New ADB board ‘imminent’ as cabinet completes due diligence

Agriculture Minister Ravi Ratiram during a distribution ceremony for Brazilian green dwarf coconut seedlings, Central Experiment Station, Centeno on December 1. - Faith Ayoung

Agriculture Minister Ravi Ratiram says the appointment of a new board for the Agriculture Development Bank (ADB) is imminent, but the process has taken longer than expected owing to Cabinet-level due diligence and mandatory background checks.

Speaking with Newsday on December 1, after the distribution ceremony for Brazilian dwarf coconut seedlings at the Central Experiment Station, Caroni North Bank Road, Centeno, Ratiram made the comments.

He said the board’s primary role will be to provide policy direction and strategy for the bank and to guide its handling of worker-related matters and operational challenges.

Ratiram said several proposed board slates have gone before Cabinet in recent weeks, each requiring “significant due diligence” to ensure nominees meet all criteria for state board appointments.

“The Cabinet, under the leadership and guidance of the Prime Minister, ensures all persons being placed on boards meet the requirements,” he stressed.

Once the checks are completed, he said, the formal instruments of appointment will be prepared.

“ADB will soon be getting a board that has gone to Cabinet and has been dealt with. It’s just a matter of having the instrument made available for the directors to be in place.”

Ratiram said issuing the appointment instruments does not fall under the remit of the Agriculture Ministry, and it is therefore reliant on other stakeholders to finalise the process.

“We were hoping it could have been done sooner, but when you’re looking at due diligence and background checks, those things take time. The preparation of these instruments also takes time,” he added.

He said the bank urgently needs an active board, as “there are some very important matters that need to be treated and dealt with.” Asked to identify those matters, he declined, saying he preferred to allow the incoming board to address them when appointed.

He reiterated the ministry is pushing for the board to be installed “in a timely manner”.

Previously, Newsday was told by a senior employee at the bank the absence of a board is creating a ripple effect with adverse consequences for clients and the bank’s daily operations. One issue the staffer hopes will be addressed is ongoing staffing shortages.

Shifting his focus, Ratiram dismissed claims of a fertiliser shortage affecting the rice industry, saying farmers should not be alarmed by speculation circulating in the public domain.

He said several types of fertiliser remain available on the local market, and the ministry’s research unit is reviewing all options to determine the best formulations for the current crop.

“We are in communication with farmers.”

Ratiram said no farmer has contacted his office directly to report fertiliser-related challenges, adding that field officers continue to monitor issues on the ground.

“None of the rice farmers we have been in communication with have flagged a problem with respect to availability of fertilisers.”

He said the industry is now in its replanting phase, following the recent harvest, and seed distribution for nurseries has already taken place. Though he said there were concerns about germination rates.

Ratiram said the ministry has been working closely with the board to resolve these issues. “It is all being treated, dealt with and resolved.”

He urged farmers to remain focused on the government’s development plan for the commodity, stressing that support remains available, from improved seed genetics and water management to extension services.

Ratiram said similar enthusiasm has been seen across other agricultural areas, including the ongoing coconut seedling distribution programme. He said his ministry has been engaging farmers regularly to identify their challenges and develop solutions.

“If there are any challenges being faced by the rice industry, this government is here to fix them. We will address the issues and work to lift and boost the industry going forward,” he concluded.