GROS ISLET, St Lucia — Amid rising climate change concerns, the increased frequency of natural disasters, continued economic hardships,and the need for adequate and sustainable financing, the Caribbean Development Bank (CDB) has challenged countries to press forward with their development agenda in order to secure meaningful growth for the region.

CDB President Dr Gene Leon, while highlighting some key areas of focus targeting the need for an increase in the volume of climate and disaster risk financing, private sector mobilisation, and the development of policies to drive fit-for purpose investment, also called for collaborative advocacy as a measure to foster a paradigm shift in international financing systems, while building resilience to adopt better measures for sustainable development.

“I want to underscore that collaboration and collective action are essential for our region’s success. CDB is only as strong and as effective as our members and their collective voices.

“I strongly urge that now is the time to make those voices louder as we advocate for a paradigm shift to advance the resilient prosperity of our region,” he said in his remarks at the closing ceremony of the bank’s 53rd annual general meeting.

The president further reminded the board of governors and borrowing member countries (BMCs) that it is through collective action that the institution will ultimately become empowered to deliver on its mandate.

“Governors, let us continue to collectively signal our commitment and resolve to build resilient prosperity through our partnerships. The strength of the region lies not in its individual countries, but in the unity of its people. It is through collaboration and working together that we can unlock the true potential of our region,” he stated.

Similarly outgoing chairman, Prime Minister Philip J Pierre, in also underscoring the power of urgency and collective response, championed the need for states to continue to partner on working together to fire up the developmental objectives of the region.

“We cannot wait till the stars are perfectly aligned — we must do what we can while we can,” he said as he passed the baton to Harjit S Sajan, governor of Canada, who is primed to become the new chairman of the board and will preside over next year’s 54th staging which will also take place in Canada.