Caribbean Development Bank head urges MDBs to promote confidence, fairness, and diversity in AI

The President of the Caribbean Development Bank (CDB), Mr. Daniel Best, recently emphasized the vital importance of privacy and data governance in fostering fair and resilient development outcomes across the region.

CDB reported that during his address at the 9th Annual Multilateral Development Bank (MDB) Privacy Symposium, Mr. Best highlighted the foundational role of trust in data sharing. He stated, “When individuals share their data with us, they are placing their trust in our institutions. That trust must be earned and safeguarded.”

He further reaffirmed the Bank’s dedication to ethical innovation and inclusive growth, particularly as artificial intelligence (AI) increasingly integrates into development initiatives. The symposium, an annual event dedicated to knowledge exchange and collaboration among MDBs’ data privacy teams, arrives at a crucial juncture. As digital transformation accelerates across industries and communities, the need for robust privacy frameworks that prioritize transparency, promote inclusion, and ensure accountability has become more urgent than ever.

Mr. Best reportedly underscored the CDB’s proactive stance on embedding privacy-by-design principles into its operational processes, ranging from project conception to execution. He also called for greater collaboration among MDBs to align standards and share best practices, fostering a unified approach to data governance.

“Innovation without trust is unsustainable,” he remarked.“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.”

Additionally, Mr. Best drew attention to the simultaneous hosting of the 22nd International Accountability Mechanisms Network by CDB, underscoring the Bank’s leadership in advocating responsible development founded on principles of trust and transparency.