The United Nations (UN) and the Caribbean Development Bank (CDB) have moved to further strengthen ties and deepen the partnership between the two institutions.
This with the signing of an agreement, which outlines cooperation in four critical areas – economic diversification, innovative finance, resilience and vulnerability and data and knowledge management.
The letter of intent will formalise the Bank’s relationship with the UN and focus on key areas for development. The priority sub-sectors highlighted under the new agreement are digitisation, the blue economy, regional trade and support for MSMEs, innovative and financing, aligning the financial flows to the region with the 2030 agenda, building resilience and addressing vulnerabilities, and data and knowledge generation.
During the signing CDB President, Dr Hyginus “Gene” Leon expressed a need for stronger collaboration among development agencies.
He noted “the rationale for partnerships is not that we need to collaborate, the rationale is simply that none of us on our own can overcome the task ahead and if we are committed to making change there is no other choice but to partner”.
Meanwhile UN Resident Coordinator for Barbados and the Eastern Caribbean, Mr Didier Trebucq is pleased that both agencies formalised a commitment to partner more closely to achieve the Sustainable Development Goals (SDGs).
He says with only eight years left to achieve the SDGs in the context of multiple layers of crisis, it is clear progress can only be made by working together.
Mr. Roberto Valent, UN Regional Director for the UN Development Coordination Office in Latin America and the Caribbean also spoke at the signing ceremony, confirming the UN´s commitment to the partnership. He stated that the agreement allows the agencies to work with even greater focus and efficiency.
Both CDB and the UN are leading institutions supporting the achievement of the SDGs. Both entities are currently seeking to increase finance to fund the region’s development through novel solutions and new partnerships to close the existing gaps to the SDGs and further accelerate sustainable development.
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