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Friday, June 14, 2024
HomeBusinessDevelopment banks should assist region in managing risks

Development banks should assist region in managing risks


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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