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PM urges World Bank to change climate crisis financing

November 10, 2022

Prime Minister Mia Amor Mottley says the International Monetary Fund (IMF) is listening to the pleas of Small Island Developing States (SIDS), but she stresses Barbados is continuing to press for the World Bank to follow suit.

Ms. Mottley was at the time addressing young people attending the COP27 Children and Youth Pavilion at the United Nations Climate Change Conference going on in Sharm El-Sheikh, Egypt.

Barbados Prime Minister has shed light on strides made by the IMF, more recently, by introducing the Resilience and Sustainability Trust, which provides affordable, long-term financing to help build resilience against economic risks associated with climate change.

She says she does not want the country to be de-graduated as it seeks to borrow from the World Bank.

Ms. Mottley also met with President of Venezuela, Nicolás Maduro to review the progress of their binational alliance in the context of COP27.

During the meeting Venezuela committed to deepening the relationship it maintains with the Government and people of Barbados.

Mr. Maduro and Ms. Mottley also took the opportunity to put on the table the contributions that can be made together to face the climate crisis.

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