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Wednesday, October 5, 2022
HomeBusinessDevelopment banks should assist region in managing risks

Development banks should assist region in managing risks

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by Marlon Madden (Barbados Today) Multilateral development finance institutions are being urged to do more to assist Barbados and other Caribbean countries manage the devastating impact from a range of external challenges.

Former President of the Caribbean Development Bank (CDB) Dr Warren Smith issued the call on Thursday when he also drew attention to a number of emerging difficulties for the region including higher commodity prices and an increase in poverty as a result of the war in Ukraine, continued supply chain disruptions leading to increased food insecurity and a reduction in the availability of grants and concessionary resources from developed countries.

He explained that it was therefore necessary for multilateral development banks to employ a number of strategies to help the region manage those risks.

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