THE Caribbean Development Bank (CDB) could invest in a legal marijuana industry in the Caribbean. CDB President Warren Smith made this statement at the end of the bank’s 49th Annual Board of Governors meeting at Hyatt Regency, Port of Spain on Thursday.
At a news conference, Smith said, “I see no reason why, once the legislation is passed, the CDB cannot be involved in that type of work.”
At an agriculture seminar held at the same venue on Wednesday, CDB director (projects department) Daniel Best said the bank was not investing in marijuana at this time. Best indicated marijuana was “still an illegal commodity” in many of the CDB’s member countries.
Smith told reporters, “I believe that it is only a matter of time, before across the region generally, the marijuana laws will change.”
Once that happens, Smith believed it would “create the basis for wider production and wider trade in this product.” He said the benefits of medicinal marijuana were