The operational performance of the Special Development Fund (SDF/the Fund) of the Caribbean Development Bank (CDB/the Bank) continued to strengthen in 2023, amid ongoing recovery in the Region post-pandemic. While the Bank encountered some setbacks and delays in ongoing efforts to enhance its operational effectiveness, it was able to maintain a focus on delivering development results. Additionally, the financial performance of the SDF was fair, and the Bank demonstrated commitment to applying lessons learned.

These aspects of the performance are reviewed in this annual report and are summarised below, from the perspective of four different lenses— Operations, Results, Finance and Learning.