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Concerns raised about method used to send CDB President on administrative leave

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Antigua and Barbuda Prime Minister Gaston Browne Wednesday said concerns have been raised about the method used to send the President of the Barbados-based Caribbean Development Bank (CDB), Dr Hyginus “Gene” Leon, on administrative leave since January.

The CDB has remained mum on the circumstances surrounding the decision to send the St Lucian-born economist on administrative leave, with the acting president Isaac Solomon, confirming at a bank news conference earlier this month that “there is an internal administrative process involving the president.

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“The bank is extremely focused on preserving the independence, confidentiality and integrity of the process and as you can well appreciate in order for us to maintain the integrity and confidentiality of the process, we are unable to provide any other details at this time,” Solomon said then.

Browne is attending the 46th regular meeting of Caribbean Community (CARICOM) leaders where CARICOM chairman and Guyana President Dr Mohamed Irfaan Ali had indicated “yes leaders will be looking at the Caribbean Development Bank on the challenges we have”.

Browne, speaking to reporters here on Wednesday, said “well it is a process that is taking place and there were concerns about the procedure that led to that process and at some point we will have to address the issue of the procedures and the fact that subordinates within an institution can literally take disciplinary action against their superior without even consulting with the directors or the governors of the bank.”

“I mean there is something fundamentally flawed about that and you would have seen two developments, not only the sending on leave or the institution of disciplinary action against the president but even prior to that when the race for the candidature was taking place between Leon and Professor Avinash (Persaud of Barbados) I recall that same whistle blower system was activated”

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Browne told reporters by virtue of that “they practically would have eliminated Professor Avinash” and that the process “could be abused,” adding “we don’t know for a fact that it is being abused currently, but we have concerns it may have been abused and in that case we will have to make some changes.

“But I imagine that the investigation that is taking place will confirm whether or not the…suspended president is guilty of any malpractice within the bank or if he would have breached whatever rules and regulations.

“So I think we have to await the outcome of that investigation before we start to make the adjustments,” Browne said, noting “making too strident arguments about making adjustments against a system that may not be broken.

“On first blush I think the whole process is somewhat flawed and I am of the view that even if it may be applicable to lower members of staff, certainly when it comes to the president there has to be some, at least notification, even out of decency to the directors and the governors”, he stated.

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He said based on the issue “there could be some form of intervention at the level of the governors.

“So it is a process we will be hopefully reviewing in the future to ensure that we do not have a system that potentially can be abused and could be weaponised against future presidents of the bank or senior members of the bank,” Browne told reporters.

Leon is the sixth president of the regional development finance institution. He was elected at a special meeting of the CDB Board of Governors held on January 19, 2021, for a five-year term, and assumed office on May 4, 2021.

Leon heads a team of more than 200 employees headquartered in Bridgetown and came to the assignment with 35 years of experience in economics, financial policy development, and executive management, more than 20 of which were spent working with the Washington-based International Monetary Fund (IMF).

He had succeeded the Jamaican-born Dr Warren Smith who retired in 2021 after serving as president for 10 years.

SOURCE: CMC

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REQUEST FOR EXPRESSIONS OF INTEREST

(CONSULTING SERVICES – INDIVIDUAL SELECTION)

 

OECS MSME Guarantee Facility Project

Loan No.: IDA-62670, IDA-62660, IDA-62640, IBRD-88830, IDA-62650

Assignment Title: Senior Operating Officer (SOO)

Reference No. KN-ECPCGC-207852-CS-INDV

 

The Governments of Antigua and Barbuda, Commonwealth of Dominica, Grenada, St. Lucia and St. Vincent and the Grenadines have received financing in the amount of US$10 million equivalent from the World Bank towards the cost of establishing a partial credit guarantee scheme, and they intend to apply part of the proceeds to payments for goods, and consulting services to be procured under this project. 

The consultant will serve as the “Senior Operating Officer (SOO)” for the ECPCGC and should possess extensive knowledge of MSME lending with some direct experience lending to Micro, small and medium-sized businesses, knowledge of the internal control processes necessary for a lending operation and the ability to design and implement risk mitigation procedures. The ideal candidate should possess an Undergraduate Degree from a reputable college or university, preferably in Business, Accounting, Banking or related field, with a minimum of 5 years’ experience in lending, inclusive of MSME lending. The initial employment period will be for two years on a contractual basis. Renewal of the contract will be subject to a performance evaluation at the end of the contractual period. The assignment is expected to begin on September 30th, 2021.  The consultant will report directly to the Chief Executive Officer of the ECPCGC.

The detailed Terms of Reference (TOR) for the assignment can be viewed by following the attached link below. 

 

https://bit.ly/3iVannm

 

The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) now invites eligible “Consultants” to indicate their interest in providing the Services. Interested Consultants should provide information demonstrating that they have:

  • An Undergraduate Degree from a reputable college or university, preferably in Business, Finance, Banking or related field; and
  • Minimum of 5 years’ experience in MSME lending. Applicants should also have:
  • The ability to design and implement risk management procedures 
  • Extensive knowledge of MSME lending with some direct experience lending to small and medium-sized businesses
  • Extensive knowledge of MSME banking operations
  • Knowledge of the internal controls necessary for a lending operation and the ability to design and implement risk management procedures
  • Experience developing and presenting information in public, including responding to questions in real-time
  • Experience lending to MSMEs located in the ECCU
  • Knowledge of marketing and communicating with the MSME sector
  • Ability to draft procedures to be used in a lending operation
  • Familiarity with the mechanics of a loan guarantee program
  • Exceptional written, oral, interpersonal, and presentation skills, and
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The attention of interested Individual Consultants is drawn to Section III, Paragraphs 3.14, 3.16, and 3.17 of the World Bank’s Procurement Regulations for IPF Borrowers July 2016, [revised November 2017] (“Procurement Regulations”), setting forth the World Bank’s policy on conflict of interest. A Consultant will be selected in accordance with the Approved Selection Method for Individual Consultants set out in the clause 7.34 of the World Bank Procurement Regulations for IPF Borrowers. 

 

Further information can be obtained at the address below during office hours 0800 to 1700 hours:

Eastern Caribbean Partial Credit Guarantee Corporation

Brid Rock, Basseterre,

St. Kitts.

Expressions of interest must be delivered in a written form by e-mail by August 11th, 2021, to [email protected]

 

For further information, please contact:

Carmen Gomez-Trigg                                                            Bernard Thomas

Chief Executive Officer                                                          Chief Financial Officer

Tel: 868-620-8144                                                                  Tel: 869-765-2385

Email: [email protected]                                          [email protected]