CDB to propose vulnerability, resilience framework to address economic, social, environmental realities SIDS
(Caribbean Development Bank Press Release) The Caribbean Development Bank (CDB) will propose the Recovery Duration Adjuster (RDA), a vulnerability and resilience framework, which better reflects the economic, social, and environmental conditions of small island developing states at the upcoming United Nations Climate Change Conference (COP26) in the United Kingdom.
“The Recovery Duration Adjuster integrates the impact of economic, social, and climate-related shocks on growth and welfare in SIDS. It focuses on measuring the internal resilience capacity of SIDS which, because of their peculiar vulnerabilities and state of development, face the reality of much longer recovery time from a shock compared with developed nations,” CDB President Dr. Gene Leon explained.
The RDA will be presented at the Caribbean Community pavilion on November 4, 2021, during COP26, which is scheduled to run from November 1-12 at the Scottish Event Campus in Glasgow.
The CDB President will participate in several high-level conference events, including the World Leader’s Summit on November 1; the Multilateral Development Banks’ Panel on Nature on November 2; and the COP26 Ministerial Dialogue on Adaptation Action on November 8, where he will join Odile Renaud-Basso, President of the European Bank for Reconstruction and Development, and Axel van Trotsenburg, World Bank Managing Director of Operations, in a discussion on finance for climate action.On Monday, November 8, the CDB President will also take part in a roundtable discussion with Vice-President Ricardo Mourinho Félix of the European Investment Bank on how to accelerate adaptation investments in small island developing states.
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About the Caribbean Development Bank
|The Caribbean Development Bank is a regional financial institution established in 1970 for the purpose of contributing to the harmonious economic growth and development of its Borrowing Member Countries (BMCs). In addition to the 19 BMCs, CDB’s membership includes four regional, non-borrowing members (Brazil, Colombia, Mexico, and Venezuela) and five non-regional, non-borrowing members (Canada, China, Germany, Italy, and the United Kingdom). CDB’s total assets as at December 31, 2020 stood at US$3.64 billion (bn). These include US$2.12 bn of Ordinary Capital Resources and US$1.52 bn of Special Funds Resources. The Bank is rated Aa1 Stable by Moody’s, AA+ Stable by Standard & Poor’s and AA+ Negative by Fitch Ratings. Read more at caribank.org.|