Published 27 May 2017
Canada’s new international assistance policy will
put women and girls at the heart of its new approach.
BASSETERRE, ST. KITTS, May 27th 2017 – Canada has announced it will soon introduce a new international assistance policy that will focus on protecting and promoting the human dignity of the poorest and most vulnerable.
Dean Beyea, Canada’s Temporary Alternate Governor told the 47th Annual Board of Governors Meeting of the Caribbean Development Bank (CDB) in the Turks and Caicos that Canada’s international assistance will support the 2030 Agenda for Sustainable Development by putting women and girls at the heart of its new approach.
“We will also aim to promote environmental sustainability by delivering on our international commitment to address climate change and supporting green economic growth, including areas such as clean energy, responsible water management, climate resilience and disaster risk reduction,” said Beyea, who is also , Director of the International Finance and Development Division of the Department of Finance Canada and Canada’s Deputy to the International Development Association, Canada.
He told delegates that while countries of the Caribbean have, on average, recorded modest positive growth in recent years, many continue to struggle to reign in fiscal deficits.
“As a group, the Caribbean has lagged behind the wider set of Small States as well as the global average in terms of economic growth. Given this outlook, Canada believes that the Bank’s main mission of reducing poverty and catalysing inclusive and sustainable growth remains relevant and essential. Indeed, the CDB has a proven track record of reducing poverty and advancing the regional agenda for more inclusive and sustainable development,” said Beyea, who added that Canada is proud to support the CDB in its ongoing fight to improve the lives of the region’s poorest and most vulnerable.
“This is why we recently renewed our significant contribution to the CDB’s Special Development Fund (SDF). The loans and grants of the SDF have produced critical outcomes in areas of social and economic development, women’s empowerment and climate resilience. They have also enabled greater CDB engagement in community-based development, through the Basic Needs Trust Fund, and a growing portfolio of activities in Haiti,” he said.
The Canadian official said Canada welcomed the SDF’s increased focus on development effectiveness and management for results, as well as its commitment to continually improving operational efficiency, which complements overall progress on internal governance.
“Canada wishes to congratulate the CDB on the substantial progress it has made in strengthening its financial policies, its internal governance framework and the effectiveness of its overall operations over the past few years informed by the findings of the Bank’s Office of Independent Evaluation. We see this reflected in the Bank’s achievement of record approvals and disbursements in 2016, a substantial achievement that more importantly we hope leads to record development results for the CDB’s Borrowing Member Countries,” said Mr. Beyea.
Canada also welcomed CDB’s plans to further engage the private sector in its Borrowing Member Countries, as outlined in its draft Private Sector Development Policy and Strategy.
“The draft strategy highlights a number of important areas such as micro, small and medium enterprise development,
Public-private partnerships for infrastructure, and improving the environment for business, in which the
CDB can make a meaningful contribution. We strongly encourage linking these efforts to the agenda for women’s empowerment and climate resilience,” he said.
