“Education is the great growth industry of the Third World” – Arthur Lewis
A word of wisdom from the groundbreaking St. Lucian Economist, Sir Arthur Lewis who has opened many paths to the field of economic development.
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Born on January 23, 1915, the Caribbean Development Bank (CDB) honors its founding president, a trailblazer in the field of regional development.
As the first indigenous development bank in the region, CDB was founded with significant assistance from Sir Arthur, a distinguished scholar, inventor, and recipient of the Nobel Memorial Prize for Economic Sciences.
The CDB noted in a statement, “Serving as President from 1970 – 1973, he played a key role in shaping the strategy and structure of the institution and devising the policies and procedures to ensure its effectiveness in promoting economic development in the Caribbean.”
“Recognizing that the evolution and growth of the Region would require a skilled workforce, his tenure was marked by an emphasis on developing human capital with the Bank prioritizing investments in education and skills development to support economic growth.”
The financial institution noted, “A national of Saint Lucia, Sir Arthur believed that collaboration and joint efforts were essential to address common challenges and played a critical role in fostering integration and cooperation among Caribbean countries.”
“As President, he encouraged member countries to work together and leverage the resources and expertise of the Bank to achieve shared goals.”
“CDB honors his legacy through our commitment to accelerating the social and economic development of Caribbean nations and our ongoing efforts to mobilize the capital and resources needed to achieve the best future for the Region and the people we serve.”
The institution ended on a note stating, “may his legacy endure” as a conclusion on its statement.
