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The Caribbean region holds significant untapped potential for sustainable development, but it also faces complex challenges. The 2024 Caribbean Development Dynamics Report, presented in Barbados on Friday, emphasizes the need to boost climate resilience, improve productivity, and enhance regional integration.
The report highlights that while most Caribbean nations have made notable socio-economic progress, the region remains highly vulnerable to climate change. Limited access to external financing and persistent connectivity issues further complicate efforts to achieve sustainable development.
“Building resilience is not just an environmental priority but an economic necessity,” the report states, calling on regional leaders to adopt strategies that promote green growth and reduce vulnerabilities.
Prepared by the OECD Development Centre and the Inter-American Development Bank (IDB), the report examines 15 countries: Antigua and Barbuda, Barbados, the Bahamas, Belize, Dominica, the Dominican Republic, Grenada, Guyana, Haiti, Jamaica, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Suriname, and Trinidad and Tobago.
Each of these nations faces shared threats, including extreme weather events and reliance on costly imports. However, the report also underscores the opportunity for collaboration in sectors such as renewable energy, tourism, and digital connectivity.
The report calls for stronger regional cooperation to tackle these issues collectively. Improved trade links, shared climate strategies, and coordinated policies can enhance resilience and unlock economic opportunities.
Experts believe that prioritizing climate resilience will not only safeguard the Caribbean from environmental risks but also position the region as a leader in sustainable development, setting an example for other vulnerable regions worldwide.
