Addressing a Small States Forum (SSF), held on the margins of the International Monetary Fund (IMF)/World Bank Annual Meetings in Washington, DC on the weekend, Minister Burke said that “partnerships will ensure we overcome the challenges we face.”
The Grenadian Minister was among a panel of speakers who were discussing their most pressing challenges but focusing on development prospects in the context of the current economic environment and emerging global issues, including climate change and food and energy security.
Speaking on the theme “Adapting to Global Challenges: Climate Change and Food and Energy Security”, Mr Burke outlined key vulnerabilities and their negative impact on the development of small states.
He reiterated the objectives of food security and the constraints faced by small States, some with limited availability of arable land for food crops.
Minister Burke said that the high cost of energy relative to such macro-economic indicators as export earnings, with energy costs being disproportionately high in this regard.
He made the link between climate change as a global phenomenon and catastrophic weather events like Hurricane Ivan which damaged more than 90 per cent of Grenada’s housing stock at an estimated cost of US$900 million (200% of GDP).
Minister Burke highlighted key issues which should inform the approach by the World Bank in treating with these vulnerabilities, including long-term strategic planning based on detailed modelling of climate impact; Mainstreaming disaster risk management, climate resilience and weather proofing, and food security and energy security into a unified and holistic development plan; and Institutional and capacity-building at regional and national levels to receive, manage, implement and monitor climate-related finance and their associated programs and projects.
The Forum was chaired by Winston Dookeran, Minister of Finance, Trinidad and Tobago and other speakers included Minister Burke; Robert Zoellick, President, World Bank Group; Danny Faure, Vice-President and Minister of Finance, Seychelles; and senior representatives of the European Union and the World Bank.
The Finance Minister led Grenada’s delegation to the 2010 Annual Meetings of the IMF and World Bank Group in Washington, DC. The delegation also included Permanent Secretary Timothy Antoine, Ambassador Gillian Bristol and Director of the Office of Private Sector Development within the Ministry of Finance, Christopher DeRiggs.
No comments:
Post a Comment