Roseau, June 15, 2022 (GLOBE NEWSWIRE) -- Los Angeles, US: Kenneth Darroux, Minister of Foreign Affairs, International Business and Diaspora Relations represented the Commonwealth of Dominica at the ninth Summit of the Americas which was themed "Building a Sustainable, Resilient, and Equitable Future" and held in Los Angeles, California, from 6 – 10 June 2022.
Darroux addressed the economic and climate-related challenges faced by Small Island Developing States (SIDS) and stated that the Summit provides member states with the opportunity to seek solutions to several developmental and social issues faced by the region.
Touching on a number of issues, Darroux highlighted how the pandemic severely compromised health systems and resulted in economic and social hardships for people. He also talked about the ongoing conflict in Europe and its negative impact on food and fuel prices.
The continued threat of climate change and its adverse effects on the economic landscape of Small Island Developing States (SIDS) was the main focus of the Minister.
"Tropical storms and Hurricanes are severely hampering our ability to grow our economy. Global warming has increased the intensity and frequency of the storms that we get in Dominica – Tropical Storm Erika and Hurricane Maria alone impacted our GDP by 320%," stated Darroux.
"The beginning of June marks the beginning of the official Atlantic Hurricane Season - a six-month period marked by anxiety due to the inclement weather events in the Atlantic which have devastating effects on our people and economy," added Darroux.
The Minister stated that Small Island Developing States contend with social and economic inequalities, rising unemployment, limited access to concessional development finances and public health challenges. He said the common challenges faced by SIDS highlight the importance of urgent and increased partnerships among member states.
Foreign Minister Darroux said there is a need for inclusion and unity of purpose towards the pathway of peace, safety and security.
He also welcomed the commitment of the US to address issues such as food security, access to financing and energy security in the region.
Climate change poses significant threats to countries like Dominica; hurricanes and tropical storms have been more frequent in the last two decades. After Hurricane Maria (2017) and Tropical Storm Erika (2015), the government has been highly vocal about climate change; it has been calling on more developed counterparts to seek urgent action in order to save the Small Island Developing States (SIDS).
The majority of Dominica's vital infrastructure is located near the coastlines, rising sea levels, flooding and storms are a constant threat.
Due to the rising threats of climate change, the government is now developing resilient climate infrastructures; all houses, health centres, and schools are being constructed using high-quality materials. Dominica also aims to become the world's first climate-resilient country – a pledge made at the United Nations shortly after Hurricane Maria ravaged and destroyed over 90% of the infrastructure in the country.
Dominica, like many other Small Island Developing States (SIDS), is at the forefront of the war against climate change and the government has been providing climate-resilient houses, hospitals, and health care facilities, and hurricane shelters in all communities island-wide.
In May 2020, the Cabinet of Dominica approved the Disaster Resilience Strategy as an Annex to the Climate Resilience and Recovery Plan (CRRP).
As per the government, the goal of the newly adopted "Disaster Resilience Strategy" is to give a comprehensive plan that includes the cost, policies as well as financing for natural disaster resilience.
The country is achieving its goals by using the funds generated by the Citizenship by Investment Programme. Launched in 1993, it is one of the longest-running programmes in the world, offering citizenship to foreigners in exchange for a financial contribution to the country's economy. The CBI Programme of Dominica is recognized for its rigorous due diligence and is regarded as the world's best. CBI Index, published by the Financial Times PWM Magazine, has crowned it the world's number one for five consecutive years.
An investor can choose from two options: the Economic Diversification Fund (EDF) or Real Estate.
