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US$100b price tag

CDB: That’s the cost for regional development

Kendy

US$100b price tag
Dr Hyginus ‘Gene’ Leon. (GP)

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Caribbean countries need about US$100 billion over the next ten years to become resilient, transform economically and achieve sustainable development.

However, in outlining this major financing needed to achieve food, energy and water security while reducing poverty, president of the Caribbean Development Bank (CDB) Dr Gene Leon cautioned that the effort would be compromised if the region did not fix its longstanding implementation problems.

The economist was speaking yesterday here at The Ritz Hotel in Turks and Caicos during the official opening of the CDB’s 52nd annual meeting.

Leon said that across the institution’s borrowing member countries (BMCs), including Barbados, his organisation estimated that between 2023 and 2030 there was a need for sustainable energy investments of at least US$40 billion, water and sanitation (US$22 billion), transportation (US$11.5 billion), agriculture and food security (US$13 billion), and digital transformation (US$12 billion). (SC)

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