As Caribbean countries undergo the rebuilding process following September’s devastating climatic events, over US$2 billion in donations, loans and debt relief was pledged during a recent high-level conference in New York, United States, to support long-term recovery in the Region’s hurricane-affected nations.
Participants at the high-level Pledging Conference held on Tuesday at the UN Headquarters
The Caribbean Community (Caricom)-United Nations (UN) high-level pledging conference, “Building a more Climate-Resilient Community”, recognised that the Region could only “build back better” with international support and urgent climate action.
Having recognised the urgent needs of Caribbean islands affected by Hurricanes Irma and Maria, a broad partnership was mobilised to support reconstruction efforts, including more than US$1.3 billion in pledges and over $1 billion in loans and debt relief.
This support derived from nearly 400 high-level representatives from Governments, multilateral and civil society organisations and the Private Sector gathered at UN Headquarters on Tuesday with the Secretaries General of the UN and Caricom to help ravaged countries to “build back better” as the first climate-resilient countries in the world.
Estimated amounts pledged were: US$702 million from The Netherlands; US$352 million from the European Union; US$140 million from the World Bank; US$78 million from Canada; US$30 million from China; US$27 million from Mexico; US$12 million from Italy; US$4.3 million from the United States; US$4 million from Japan; US$1 million from Kuwait; US$2 million from India; US$1 million from Venezuela; US$1.2 million from Belgium; US$1 million from Chile; US$500,000 from Denmark; US$300,000 from Colombia; US$250,000 from Haiti; US$250,000 from New Zealand; US$200,000 from Brazil; US$150,000 from Kazakhstan; US$100,000 from Romania; US$100,000 from Portugal and US$20,000 from Serbia.
Moreover, the Inter-American Development Bank (IDB) pledged US$1 billion in loans, while Italy did the same with US$30 million in soft loans and Venezuela also forgave US$1 million in debt – all geared at building a more resilient Caribbean.
According to the latest needs estimate, overall recovery costs surpass US$5 billion.
Meanwhile, UN Secretary General António Guterres posited, “Countries in the Caribbean need support now to rebuild, and to take effective climate action. We need a new generation of infrastructure that is risk-informed, to underpin resilient economies, communities, and livelihoods.”
Climate-vulnerable islands were decimated, like Barbuda, the smaller of the two-island state of Antigua and Barbuda, and Dominica, with deep social, economic and environmental impacts. Other severely affected islands were Anguilla, British Virgin Islands, The Bahamas, and Turks and Caicos Islands. Haiti and St Kitts and Nevis also suffered damage. Sint Maarten/St Martin as well as Cuba and the Dominican Republic were impacted, in addition to Puerto Rico.
“Climate change is not a theoretical question for the people of the Caribbean. You live this reality daily. Our sentiments and well wishes will not be enough. Our messages of solidarity alone will not do. Right now, it is time for us to act,” said UN General Assembly President Miroslav Laj?ák.
Responding to the urgent needs, over US$1.35 billion were pledged by established partners and new ones, highlighting the importance of South-South Cooperation—from the Region and beyond.
