Tourism Congress to address theme of building resilience in tourism sector

GEORGETOWN, Guyana (March 12, 2018) – When the XXIV Inter-American Congress of Ministers and High-Level Authorities of Tourism opens on Wednesday, March 21 at the Guyana Marriott Hotel, one of the key areas for presentations and discussions will be the matter of building resilience in the Tourism sector in the Americas.

In the latter months of 2017, the hemisphere of the Americas received a painful reminder of the relevance and significance of this theme after several countries felt the devastating impacts of hurricanes, floods, fires and earthquakes. In fact, 2017 is regarded as a record-setting year for natural disasters in terms of the number, severity and financial costs of the disasters that occurred.

 

Hurricanes Irma and Maria that lashed the region last year prompted both emergency and strategic responses as property was destroyed almost overnight and economic livelihoods compromised. While in no way minimising the need for resilience due to storms and natural disasters, the Congress is taking a wider view of the concept of resilience, preferring to see it as a concept that embraces a more comprehensive range of strategies and measures that governments need to adopt in order to ensure the survivability of the sector.      (more…)

CDB launches project to improve disaster risk management and climate resilience in Ile-à-Vache, Haiti

March 12, 2018, BRIDGETOWN, Barbados – On Friday March 3, 2018, the Caribbean Development Bank (CDB) and the Government of Haiti launched a project to improve climate resilience and disaster risk management on Ile-à-Vache, an island off the country’s southern peninsula.

The Building Capacity for Disaster Risk Management and Climate Resilience Project is being funded through a CDB grant of USD5.5 million (mn), which includes a contribution of USD 896,000, from resources provided to CDB under the African Caribbean Pacific-European Union-CDB-Natural Disaster Risk Management in CARIFORUM Countries.

The island of Ile-à-Vache has five main villages and a population of approximately15,000, and is particularly vulnerable to the impacts of tropical storms and hurricanes. Speaking at the launch, Monica La Bennett, Vice-President (Operations), CDB, noted that the project has the potential to transform the lives of the people of Ile-à-Vache.

Recurring floods and storms that affect the island, damage the livelihoods of persons who depend on fishing and agriculture. This project aims to increase the resilience of Ile-à-Vache residents to natural hazards and impacts caused by climate change. This is key to social and economic development, and the systematic reduction of poverty. It is part of broader efforts by the Government of Haiti to make investments that increase the resilience of all the people of Haiti and improve their life chances,” said La Bennett.

Caribbean Development Bank
The Caribbean Development Bank (CDB), is a regional financial institution which was established by an Agreement signed on October 18, 1969, in Kingston, Jamaica, and entered into force on January 26, 1970. The Bank came into existence for the purpose of contributing to the harmonious economic growth and development of the member countries in the Caribbean and promoting economic cooperation and integration among them, having special and urgent regard to the needs of the less developed members of the region (Article 1 of the Agreement establishing CDB). In the Revised Treaty of Chaguaramas, the CDB is recognised as an Associate Institution of CARICOM
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Positive economic growth expected for Caribbean in 2018, but resilience-building measures needed

February 7, 2018, BRIDGETOWN, Barbados – The Caribbean Development Bank (CDB) is projecting regional economic growth of 2% in 2018. This follows a return to positive figures last year, during which the Region experienced overall growth of 0.6%–despite the devastation caused by the Atlantic Hurricane Season.

Director of Economics at CDB, Dr. Justin Ram, says that all of CDB’s Borrowing Member Countries (BMCs) are expected to contribute to the positive movement.

 “This is mainly driven by the return to growth in Trinidad and Tobago and a 2.3% uptick in Jamaica, which accounts for about a fifth of regional GDP. The highest growth rates are anticipated for Anguilla and Dominica as they rebuild from the damage caused by the 2017 hurricanes. Antigua and Barbuda and the Turks and Caicos Islands are also expected to have strong growth.”

Dr. Ram was speaking during CDB’s Annual News Conference on February 7, 2018. He noted, however, that although a return to growth is encouraging, the Caribbean still lags behind other small developing states. In the Region, growth has averaged 0.8% since 2009, compared to an average of 4.8% in other country groups.

Caribbean Development Bank
The Caribbean Development Bank (CDB), is a regional financial institution which was established by an Agreement signed on October 18, 1969, in Kingston, Jamaica, and entered into force on January 26, 1970. The Bank came into existence for the purpose of contributing to the harmonious economic growth and development of the member countries in the Caribbean and promoting economic cooperation and integration among them, having special and urgent regard to the needs of the less developed members of the region (Article 1 of the Agreement establishing CDB). In the Revised Treaty of Chaguaramas, the CDB is recognised as and Associate Institution of CARICOM.
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Grenada to host CDB’s 48th Annual Meeting

cdb logoGrenada will host the 48th Annual Meeting of the Board of Governors of the Caribbean Development Bank (CDB), which is scheduled to take place on May 30 and 31, 2018. The programme for this year’s Meeting will focus on resilience, against the backdrop of one of the most devastating hurricane seasons the Caribbean Region has experienced in recent history.

Approximately 400 delegates, including Government Ministers and officials, private sector representatives, members of civil society, academia, and media are expected to attend the Meeting. The event will highlight the impact of the Bank’s investments in its 19 borrowing member countries (BMCs). In addition, participants will take part in strategic discussions on resolving some of the Caribbean Region’s most pressing economic and social development issues.

“CDB thanks the Government of Grenada for agreeing to host the Bank’s 48th Annual Meeting. We look forward to working hand in hand with local officials on this flagship event. I am optimistic about the outcomes the Meeting will realise as our partners gather with a common goal to help this Region achieve resilience in all its forms,” said Dr. Wm. Warren Smith, President, CDB.

Read more at: Caribbean Development Bank