WASHINGTON, USA – Speaking at the 7th Regular Meeting of the Inter-American Committee on Sustainable Development (CIDS) at the Organization of American States, Antigua and Barbuda’s ambassador Sir Ronald Sanders called for financing terms that match vulnerability, clear delivery timelines with partners, and a short quarterly public report to track results.
“Sustainable development, for small states, is practical: keeping electricity on after storms; ensuring there are schools for children to attend; rebuilding infrastructure to keep the economy running; and making sure debt payments leave fiscal space to provide medical services, keep people employed, and pay pensions,” Sir Ronald said. “We cannot meet these needs with vague promises and slow money.”
Sir Ronald outlined three immediate priorities:
- Financing terms that fit risk. Standardise 30-year maturities, five-year grace periods, and automatic payment pauses after disasters in loans to high-vulnerability states. Base access to grants and low-cost loans on vulnerability, not income averages. He noted the UN General Assembly’s acceptance of the Multidimensional Vulnerability Index (MVI) and urged lenders to embed it in their rules.
- Partner commitments on the record. By June 30, 2026, each partner should publicly state how much funding they will provide for Caribbean projects, and how much of it will be grants versus low-cost loans. He again urged creation of a dedicated fund for Caribbean transport and basic services—ports, runways, inter-island ferries, water systems, and small local power systems.
- Quarterly public accountability. CIDS should publish a short quarterly report tracking: coastal-protection coverage; days to restore water and power after Category-5 events; renewables share, and diesel import spend relative to GDP; inter-island logistics costs; debt service vs. revenue and the concessional share; private capital mobilized per public dollar; independently verified mangrove/reef restoration; and days from disaster declaration to first insurance or support payment.
Ambassador Sanders also called for the creation of a small OAS project-preparation team on coastal defences and water security, as well as a public timeline Internet page listing who is responsible for each commitment and the deadline to be reviewed at board meetings of the multilateral banks.
“Provide resilience financing up front. Make pausing loan repayments at times of disaster a condition of loans,” Sir Ronald concluded.
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