Presentation delivered by Dr. Wm. Warren Smith, President, CDB during his Opening Statement at CDB's 48th Annual Meeting of the Board of Governors in Grenada.

1. THIS IS A TITLE SLIDE
Presenter
Presentation Venue / Location
Date

2. PERSPECTIVES ON CARIBBEAN RESILIENCE

3. Climate change is everybody’s business
Climate action is every country’s responsibility

4. LESSONS
ON
BUILDING
RESILIENCE

5. 2014
comprehensive
programme of
structural reforms
40% of proceeds
from CIP as
contingency
financing
Debt restructuring
agreements
GRENADA

6. Our Region must
embrace a
comprehensive
package of
resilience-building
measures
• Macro-economic
management and the creation
of fiscal buffers
• Climate-proofing of our
critical economic infrastructure
• The creation of a resilient and
reliable inter-island
transportation network for the
Eastern Caribbean

7. Failure to respond
comprehensively and
expeditiously to these
challenges will put
paid to our vision of
building prosperous
societies and halving
abject poverty by
2025

8. Priorities for achieving resilience
1
2
3
Accelerate the adoption
of energy efficiency
measures and shift to
renewable energy Improve food security
and create strong
agricultural linkages to
tourism and other critical
foreign exchange
earning sectorsEfficient, resilient and
reliable regional
aviation system

9. ENERGY

10. New technological advances in
renewables such as solar and
wind present new opportunities

11. Energy
Taking advantage of
these opportunities, as
well as the wide-scale
adoption of energy
efficiency measures, will
assist in laying the basis
for economic resilience

12. Less than 15% of the Region’s
energy supply is produced using
renewable energy

13. Energy
Electricity systems are highly vulnerable to hurricanes, and
other extreme weather events

14. Energy
01
02
03
04
What does building
resilience into our
energy systems cost?
How does this
impact the cost of
electricity to the
public sector and
other consumers?
Can we afford to do
this?
Can we afford NOT
to do this?
How much are we
willing to pay for
one kWh?

15. Building resilience into solar PV plant construction
Dismantling and storing PV panels
Transferring risk through insurance

16. Building resilience in the energy sector• Investing in climate mitigation projects
• Mobilising appropriately priced financing
• Energy audits of government buildings
• Geothermal development in the Eastern
Caribbean
• Energy-efficient street lighting

17. AGRICULTURE

18. Agriculture and economic activity
Sector accounts
for 10% of
output in Belize,
Dominica and
Suriname
In Guyana, as
much as 33%

19. Agriculture
With few
exceptions,
agricultural
output has fallen
consistently since
the early 1990s.

20. AgricultureFarmers are among
the most vulnerable
groups in our
societies, often
residing in poor rural
communities
Climate change has
greatly exacerbated
the vulnerabilities
faced by these
communities

21. Agriculture
Climate change also brings
protracted periods of drought
Region accounts for seven of the
top 36 most water-stressed states
globally.
Since the 1980s, at least 10% of
our land area has been affected
annually by severe drought
conditions.

22. The Caribbean is an integral
part of the global economy.

23. 1
2
3
4
Emphasis should be placed on agriculture
becoming more competitive
Maximising contributions to economic growth;
and responding to issues of food security
Growing the export market
Creating stronger linkages with the tourism
and other foreign exchange earning sectors

24. If the Caribbean is to build resilience in agriculture,
then substantial investments in
changing agricultural practices
and adapting to climate change
are required.

25. Research to identify the most
suitable crops and
production methods
designed to address specific
climate vulnerabilities and
post-storm recovery efforts
must be intensified.
Farmers need financing for
upgrading irrigation systems,
moisture conservation, water
use efficiencies and drainage
in flood prone areas

26. Transforming the agricultural sector
• Produce hurricane-resistant crops
• Develop stronger links between the agriculture,
tourism and manufacturing sectors
• Promote intra-regional production sharing

27. Work must be accelerated on parametric or
other types of insurance products for
rapid recovery and rehabilitation of the
agriculture sector.

28. A resilient
agriculture
sector can be
a vital pillar
of national
economic
resilience.

29. • Support for the rehabilitation and climate
proofing of rural roads and drainage
systems
• Incorporating climate-resilient measures
into off-farm irrigation systems
• Training farmers in irrigation system
operations and management
Essex Valley Agriculture Project
• Upgraded irrigation systems powered by
renewable energy with electric storage
• Storage for crops
• Agricultural extension services to farmers
• Assistance with marketing

31. Air connectivity is essential to
the economic integration and
growth of the small island
states of the Region.

32. • Number of annual round-
trip journeys by Eastern
Caribbean residents to the
USA increased by more
than 200% to 250,000.
• Caribbean-originating
round-trips to the Eastern
Caribbean decreased by
30% to 420,000.

33. Findings: CDB Study
• In the Eastern Caribbean: operational inefficiencies within the
principal air carrier and issues in the business environment
• High and regressive taxes and airport-related charges
• Regulations relating to security, border control, and other
issues
• Arrangements for funding the principal air carrier, its
governance framework and the industrial relations
environment

34. There is no sound justification for the
regional airline industry remaining in this
situation.
Its survivability is under constant threat.

35. “The incidence and impact of taxation on air transport in the
region should be properly studied and proposals made on
financially viable changes to taxation to make regional air
travel more affordable without hurting government revenues.”
Heads of Government of CARICOM
July 2017

36. Increases in arrivals
5% to 18%
St. Kitts and Nevis: 65,000
Saint Lucia: 140,000
Barbados: 200,000
Over 20-year period
• removal of airline
taxes
• reduction in airport
charges

37. 60% jump in
intra-regional visitor
numbers by 2023
• lower taxes
• liberalised regional
market
• increased airport
efficiency
• recapitalised and
restructured regional
airline industry

38. CDB
Eastern
Caribbean
countries
Shareholder
Governments

40. To be winners, we must plan to win, prepare to
win and expect to win

42. We will win!