President of the Inter-American Development Bank (IDB), Ilan Goldfajn, has called for a renewed effort to overcome the historic plagues of poverty and inequality, increasing productivity and accelerating growth.
Goldfajn, who is on his first visit here since his election to the top post late last year, told the X1 annual consultation with IDB governors from the Caribbean as well as the President of the Barbados-based Caribbean Development Bank (CDB) that such efforts are needed while tackling more frequent climate events and scarce resources.
He said the Washington-based financial institution is best suited to helping the Caribbean in this effort.
“The IDB must help the region rise to its challenges including the more frequent and costly natural disasters, through innovative and agile ways to prepare, adapt and react”.
Before the opening of the meeting which ends on Tuesday, the IDB said that it organizes this consultative meeting annually with governors of countries comprising its Caribbean Country Department in preparation for the Annual Meeting of the Board of Governors to be held March 16-19, this year in Panama.
It said as the Caribbean emerges from the pandemic, international financial institutions (IFIs) are being called upon to offer solutions that are better suited to the Caribbean’s development needs and vulnerabilities.
The consultation will focus on “Partnering for a Resilient Caribbean” to bring clarity on how IFIs, Governments, and the private sector can work together to achieve this vital paradigm shift, the IDB said.
“The iDB Group is embarking on a new phase of effective development support for Latin America and the Caribbean that seeks to achieve better social outcomes, including through greater climate resilience and enhance sustainable digital and physical infrastructure,” the IDB added.
The meeting here is being attended by the respective Caribbean Country Governors for The Bahamas, Barbados, Guyana, Jamaica, Suriname, and Trinidad and Tobago.
The IDB said that the meeting here coincides with loan signings for Trinidad and Tobago, Guyana, and Barbados as these countries move “ahead with investments to support their needs in areas such as education, health, resilient infrastructure, water, and sanitation or competitiveness of micro, small and medium enterprises”.
As part of his visit, Ilan Goldfajn will pay a courtesy call on Prime Minister Dr. Keith Rowley and other members of Cabinet.