Manager of the Anguilla Development (ADB), Althea Hodge, has given a comprehensive overview of the functioning of the organisation over the past thirty years. The overview (published elsewhere in The Anguillian), was delivered at a press conference on Tuesday this week.

L-R: Carl Harrigan, Althea Hodge, John Rogers and Calvet Carty

Accompanying her were Adviser in the Ministry of Finance, Carl Harrigan, and two of the Directors of the Board, John Rogers and Calvert Carty.

During the overview, Mrs. Hodge gave an analysis of the strengths and weaknesses of the Development Board. The strengths listed are that:

• The ADB has built a reputation for being highly supportive of its customers through the provision of technical assistance and other counseling and advisory services.

• ADB benefits from a long-serving, experienced and committed staff, ensuring stability and continuity in the quality of service provided.

• As a statutory organisation, ADB is closely affiliated to Government and as a result enjoys certain operational benefits.

• ADB is specifically geared to providing development finance to the productive sector.

• With minimal loan-processing fees, and related loan charges, ADB is able to provide effectively low-cost financing.

• ADB’s activities are guided by documented, sound operational policies and procedures.

• The organisational culture at ADB allows for good interpersonal relationships both internally among employees and externally with the broader community.

• Despite severe funding restrictions, ADB has maintained a high level of profitability over the past ten years.

The weaknesses were identified as:

• ADB has limited access to adequate funding to meet existing and potential customer needs.

• As a statutory organisation, ADB is bound by certain legislative requirements, which inhibit its decision-making and other functional capacity.

• Because of limited financial resources, ADB’s scope and flexibility in lending are very restricted.

• As a government-owned institution, ADB is perceived as a payee of last resort and a lender to lower income persons only.

The strengths of the Anguilla Development Board have outweighed, by far, its weaknesses as the organisation has been categorised as being a “financier of national prosperity.”

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