(CARICOM Secretariat, Turkeyen, Greater Georgetown, Guyana) The more than US$2B pledged at the CARICOM-UN Conference for long-term recovery for hurricane-affected countries and the establishment of the regional renewable energy center are among the successes CARICOM recorded for 2017 in spite of the year’s challenges.
Caribbean Community (CARICOM) Secretary-General Ambassador Irwin LaRocque said in his End of Year Message that the Community was ending 2017 with several other noteworthy achievements, including a change in posture by International Financial Institutions and some Development Partners with respect to access to concessionary development financing.
“It is encouraging to note that our relentless advocacy with respect to the lack of access to concessional development financing appears to be bearing fruit. There is some re-thinking on this issue taking place at the level of the International Financial Institutions (IFIs) and some of our international development partners (IDPs),” the Secretary-General stated.
Adding that CARICOM will continue to advocate for this change he said the Region’s vulnerability to external shocks, which the hurricanes laid bare, emphasised the urgent need for the international community to dispense with GDP per capita as a primary criterion for access to concessional development financing. (more…)