BRIDGETOWN, Barbados – President of the Caribbean Development Bank (CDB, the Bank), Daniel Best has highlighted the critical role of privacy and data governance in shaping equitable and resilient development outcomes.
Speaking at the 9th Annual Multilateral Development Bank (MDB) Privacy Symposium, Best shared that “When individuals share their data with us, they are placing their trust in our institutions. That trust must be earned and safeguarded.”
He also reaffirmed the bank’s commitment to ethical innovation and inclusive development as Artificial Intelligence (AI) becomes increasingly embedded in development strategies. The Symposium, an annual knowledge-sharing and collaboration forum for MDB data privacy teams, comes at a pivotal moment for MDBs and their partners. With digital transformation reshaping industries and society, the demand for strong privacy frameworks that uphold transparency, foster inclusion, and ensure accountability is more critical than ever.
CDB’s president highlighted the bank’s preemptive approach to infusing privacy-by-design principles into its operations, from project ideation to implementation. He also underscored the importance of collaboration among MDBs to harmonise standards and share best practices.
“Innovation without trust is unsustainable,” he noted. “At CDB, we are investing in digital infrastructure and data systems that are not only efficient but secure and ethically grounded. Strengthening our internal governance and embedding privacy into our risk management frameworks are essential steps toward resilience.”
The president also drew attention to the concurrent hosting of the 22nd International Accountability Mechanisms Network by CDB, reinforcing the bank’s leadership in promoting responsible development built on trust and transparency.
CDB’s general counsel, Diana Wilson Patrick, also addressed Symposium participants during the opening session. She urged attendees to confront the growing complexity of development work, accelerated by rapid technological change and the rise of AI. “This evolving landscape presents both challenges and opportunities,” she noted, emphasising that the current and future ecosystem demands fresh thinking, innovative methodologies, and sustained efforts to build awareness and capacity.
The two-day Symposium offered MDBs a platform to enhance privacy protections throughout the project lifecycle, share insights from privacy programme audits and assessments, and advance the MDB privacy agenda.