rafael Ranieri, Brazil’s alternate director to the CDB, said his country is pleased to join the CDB in support of its important role within the region.
“We expect that Brazil’s membership will contribute to strengthened relations between Brazil and the Caribbean and lead to greater collaboration in building a better future for the people of both our countries,” said Ranieri, who is general coordinator of relations with international organizations in the Ministry of Planning, Budget and Management and Secretariat of International Affairs.
Brazil’s director to CDB’s board is Carlos Eduardo Lampert Costa, deputy secretary of international affairs. The governor to CDB is Francisco Gatani, vice-minister, and Rodrigo Estrela de Carvalho, secretary of international affairs serves as alternate governor.
Brazil is the world’s seventh largest economy with GDP of US$2.5 trillion and a population of more than 200 million.
Membership in the Caribbean Development Bank is open to states and territories of the region; non-regional states which are members of the UN or of any of its specialized agencies or of the International Atomic Energy Agency; and institutions.