Caribbean countries have been told they need to focus their efforts on improving project planning and implementation capacity in light of the risks posed by natural disasters and the intensification of climate change.
Deputy Managing Director of the International Monetary Fund (IMF), Tao Zhang, said grant financing, “remains small compared to the needs” of the region. He said that the focus of donors should also shift from supporting recovery to supporting preparedness.
Zhang, who arrived here as part of a visit to the Caribbean, said preparing for a disaster can make a huge difference” since it is more effective than responding after the event.
“Preparation not only reduces the immediate impact. Our research shows that, over time, it helps boost growth and private investment and reduce emigration and brain drain.”
Prime Minister Dr Keith Mitchell said “as a small island developing state vulnerable to the effects of climate change, it is important for us to accelerate climate-smart development policies and programmes, by increasing our investment in climate-resilient infrastructure”