Different approach to concessionary funding needed

Barbados continues to advocate on the international stage for a different approach to concessionary funding for small island developing states.

The latest appeal was made during the 41st Session of the ACPEU/EU Joint Parliamentary Assembly at the European Parliament in Strasbourg, France on Enhancing the Resilience of Small Island Developing States Against Climate Change and Natural Disasters.

Representing Barbados was St. James North M.P. Edmund Hinkson.

He noted that Barbados being assessed as a medium to high income earning nation on a per capita basis for about the last 3 decades by international agencies has resulted in a regrettable policy to deny Barbados the capacity to access concessionary funding from developmental agencies.

Mr. Hinkson says this policy does not take into account the island’s vulnerability.

While noting that Barbados is working to improve its resilience, he stressed that the probability of being affected by natural disasters and adverse weather conditions has increased in recent times due to climate change.

As such Mr. Hinkson called for international development and lending institutions, while assessing Barbados eligibility for financing and developmental and technical assistance, to take into account the island’s significant and tremendous vulnerability as a nation and people on an annual basis to natural and other disasters and adversities.  

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