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Regional Prosperity Attainable in numbers says Presidents of Multi-Lateral Development Banks during CDB’s 52nd Board of Governor’s Meeting

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By Dana Malcolm

Staff Writer

 

June 17, 2022 – Private sector partnerships are going to be the Caribbean’s saving grace as governments try to make the region the home of choice. This was the perspective of the heads of three major banks at the Caribbean Development Bank’s 2022 staging of their ‘Presidents Chat’, an event bringing together the presidents of multilateral development banks worldwide.

This year the meeting featured: Dr. Gene Leon president of the Caribbean Development Bank; Dr. Werner Hoyer president of the European Investment Bank and Mauricio Claver-Carone President of the Inter-American Development Bank along with past president of the CDB Dr. Warren Smith.

The Moderator of the event Dr. Marion Williams explained why the chat was so important.

“The series is designed to discuss issues in a non-technical manner that is readily accessible to citizens on all our continents,” she said

This year’s focus was on how multilateral development banks could play a catalytic role in finding innovative financing to push the development goals of their member countries, especially from the private sector; basically how to make companies want to invest within their member countries futures.

Most of the goals held by countries around the world stem from the United Nations 2030 Sustainable Development Goals including the elimination of poverty, enhancing food security, good health, quality education, climate action, etc. Leon explained the needs of the developing Caribbean states were huge and all of them needed to be tackled because,

“If we don’t do it all we simply cannot achieve the development goals.”

To make the Caribbean region a place of choice Leon said we must achieve four things; water, energy, food and quality of life security.

To meet these goals, the Caribbean had to have three key facilitators:

  • embracing a digital transformation

  • Solving our implementation capacity deficit

  • Strong evidence-based governance

Financing to hit all of these targets was the region’s biggest problem Leon said and ‘Access to Adequate and Affordable Finance’ (#AAAF) was the goal.

“There is no way we can fix a trillion-dollar problem with a million dollars…there is no way we can get there without crowding in [and] partnerships in all areas.”

Hoyer of the EIB lauded the CDB citing its unparalleled experience with development challenges noting that by working together they could “achieve so much more”, especially in climate action.

He stressed that the time for investing in issues like climate change was now or the most vulnerable would suffer.

“The provision of grants and loans is not enough. New financial instruments need to be deployed in order to bring private capital to fund climate action.”

Claver-Carone of the IDB, who is from Miami, describes himself as the closest president to the Caribbean (geographically) in years.

“It was on my agenda to raise the profile of the Caribbean with the bank.” He maintained

Allocations to the six Caribbean countries that the IDB serves have tripled to about $1.2 billion across 16 different projects. He described his relationship with the Caribbean Development Bank as his most important relationship of all as it enabled support to Caribbean countries which are not a part of the IDB.

Claver-Carone reiterated that the financing gaps in the Caribbean and Latin America are too large for taxpayers to handle.

“The recovery of Latin America and the Caribbean will be private sector led… We’re gonna make this the biggest public-private push in the history of the bank.”

Creating a good investment climate is key to achieving more privately-funded financing that the governments in the Caribbean desperately need.

To do this Claver-Carone said stricter regulations, digitized government to promote transparency and more aggressive moves towards garnering private sector investments are the needs for the region.

The IDB President said the Caribbean is viewed globally as a ‘sea of peace’ in comparison to the current state of the rest of the world, maintaining that “We’re gonna turn that peace and tranquility into prosperity.”

Bahamas News

Polio is back; 65 million missed shots in another COVID fall out

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By Dana Malcolm

Staff Writer

 

#USA, August 4, 2022 – For the first time in almost a decade a new case of polio was recorded in the United States. The case which ended in paralysis emphasizes the danger the region faces as vaccination levels drop to 30-year lows.

The World Health Organization warned in early July explained that vaccination in the region of the Americas and the rest of world was dropping rapidly because of various spin off effects precipitated by the Coronavirus Pandemic.

Over 65 million infants missed out on basic vaccines in the last three years thanks to disruptions in routine healthcare, lockdowns and other circumstances. The effects are already being felt as once eradicated disease like measles and polio are once again emerging.

The Pan American Health Organization announced earlier this year the Americas are now facing another measles outbreak after having been declared free of the disease in 2016.

Dr. Jarvis Barbosa, Assistant director of PAHO said vaccination levels are now as low as they were in 1994 for measles and polio and Brazil has had several outbreaks of measles.

In the case of the United States an unvaccinated young adult developed the disease after contact with another individual vaccinated with a live version of the vaccine.

The breakout polio case in the US sent shockwaves across the country because of the severe nature of the disease. Polio is an extremely dangerous disease with no known cure. It causes paralysis in as many as 1 in 200 infected and that paralysis is permanent.

Normally very few school age children would be at risk in the Americas as the vaccine is required to start school but with the gap in vaccinations many more children are now at risk.

Polio was one of the most feared diseases of the 20th century, paralyzing and killing hundreds of thousands, especially children. Thankfully vaccinated individuals are not at risk and as such the WHO is advising that the best way to protect against polio is vaccination.

 

Photo Caption:  Child in Benin takes Polio vaccine, UNSDG

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Caribbean News

Dunn’s River Offers Special Summer Package

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#Jamaica, August 5, 2022 – Persons looking for an adventurous activity to do this summer are being encouraged to take advantage of the ‘Summa Thrills’ promotion, being offered by the world-famous Dunn’s River Falls and Park.

The promotion, which ends September 15, includes paying one cost to climb the Falls, ‘Tek-A-Hike’ and Zip over the Falls via the Chukka Falls Flyer. In addition, persons will also have access to the beach, splash pad, and other amenities.

The cost for residents is $5,000 per person and US$75 per person for non-residents. A photo identification is required to access the resident rate.

“We have partnered with CHUKKA to create this five-star experience,” Marketing Manager, Urban Development Corporation (UDC), Kereen Cole-Ivey, told JIS News.

She further informed that ‘Tek-A-Hike’ is the newest product offering at Dunn’s River Falls and Park and that the promotion provides an opportunity to build awareness and renew interest in the falls and park.

‘Tek-a-Hike’ is a guided, one-hour-and-a-half hike that starts at the Tranquility Gardens and ends in the Dunn’s River Falls & Park Nursery. Here guests can purchase plants or adopt a tree as part of the park’s Reforestation and Conservation Programme.

The hike is approximately two miles and is an experience that the entire family can enjoy. Along the trail, guests will learn about the flora and fauna on the entire property, which is called the Belmont property, as well as the general history of Dunn’s River Falls and Park. They will also get a chance to visit the Belmont Great House ruins.

“Coming out of COVID-19, we thought that this (Summa Thrills) would have been a very great adventure for the family and for everyone to enjoy and have a good time,” said Mrs. Cole-Ivey, adding that the UDC has other plans in place for Dunn’s River.

Dunn’s River Falls and Park is open from 8:30 a.m. to 4:30 p.m. daily. Persons are being encouraged to book ahead via the Dunn’s River website at www.dunnsriverfallsja.com, otherwise tickets can be purchased on location.

You may also visit @dunnsriver.jamaica and @udcjamaica on Instagram or call 876 618-6052 for additional information.

The Dunn’s River Falls and Park is managed and operated by St. Ann Development Corporation (SADCO), a subsidiary of the UDC.

 

Contact: Shanna K. Salmon

Release: JIS

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Caribbean News

Carnival Cruise ordered to pay $10.2 million for passenger claiming rape by staff

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By Sherrica Thompson

Staff Writer

 

#USA, August 5, 2022 – A Miami-based Federal Court returned a more than $10.2 million verdict against Carnival Cruise Line in favour of a passenger who claims a former crew member raped her in a storage closet aboard the Carnival Miracle in 2018.

A jury issued the verdict recently in the U.S. District Court for the Southern District of Florida finding Carnival liable for damages to the plaintiff, for false imprisonment and sexual assault by a crew member, in December 2018.

The jury separately found that Carnival was not negligent and that the former crew member did not intentionally inflict emotional distress on Plaintiff.

According to a statement issued last week Tuesday, Carnival Cruise Line said the incident between the plaintiff and the former crew member was consensual and plans to appeal the court’s decision.

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