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Insurance Development Forum and Bridgetown Initiative Announce Strategic Partnership for Resilience Finance Frameworks

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London, UK 5 June 2025 – The Insurance Development Forum (IDF) and the Bridgetown Initiative today announced a strategic partnership at the IDF Summit 2025, aimed at accelerating the integration of insurance into the international financial architecture (IFA) as a key part of the toolkit for enhancing resilience in Emerging Markets and Developing Economies (EMDEs).

Climate-related catastrophes are increasing in frequency and impact, with nations most vulnerable to disasters bearing severe economic costs. For the least developed countries, the impact is around 10 times more than in the richest countries as a share of their gross domestic product (GDP). When these or other natural disasters strike, development plans often need to be postponed, and/or hard-won development gains are lost. Strengthening the physical and economic resilience of these economies is essential, not only to withstand the impacts of disasters, but also to unlock greater investment and support their critical development, resilience and growth agendas.

The new public-private partnership seeks to elevate insurance as a central enabler in the global response to climate and other natural disaster risks, with a view to leveraging the full capabilities and functions of the insurance industry in enhancing resilience for vulnerable nations.

In a first step, the new partnership will publish a seminal paper during London Climate Action Week, outlining specific recommendations that different actors across the public and private sectors can implement in order to support this goal. Realising the full potential of insurance requires close collaboration between the industry and across a range of stakeholders, including EMDE governments, Multilateral Development Banks (MDBs), bilateral donors and regulators.

In a second step, IDF and the Bridgetown Initiative will unite to drive engagement and action to see the recommendations from the paper implemented. This will include both political engagement and technical work.

  • The Bridgetown Initiative will engage with the COP30 Presidency and other critical fora specifically centered on climate vulnerable countries, donor governments and MDBs, to strengthen the inclusion of insurance in the global IFA reform processes
  • IDF will lead the technical design and execution of insurance solutions in countries where the approach proposed in the paper can be demonstrated, and ensure representation of the insurance industry in high-level policy reform platforms.
  • Together, the IDF and the Bridgetown Initiative will advocate with EMDE governments to champion insurance inclusion in global IFA reform processes as appropriate.

The work to develop the paper to be published soon is also supported by the Government of Denmark though the Danish Ministry of Foreign Affairs, as part of its commitment to a wider set of priorities aimed at providing assistance in the development of critical analytical work that can inform its wider strategic engagement. The partnership is further supported by funding from the Quadrature Climate Foundation, a charitable foundation working to build a just, equitable, and low-carbon future.

This joint effort signals a new chapter in action for enhancing EMDEl resilience – one that puts risk management and long-term financial stability at the heart of development finance.

Ekhosuehi Iyahen, Secretary General, Insurance Development Forum, said:

“This partnership brings together the Bridgetown Initiative’s deep, practical understanding of the realities faced by vulnerable countries with the IDF’s technical insurance expertise, global reach, and our combined proven track records of project execution in emerging and developing markets. The upcoming paper will provide a clear pathway to embed insurance within development finance strategies and support countries in strengthening their long-term resilience. We are united by a shared commitment to move beyond theory to implementation.”

Pepukaye Bardouille, Director, Bridgetown Initiative and Special Adviser on Climate Resilience, Barbados Prime Minister’s Office, said:

“For many vulnerable nations, climate disasters are not rare events. They are a lived reality, disrupting lives, economies, and hard-won development gains. The Bridgetown Initiative is working to redesign the international financial system to serve the needs of those on the frontline of the climate crisis. Insurance has a critical role to play in that transformation. This partnership with the IDF brings together tremendous expertise to co-create practical, scalable and affordable solutions that support resilience-building. We are excited to present a more holistic view of IFA reform through this partnership.”

Katherine Stodulka, Programme Director, Quadrature Climate Foundation, said:

“The new climate reality demands bold leadership and a sharper focus on proven tools that can build resilience and accelerate our response to escalating climate risks. Tackling this challenge requires catalytic partnerships across the financial system. This is why we support the collaboration between the Insurance Development Forum and the Bridgetown Initiative. We welcome the upcoming paper and the next phase of implementation, which will help strengthen resilience in countries and communities that are most exposed to climate impacts and often underserved by traditional financial mechanisms to manage risk.”

Caribbean News

Whitehouse Students and Farmers Cultivate a Greener Future Through RE-LEAF Action with Sandals Foundation

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Whitehouse, Westmoreland, Jamaica – June 11, 2026 — As part of activities commemorating World Environment Day, 28 students from New Hope Primary and Kings Primary School joined farmers, Forestry Department representatives, environmental wardens, and the Sandals Foundation to plant fruit trees in Whitehouse, Westmoreland. The activity forms part of the Foundation’s support of Jamaica’s national RE-LEAF (Reforestation, Ecological Enhancement and Landscape Framework) Initiative. As part of its commitment, the philanthropic organization has distributed 360 fruit trees to schools and farmers to aid landscape restoration and food security efforts.

A variety of food trees including breadfruit, ackee, jackfruit, mango, avocado, soursop, and Otaheite apple were distributed to Culloden Early Childhood Institution, Whitehouse Basic School, New Hope Primary School, Kings Primary School, Petersville Primary School, and Petersville Early Childhood Institution as well as to members of the Westmoreland Organic Farmers Association to increase access to locally grown produce.

Heidi Clarke, Executive Director of the Sandals Foundation, said the Organization’s choice of trees was a deliberate effort to build the resilience of the communities. “We chose fruit trees because in addition to helping to restore green space sand biodiversity, they sustain a community’s food security. ”

Recently, Whitehouse farmers joined students of Kings and New Hope Primary School students, Forestry Department representatives, and Sandals Foundation environmental wardens to plant 20 trees – demonstrating a community approach to their landscape restoration efforts.

“Reforestation is about much more than planting trees,” said Georgia Scarlett, Environmental Manager at the Sandals Foundation. ” It is also about ensuring future generations understand their role in protecting the natural resources that sustain our communities. By placing fruit trees in schools and farming communities, we are creating opportunities for learning, nourishment, and long-term environmental stewardship.

For Caribbean communities facing growing pressure on food systems, green spaces, and natural resources, the project offers a practical model for local action. By placing fruit trees in schools and farming communities, the initiative gives residents more than seedlings. It gives them a direct role in producing food, restoring shade, and protecting the environment their children will inherit.

PHOTO CAPTION:

L-R: Dian Holgate, representative of the Forestry Department; Georgia Scarlett, Environmental Project Manager of the Sandals Foundation; Kings Primary School teacher O’Shea Lawrence; farmer, Barbara Stewart, and students Chloe Robinson and Reshaina Samuels of Kings Primary School participate in a tree-planting activity in Whitehouse, Westmoreland. The initiative formed part of the RE-LEAF programme, which distributed 360 fruit trees to schools and farmers across the community.

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Bahamas News

CDB Leadership Passes to Belize as Region Eyes New Financing Partnerships  

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By Deandrea Hamilton

 

The Bahamas, June 9, 2026 – The Caribbean Development Bank’s annual gathering may have concluded in The Bahamas, but attention is already turning to Belize as leadership of the institution’s Board of Governors officially changed hands.

At the close of the 56th Annual Meeting in Nassau, outgoing Chairman and CDB Governor for The Bahamas, Michael Halkitis, formally transferred the chairmanship to Belize’s Dr. Hon. Osmond Martinez, continuing the Bank’s tradition of rotating leadership among its regional shareholders.

The handover capped a week of discussions focused on financing development in an increasingly uncertain global environment and strengthening the Caribbean’s ability to withstand economic and climate-related shocks.

One of the meeting’s most closely watched conversations centered on how multilateral development banks can better support vulnerable Small Island Developing States.

During the President’s Chat, titled Financing the Future: MDB Strategies for Uncertain Times, CDB President Daniel Best joined leaders from the OPEC Fund, the Central American Bank for Economic Integration and the Fund for Responding to Loss and Damage to discuss expanding development finance and building resilience.

OPEC Fund President Dr. Abdulhamid Alkhalifa emphasized that development institutions must move beyond responding to crises and instead help countries prepare for them.

“The real test is whether we can help countries move from strategy to implementation, and from implementation to results,” Alkhalifa said.

The discussions reflected a growing regional push for innovative financing solutions as Caribbean nations continue to confront climate vulnerability, infrastructure demands and economic uncertainty.

Beyond discussions on financing and resilience, the Annual Meeting also featured youth engagement activities, including the Youth FIRE Forum, where young Caribbean leaders participated in conversations about innovation, entrepreneurship, leadership and the future of regional development. Senior government officials, development professionals and youth delegates exchanged ideas on the challenges and opportunities facing the next generation, reinforcing a recurring message throughout the conference: that investments made today must ultimately improve opportunities for Caribbean youth tomorrow.

That theme was echoed by Bahamas Prime Minister Philip Davis, who used the opening ceremony to challenge regional leaders to invest in future generations.

“We must invest in the one asset that no agency can ever downgrade, and that no storm can ever wash away: the mind of a Caribbean child,” Davis told delegates.

With Belize now assuming the chairmanship, regional leaders say the focus remains on transforming ideas discussed in Nassau into tangible results for Caribbean people.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Caribbean News

Beaches Turks and Caicos and Sandals Foundation share educational material with primary school in Providenciales

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PROVIDENCIALES, Turks & Caicos Islands: May 29, 2026 – Beaches Turks and Caicos Resort and the Sandals Foundation, recently brought smiles and inspiration to students at the Community Christian Academy through a meaningful Reading Road Trip and educational material donation initiative.

The outreach effort, which forms part of the Sandals Foundation’s ongoing commitment to education and community development across the Turks and Caicos Islands, saw team members and volunteers engaging directly with students while delivering a wide range of essential school supplies.

Among the donated items were books, footballs, volleyballs, pencils, rulers, sharpeners, Bibles, Christian literature, sun glasses, writing pads, educational cue cards, erasers, markers, crayons, glue, scissors, paper clips, coloured chalk, and pens. The contributions were carefully curated to support both academic learning and extracurricular development for students at the institution.

A highlight of the day’s activities was an interactive reading session with the kindergarten and grade one classes, where volunteers shared stories and encouraged early literacy in a fun and engaging environment. The young students responded with enthusiasm, creating a lively and memorable experience for all involved.

Travel Advisor Renee Rice, who participated in the initiative alongside her family, expressed heartfelt appreciation for the opportunity to give back. “We are happy for this experience as we partnered with the Sandals Foundation and Beaches Turks and Caicos Resort in sharing in the development of education in the Turks and Caicos Islands,” Rice said. Her family actively participated in reading sessions and interacting with the students, further enhancing the impact of the visit.

Principal Krystal Vincent welcomed the initiative and emphasized the importance of such partnerships in advancing the school’s mission. “These educational materials will go a far way, and we are happy for this relationship that we have established with the Sandals Foundation and Beaches Turks and Caicos Resort in helping to support the growth of the students and the institution,” Vincent noted.

Chairman of the School Board, Pastor Bradley Handfield, also expressed gratitude during the presentation of the items. He commended the donors for their continued investment in the community and their willingness to support the nation’s youth. Pastor Handfield highlighted the significance of corporate and philanthropic partnerships in strengthening educational foundations across the islands.

The Reading Road Trip initiative is part of a broader effort by the Sandals Foundation to promote literacy and provide access to educational resources for children throughout the Caribbean.

Beaches Turks and Caicos Resort has long been an active partner in community outreach, consistently supporting initiatives that uplift local communities and empower young people. Through collaborations such as this, the resort continues to demonstrate its commitment to social responsibility and sustainable development.

The visit to Community Christian Academy stands as a testament to the power of partnership and the positive impact that can be achieved when organizations and individuals come together with a shared purpose. For the students, the day was not only about receiving supplies but also about feeling encouraged, valued, and inspired to pursue their educational journeys with confidence.

As the Sandals Foundation and Beaches Turks and Caicos Resort continue to expand their outreach efforts, initiatives like the Reading Road Trip remain vital in shaping the future of education in the Turks and Caicos Islands—one child, one book, and one meaningful connection at a time.

Photo Caption:

The Sandals foundation is a registered charity in Jamaica with the Department of Co-operatives and Friendly Societies, a CRA registered charity in Canada, a 501(c)(3) nonprofit organization in the United States and a registered charity with the Charity Commission for England & Wales that was created in March 2009 to continue and expand upon the philanthropic work that Sandals Resorts International has undertaken.  It is the culmination of over four decades of dedication to playing a meaningful role in the lives of the communities where we operate across the Caribbean. The Sandals Foundation funds projects in three core areas: education, community and the environment. One hundred percent of the monies contributed by the general public to the Sandals Foundation go directly to programs benefiting the Caribbean community. To learn more about the Sandals Foundation, visit online at www.sandalsfoundation.org or follow us on Facebook, and Instagram.

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