Guyana among IDB Governors to sign on to “One Caribbean” initiative

Guyana was among six Caribbean Governors of the Inter-American Development Bank (IDB) Group to endorse an initiative for sustainable growth in the Region.
The IDB Group’s “One Caribbean” programme is a comprehensive framework designed to support enhancing living standards across the Caribbean region. The programme focuses on four pillars: climate adaptation, disaster risk management and resilience, citizen security, Private Sector engagement, and food security, as well as two cross-cutting areas, strengthening institutions and facilitating digital transformation.

The signing of this endorsement statement took place on Friday during the IDB and IDB Invest Annual Meetings in Punta Cana, Dominican Republic. The signatories included Guyana’s Senior Minister with Responsibility for Finance and the Public Service, Dr Ashni Singh; Barbados Prime Minister Mia Amor Mottley; Bahamas Economic Affairs Minister and Leader of Government Business in the Senate, Michael Halkitis; Surinamese Finance and Planning Minister Kermechend Raghoebarsing; Trinidad and Tobago Planning and Development Minister Pennelope Beckles; and Belize’s Minister of State in the Finance Ministry, Christopher Coye.
IDB President Ilan Goldfajn signed as a witness of honour.
According to President Goldfajn, “Today’s signing is another important step in our over half-a-century long relationship with the Caribbean and its people. In 2023, we started a discussion about shared challenges and the need to create a regional programme to address these issues. “One Caribbean” is proof that we at the IDB Group are committed to partnering with the Region in their efforts to achieve inclusive and sustainable growth with an emphasis on high-impact initiatives. It is the first initiative under the Group’s new institutional strategy.”
By 2030, “One Caribbean” is expected to successfully support the Region in increasing access to resilient infrastructure, promoting safer communities, enhancing Private Sector engagement and productivity, and improving food availability, access, use, and stability. The initiative will facilitate greater impact and the increased flow of resources for the Caribbean with the support of the IDB Group.
As a trusted partner and the largest development finance institution in the Caribbean region, the IDB Group is well poised to offer countries comprehensive solutions tailored to their specific needs. The IDB Group will deploy all its windows to address inter-dependent underlying challenges, provide mechanisms to increase innovative financing, and boost collaboration with partners that work in the Region.
Minister Singh is leading the Guyana delegation at the 2024 Annual Meetings of the Boards of Governors of the IDB and IDB-Invest, in Punta Cana.
The meetings are being held from March 6 to March 10, and will include discussions by economic and financial leaders from the 48 member countries of the IDB, about the challenges and opportunities for development in Latin America and the Caribbean.
This year, as a prelude to the Annual Meetings, Guyana hosted the Twelfth Annual IDB consultation with Caribbean Governors in February.
Accompanying the Finance Minister to the meetings are Chief Planning Officer at the Finance Ministry, Dr Tarachand Balgobin, and Alternate Executive Director in the Caribbean Office of the IDB, Navita Anganu Ramroop.
The IDB Group is the leading source of development financing for Latin America and the Caribbean. It contributes to improving lives by providing financial solutions and development expertise to public and Private Sector clients. The Group comprises the IDB, which has worked with Governments for more than 60 years; IDB Invest, which serves the Private Sector; and IDB Lab, which tests innovative ways to enable more inclusive growth. (G8)