The Caribbean Community’s goal of creating a climate resilient Region requires significant grant funding and very concessional financing, CARICOM Secretary-General Ambassador Irwin LaRocque said Monday.
Speaking at the opening ceremony of the Twenty-Ninth Inter-sessional Meeting of CARICOM Heads of Government at the Marriott Port-au-Prince Hotel in Haiti, he said “without access to such financing, already high debt levels across the Region would be exacerbated.”
At opening of Intersessional mtng of CARICOM Heads of Govt., in Haiti, #CARICOMOrg SG, Amb. Irwin LaRocque, spoke of need for significant grant funding and concessionary financing to rebuild after 2017 hurricanes #29intersess pic.twitter.com/zGuXgNBkn9
— CARICOM (@CARICOMorg) February 26, 2018
He explained that most CARICOM countries were categorised as middle or high-income and were largely ineligible for concessional development financing and Official Development Assistance (ODA), due to the use of GDP per capita as the principal criterion.