Prime Minister, the Hon. Philip Davis addressed the XIII Annual Consultation with Caribbean Governors of the Inter-American Development Bank (IDB) on Monday.

Mr. Davis spoke to the group about access to climate financing and development funding.  He said, “my message remains the same.  As a start we must have a serious discussion about the removal of the 30% cap on policy based loans currently set by IDB.  In the era of climate change given the unprecedented scale of our needs it is time to rethink the percentages of funds dedicated to policy based loans that go on to fund our developmental needs and agendas.”

The Prime Minister stressed the urgent need to address current climate related challenges.  “It’s time to take swift action to drive progress toward a more sustainable, climate resilient and prosperous future for the Caribbean.  I’m certain that my regional colleagues are in agreement with me on this point as we sure many of the same priorities and are committed to overcoming them together,” Mr. Davis said.

The IDB Caribbean Governors meeting ends on February 3rd.