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UN wants Surge in Development for Developing Countries; $500 Billion annually needed to support

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Garfield Ekon

Staff Writer

The world is facing an annual financing gap of about $4 trillion to achieve sustainable development, leaving countries with hardly any resources to invest in better education, healthcare, renewable energy, or social protection.

United Nations (UN) Secretary General, Antonio Guterres who made the remarks at the 2024 Economic and Social Council (ECOSOC) Forum on Financing for Development, said there needs to be a “surge in investment” to give developing countries a chance to build better lives for their people.

“The Sustainable Development Goals (SDGs) are hanging by a thread, and with them, the hopes and dreams of billions of people around the world,” the Secretary General said, adding that countries should push for the SDG Stimulus of $500 billion annually in affordable long-term finance for developing countries, which he proposed in February 2023.

“Now it’s time to move from words to action and deliver affordable, long-term financing at scale,” he said, while also calling for “greater representation” of developing countries in global financial systems.

“The countries who need these systems and institutions most were not present at their creation, a lack of representation that continues to this day,” he said, emphasising the urgent need for change.

He highlighted that the Summit of the Future Opens in a new window, which will be held on September 22, and 23, 2024, in New York, and the 2025 Financing for Development Conference in Spain as “key opportunities” to gather world leaders to reform the global financial architecture.

“Let us make the most of these opportunities. Now is the time for ambition. Now is the time for reform. Now is the time to shape a global economic and financial system that delivers for people and planet,” he said.

For his part, President of the UN General Assembly, Dennis Francis told the forum that a “relentless focus’ needs to be on the financing crisis, as the 2023, the global public debt reached a staggering $313 trillion and over the last decade, increasing far more rapidly in developing nations than in developed ones.

“Worse, developing countries are paying twice as much in interest on their total sovereign debt stocks than developed nations, hobbling them further as they try to ascend the development ladder,” he said.

Adding that nearly half of humanity, or 3.3 billion people, live in countries that spend more on interest payments than on education or health, he stressed that “no nation, I repeat, no nation, should be forced to gamble with their future, countries must be enabled to channel their resources towards uplifting their communities and building resilience rather than servicing excessive debt,” Mr. Francis stated.

Caribbean News

Canadian Woman loses two hands, husband fights off shark 

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Deandrea Hamilton

Editor

 

Turks and Caicos, February 8, 2025 – Some claim that it is an overpopulated ocean which is driving sharks closer to shore to feed, and it is leading to dangerous and deadly encounters with the apex predator in peaceful waters like those in the Turks and Caicos Islands.

Seas were choppy, skies were partly cloudy but the white-capped waves and alluring turquoise waters of the Turks and Caicos Islands were the bait for two Canadian visitors whose morning swim was dramatically and tragically upended by a shark.

“There was a shark attack on the beach 10 minutes ago; close to where the horses are… “ informed a social media post shared with Magnetic Media.

Mr. and Mrs. Ross, a couple from Canada was swimming at the beach when Mrs. Ross was attacked by a shark, estimates put the creature at 6ft long.

Mrs. Ross lost both hands and a piece of her thigh.

The Royal TCI Police soon confirmed the tourist was injured, with this statement.

“At 10:33 am today (07th February), the Police Control Room of the Royal Turks and Caicos Islands Police Force received a report that a female visitor had been injured while swimming.  Medical personnel and the police were dispatched to the given location in Blue Hills, Providenciales.

The 55-year-old victim was brought ashore and rushed to the Cheshire Hall Medical Center for Treatment.”

The Department of Environment and Coastal Resources, DECR was summoned to the scene where they observed an approximately 6 foot long shark circling near where the family of the woman had huddled, distraught and tending to her life-threatening injuries.

By 1:26pm, the Thompson’s Cove Beach was closed by the DECR.

In the Turks and Caicos, this shark is protected as a valued part of the marine ecosystem but some residents speaking to us believe the shark

is a man eater.

“I was there for 40 minutes and it was still lingering.”

In truth, it appeared the shark was still in waters mere feet away from its victim, even as her loved ones struggled to offer medical care until EMS responded.

“That shark bite victim lost both her hands and some forearms.  Her husband tried to fight it off.”

It was reported that the woman, identified as Nathalie Ross, was taken to the Cheshire Hall Medical Centre for treatment.

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Caribbean News

Kenya’s Minister of Interior and National Administration Reports on Mission to Haiti

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February 8, 2025

 

“The Kenya-led Multinational Security Support (MSS) mission in Haiti continues to grow in troop numbers amid assurance of ironclad support from the international community.

This morning, I saw off an additional 144 police officers comprising 120 men and 24 women to bolster the 600 officers deployed earlier who have already made commendable progress in reducing gang violence in the Caribbean nation. Other countries, notably Guatemala and El Salvador, have in recent weeks deployed additional officers. Together with Jamaican and Belizean troops, and supported by Haitian police, we’re making concerted efforts to establish order.

Kenya’s leadership in this noble mission, which is supported by the UN Trust Fund for Haiti established under the UN Security Council Resolution 2699, is in recognition of our long-standing contribution to peacekeeping missions and peace support operations.

We’re constantly in touch with the UN and countries supporting this mission including the USA whose support in equipment and funding has been invaluable and unwavering.

Inspector General National Police Service Mr Douglas Kanja, Internal Security and National Administration PS Dr Raymond Omollo, Foreign and Diaspora Affairs PS Dr Korir Sing’Oei, National Security Advisor to the President Dr Monica Juma and Deputy National Security Advisor Mr Joseph Boinnet, among other senior officials, joined me in seeing off the contingent.”

 

Onesimus Kipchumba Murkomen

Ministry of. Interior and National Administration

Kenya

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Bahamas News

Concierge Auctions Anticipates Strong Bidding Activity for Unique Short-term Luxury Rental Properties Demand for The Bahamas & Caribbean Soars

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Coconut Island Estate Listed for $5.4M, a luxurious retreat in Casuarina Point, presents an exceptional beachfront opportunity with proven rental income potential.

The Bahamas, February 8, 2025 – Calling the demand for sophisticated short-term vacation rentals ‘unprecedented,’ a Sotheby’s Concierge Auctions executive anticipates strong activity when bidding opens on two unique Caribbean-based properties – one in The Bahamas, another in Jamaica – this month.

A heated pool overlooks pristine white sand beaches, while the beachfront bar and grill create an ideal entertainment setting. Immaculate landscaping enhances the natural beauty of this one-acre sanctuary.

“It is extraordinary that two distinct properties, each designed with spaciousness, attention to architectural style and detail, as well as amenities that cater to a highly sophisticated luxury market, come to market at the same time,” said Danny Prell, Vice President of Business Development at the world’s largest luxury real estate auction house.

He stated that both properties offer a component critical to the demanding high-end vacation rental client – a unique location with unmatched beauty, privacy and serenity.

One of the properties, Coconut Island Estate in Abaco in the northern Bahamas, already has a proven track record of rental success, generating a significant six-figure income. Situated on a stretch of baby powder soft beach in the chain of islands known as the ‘sailing capital of The Bahamas’, the estate consists of four separate houses with a total of 10 bedrooms and nearly 9,000 square feet of space. The residence features a beachside bar and grill, a heated pool, and ample opportunities for guests to enjoy swimming and snorkeling without leaving the property. For those seeking adventure, nearby charter options offer boating, fishing, diving, or excursions to charming neighboring islands and settlements.

Kenyan Sunset Listed for $3.5M; offers a distinct fusion of Caribbean elegance and African inspiration across two majestic acres in prestigious Caribbean Heights. This exceptional estate comprises three thoughtfully designed structures, each embodying unique charm.

The second offering, Kenyan Sunset in Montego Bay, Jamaica is sprawled across two acres with three residences perched high atop a hill overlooking two world-famous golf courses and the historic Rose Hall Great House. Its fusion of Caribbean and African lends colour and features that give it the appeal of an architectural magazine cover. The main house features three bedrooms, a private office, a fully equipped kitchen designed for entertaining, a wine cellar, a media room, and a gym, all centered around a private pool. A second pool is located at one of the two cottages.

“The short-term vacation rental industry as we know it today was unheard of just a generation ago,” said Prell. “Globally, it is generating upwards of $87 billion annually and there is no sign of a slowdown. What is less well-known is the demand for luxury properties where those of a certain economic standing can enjoy all the family, friends and colleagues they want to have around them in a non-commercial environment. These properties, Coconut Island Estate in the Abacos of The Bahamas and Kenyan Sunset in Montego Bay, are quintessential opportunities for the client who wants everything at his or her fingertips in a location that is easy to access and hard to leave.”

The estate’s elevated position between the renowned White Witch and Cinnamon Hill golf courses delivers spectacular views, while sharing grounds with the historic Rose Hall Great House adds to its prestigious providence.

Sotheby’s Concierge Auctions is working in collaboration with local Sotheby’s associates in both locations. Coconut Island Estate is listed by Mitzi Pearce of Bahamas Sotheby’s International Realty for $5.4 million with bidding expected to start between $1 million–$1.75 million. Kenya Sunset is listed by Coleen Samuels and Julian Dixon of Jamaica Sotheby’s International Realty for $3.5 million with bidding expected to open between $750,000 and $1.25 million. Both auctions are scheduled to open on February 21 and close on March 1 as part of an inaugural live sale event during ModaMiami in Coral Gables, Florida. Prell said he would not be surprised if a single bidder opts for both.

“Finding one revenue generating property at this level in excellent condition is rare, finding two in the same region at the same time is extraordinary,” he said. “It should be exciting and one of the most active auctions we have had in recent history because both lend themselves to the opportunity for owners to enjoy when they want and earn revenue when they wish.”

 

About Concierge Auctions

Concierge Auctions is the world’s largest luxury real estate auction marketplace, with a state-of-the-art digital marketing, property preview, and bidding platform. The firm matches sellers of one-of-a-kind homes with some of the most capable property connoisseurs on the planet. Sellers gain unmatched reach, speed, and certainty. Buyers receive curated opportunities. Agents earn their commission in 30 days. Acquired by Sotheby’s, the world’s premier destination for fine art and luxury goods, and Anywhere Real Estate, Inc (NYSE: HOUS), the largest full-service residential real estate services company in the United States, Concierge Auctions continues to operate independently, partnering with real estate agents affiliated with many of the industry’s leading brokerages to host luxury auctions for clients. For Sotheby’s International Realty listings and companies, Concierge Auctions provides Sotheby’s brand exclusivity as Sotheby’s Concierge Auctions. Since inception in 2008, the firm has generated billions of dollars in sales, broken world records for the highest-priced homes ever sold at auction and sold properties in 46 U.S. states and 35 countries. The firm owns one of the most comprehensive and intelligent databases of high-net-worth real estate buyers and sellers in the industry, and it has committed to build more than 300 homes through its Key For Key® giving program in partnership with Giveback Homes™, which funds new homes for families in need from every property the company sells. For more information, visit ConciergeAuctions.com.

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