The Minister of Finance of that country, Hon. Vishnu Dhanpaul, will succeed the Minister of Finance and Economy of the Dominican Republic, Hon. José Manuel Vicente, as president.

Trinidad and Tobago assumed the presidency of the board of directors of the Latin American Development Bank (CAF) this Friday, for a one-year term, during which he will chair all board meetings.

Trinidad and Tobago's Minister of Finance, Hon. Vishnu Dhanpaul, will succeed the Dominican Republic's Minister of Finance and Economy, Hon. José Manuel Vicente, as President.

"It is an honor to be the first English-speaking Caribbean country to assume the presidency of CAF's Board of Directors, at a time coinciding with the Bank's efforts to incorporate new Caribbean countries as partners and shareholders," the minister stated.

CAF's Board of Directors is composed of members from its 22 shareholder countries, and the presidency rotates among them. Shareholder countries are represented on the Board by ministers of finance or economy, central bank governors, senior financial officials, and representatives of regional or private banks.

For his part, CAF's Executive President, Sergio Díaz-Granados, highlighted the importance of Trinidad and Tobago assuming the presidency of the CAF Board of Directors, becoming the first Caribbean Community (CARICOM) country to do so in CAF's history.

"I am extremely pleased to see Trinidad and Tobago assume this important leadership role. It is a historic milestone that demonstrates the deepening of our partnership with the Caribbean and our commitment to the integration of our region," he said.