OECS Business Focus 8 by AMS St. Lucia

Caribbean Alliance Insurance

OECSBusinessFocus Jan / Mar

No.8

O E C S

Jan/Mar 2018

CONTENTS FEATURE 49. Celebrating 10 Years of Innovation 50. Payouts To Date 52. Increasing Capacity For Disaster Risk Reduction 54. CCRIF Interns at Work 56. Small Grants Programme 57. Regional Internship Programme 58. Scholarship Programme 59. CCRIF- UWI Scholarship Programme 60. Journey Through The Years 2007-2017 66. CCRIF Snapshot 67. CCRIF Testimonials

33. 5 Million Dollar Funding To Support ClimateSmart Agriculture In Grenada 34. CDB Approves US$29M To Rehabilitate Infrastructure Damaged By Hurricane Irma In Antigua And Barbuda 35. ECCB Governor Says Hurricane Reversed Significant Strides In 2017 35. Massy United Insurance To Pay Out More Than US$250 Million 36. CARILEC Members Deliver Record Breaking Disaster Support Response

6. OECS Briefs 8. From Crisis to Resilience: A New Development Paradigm Environmental Focus 10. COP23: Alliance of Small Island States (AOSIS) Declaration of Action 12. Address by Prime Minister of Saint Lucia, Hon. Allen Chastanet, at the Joint High Level Segment at COP23 13. Prime Minister Gaston Browne’s UN Address 14. Hon. Roosevelt Skerrit, Prime Minister of the Commonwealth of Dominica, Addresses the Joint High Level Segment at COP23 16. 10 Years of Providing Catastrophe Risk Insurance In the Caribbean The Case of CCRIF SPC 22. EU Pledges $350 Million To Caribbean, Amid Debate Over Aid For Islands 24. Study Reveals Rich Nations Far Behind on US$100B Climate Pledge 25. CDB Joins Global Partnership To Combat Climate Change 26. First Meeting Between IAEA and Caribbean Community Climate Change Centre Takes Place 28. Embracing Opportunities Out Of Difficulties: Building Back, A Chance To Introduce Clean Energy 29. Nevis Set to Complete Drilling of Geothermal Test Wells in Early 2018 29. Caribbean Tourism Organization and CDB Partner with Ministry of Tourism of St. Kitts to Host Climate Smart Tourism Forum 30. BVI launches Flood-Resilient SMART Communities Project 31. CDB Approves Funding To Restore Electricity And Build Climate Resilience In Anguilla 32. CDB Supports Training To Help Dominicans Build Back Better OECSBusinessFocus

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OECS Commission 38. OECS iLAND Resilience Project Launches First Ever UX UI E-Newsletter in the SubRegion 40. Elevating the OECS Agriculture and Fisheries Sector: An Opportunity For A Different Future 42. Fort-de-France Declaration on Health: A commitment to Regional Solidarity in the OECS 43. Health in the OECS, Our Reliance on Resilience 44. OECS Prepares For ‘Cloud for Development (C4D)’ Pilot 45. OECS 30 Under 30 Award Winner: How Johanan Dujon Built An Agricultural Biotech Company in St Lucia Governance Guru 46. A Wish List for Caribbean Directors Money Matters 68. Republic Bank Group Year-End Profits Up 5.8% 68. Jamaica’s NCB Group Makes Record Profits 69. Sir Richard Branson Meets with IMF on Behalf of BVI 69. Plan Approved To Accelerate Implementation Of CSME 70. Five Caribbean Countries to Benefit From EU Funding 71. A More Transparent Balance Sheet Economy & Trade 72. Michael Lee Chin, “Caribbean is a Fertile Environment For Serious Investors” 73. Baron Foods Establishes Manufacturing Plant in Trinidad 74. CDB Issues Grant Funding of £14.4 million to Develop Port at Little Bay, Montserrat 75. CDB Approves US$76 million for St Kitts and Nevis

76. IDB Launches ECD Innovation Fund 77. The Caribbean Association of Banks Breaks New Ground in its 44th Conference in the Dominican Republic 78. CDB, CARICOM Seeking Opportunities For Greater Collaboration 79. CARICOM and Cuba Sign Second Trade Pact 80. IMF Commits to Help Caribbean Build Resilience 80. CDB Implements Revised Education And Training Policy And Strategy 81. St Kitts and Russian Federation Agree to Historic Visa Waiver 81. Grenada and Russia Sign Visa Waiver Agreement and Discuss Technical Cooperation Business Tech 82. Caribbean Courts and Lawyers Embrace Technology for Improved Justice Delivery 84. LiLAC to Take Over Columbus/CWC Communications 85. Trinidad’s Bevil Wooding Honoured for ICT Initiatives in the Caribbean 86. Caribbean Courts and Lawyers Embrace Technology for Improved Justice Delivery 87. Caribbean Computer Experts To Tackle Cyber Security At CARIBNOG 15 Tourism Focus 88. Grenada Named 2017 Caribbean Destination of the Year 89. Caribbean Tourism Continues Record Growth 90. Expedia Reports Increased Searches For Caribbean Travel 91. Caribbean Hotel Insurance Rates Increasing Up to 40 % 92. St. Lucia to Invest US$5 Million in OECS Competitive Tourism Project 93. Grenada Attracting More Luxury Cruise Brands 94. New Park Hyatt St Kitts Opens 95. St Kitts and Nevis’ Big Plans for Yachting In The Know 96. Seven New Professorships Appointed at UWI 98. Healthy Caribbean Coalition (HCC) Wins Award for Excellence in Civil Society Action 98. Microsoft Appoints New Country Manager for T&T 99. Events 100. Major Moves 104. Advertiser’s Index www.oecsbusinessfocus.com

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Sagicor Life Inc is rated â&#x20AC;&#x153;A-â&#x20AC;? (Excellent) by A.M. Best Rating Company. OECSBusinessFocus Jan / Mar

2018 â&#x20AC;&#x201C; A Year of Rebuilding and Resilience! Regional Governments and Caribbean people rallied to the cause in offering aid and humanitarian support to our sister islands in their hour of need. The mobilization of relief by Governments, the private sector and citizens may have been short term, but the demands for rebuilding and reconstruction is a long term effort.

Lokesh Singh

Publisher / Managing Director

What a year 2017 has been for the people and economies of the Eastern Caribbean and wider region. The catastrophic impact of the two Category 5 Hurricanes Irma and Maria left behind a ravaged and devastated region with demands for major funding, aid and relief supplies from neighbouring islands, friendly countries and agencies regionally and internationally. Anguilla, Barbuda, the British Virgin Islands, Dominica, Guadeloupe, St Kitts-Nevis and St Maarten were some of the islands hardest hit by these two monster storms with Barbuda being declared uninhabitable and almost every home and national infrastructure in Dominica being lost or seriously damaged.

In these scenarios, the issue of Climate Change and the real images of its negative impact on Small Island Developing States were beamed to the world. The efforts of our leaders in the aftermath became the focus of the world with their presentations at the UN, COP 23 Conference and the Paris Donors Conference calls for financing to support reconstruction and redevelopment. Our regional financial institutions led by the Caribbean Development Bank (CDB) and the East Caribbean Central Bank (ECCB) acted with urgency in the mobilization of badly needed financial resources.

Editorial Management Team: Lokesh Singh | Dr. Didacus Jules | Ramon Peachey Graphic Design: Tannel George | Carlisle Searles Graphic Design - Special Feature: CCRIF Advertising Sales: Cennette Flavien - cennetteamsslu@gmail.com Cleopatra Jules - cleopatraamsslu@gmail.com Webmaster: Advertising & Marketing Services

OECSBusinessFocus

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The experiences of 2017 call for a total review of our building codes and the need to shift to more renewable sources of energy to safeguard against such occurrences in the future. More important is the humanitarian spirit of caring for each other exhibited by our people in times of need. We trust that you will enjoy the content of Issue 8 of the OECS Business Focus Magazine and we look forward to your comments.

Happy Reading. Lokesh Singh Managing Editor / Publisher

We also need to recognize the efforts and importance of the Caribbean Catastrophe Credit Risk Insurance Facility (CCRIF) for its speedy settlement and payment of insurance claims generating millions of dollars as compensation being paid to many of the affected countries.

OECS Business Focus Magazine is published Quarterly by Advertising & Marketing Services Limited (AMS), Saint Lucia, in association with the Organisation of Eastern Caribbean States (OECS). Publisher / Managing Director: Lokesh Singh - lokesh@amsslu@gmail.com

This is a model regional institution which has been delivering yeoman service to the region and we are pleased to carry CCRIF as our Special Feature in this edition as they celebrate their 10th Anniversary.

Editorial, Advertising, Design & Production: Advertising & Marketing Services P.O. Box 2003, Castries, Saint Lucia

Tel: (758) 453-1149; Fax: (758) 453-1290 email: ams@candw.lc www.amsstlucia.com www.oecsbusinessfocus.com OECS Business Focus welcomes contributions from professionals or writers in specialized fields or areas of interest. Reproduction of any material contained herein without written approval, constitutes a violation of copyright. OECS Business Focus reserves the right to determine the content of the publication.

On The Cover: Isaac Anthony - CEO CCRIF SFC Celebrating 10 Years

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St. Kitts Investment Promotion Agency

OECSBusinessFocus Jan / Mar

OECS BRIEFS BUSINESS FOCUS

OECS Briefs

Nevis Elects New Premier

and has since written extensively on the Constitution of Saint Lucia. In making the announcement, Prime Minister Chastanet profusely thanked former Governor General Dame Pearlette Louisy for her service. Mr. Cenac took the Oath of Office at an Installation Ceremony on Friday January 12th 2018. ¤ Prior to those two appointments, she worked as Registrar of the Supreme Court in Barbados, and held the post of resident Ambassador to Venezuela, Colombia, Chile and Brazil. Madame Justice Mason holds membership in several organisations, including the Commonwealth Secretariat Arbitral Tribunal, United Kingdom ¤

Judge Set to Become Trinidad & Tobago’s First Female President

Saint Lucia Appoints New Governor General The people of Nevis have re-elected the ruling Concerned Citizen’s Movement (CCM) for a second consecutive term winning four of the five seats up for grabs. Madam Justice Paula-Mae Weekes was named as President Designate of Trinidad & Tobago following a brief meeting with Prime Minister Dr Keith Rowley and Opposition Leader Kamla Persad-Bissessar at the Diplomatic Centre, St Ann’s, Trinidad.

The new leader of the CCM, Mark Brantley, has been sworn in as the new Premier of the Nevis Island Administration (NIA) Government replacing former Premier Vance Amory who has since retired from active politics. ¤

Barbados Swears in 8th Governor General Barbados’s eighth Governor-General Madame Justice Sandra Mason was sworn into office on January 8, 2018 during an installation ceremony at the Senate Chamber of the Barbados Parliament and will now become Dame Sandra Mason. She replaces Sir Elliot Belgrave, who retired on July 1, 2017. The Governor-General has served as Justice of Appeal at the Supreme Court in Barbados, and High Court Judge of the Eastern Caribbean Supreme Court. OECSBusinessFocus

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Prime Minister Honourable Allen Chastanet has since announced that Her Majesty The Queen was pleased to approve the appointment of Mr. Emmanuel Neville Cenac as the new Governor General of Saint Lucia, effective 1st January 2018. Mr. Cenac is a former elected MP for the constituency of Laborie, has previously served as Saint Lucia’s Minister for Foreign Affairs and also served as President of the Senate. He was intricately involved in the movement for Windward Island unity. Mr. Cenac, an elder statesman, highly respected in the legal fraternity, retired from active political service in 2006

Persad-Bissessar opted not to put forward a choice of nominee, and the Opposition confirmed approval for Government’s sole presidential nominee Madam Justice Paula-Mae Weekes to become T&T’s sixth and first female President by affixing four signatures to the nomination form hence Madame Justice Weeks is unopposed as the candidate for President. Persad- Bissessar said once the nomination was unopposed “there will be no vote and the President will be declared as duly elected under the Constitution. As of now, Madam Justice Weekes is the President-designate of T&T.” ¤

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OECS BRIEFS Antigua & Barbuda Appoints New Minister of Tourism

In his official remarks as President, Minister Nicholas pledged his commitment to support the CTU in the execution of its mission to promote the development of the ICT sector in the region. ¤

Mexico Appoints New Ambassdor to the OECS

Barabdos Appoints New Central Bank Governor

Hon. Charles Fernandez has been recently officially appointed as Antigua &Barbuda’s new Minister of Tourism by Prime Minister Gaston Browne. He replaces Hon Asot Michael who previously held this position since the Gaston Browne led ALP Government took office in 2014. Fernandez currently serves as Minister of Foreign Affairs and Immigration and has now been assigned the added portfolio of Tourism. ¤

Antigua & Barbuda Minister Named New CTU President

Cleviston Haynes has been appointed as Governor of the Central Bank of Barbados. The new Governor has over 37 years’ experience in central banking, with emphasis on macroeconomic policy and bank regulation. He has acted as Governor of the Central Bank from February 24, 2017, after he took over from Dr DeLisle Worrell. Haynes started his career at the Bank as a research trainee in 1980, and held various positions there, including Advisor to former Governors Calvin Springer, Winston Cox, and Dr Marion Williams. He was Deputy Governor from February 2009 until early this year.

His Excellency Oscar Esparza-Vargas is the new Ambassador of the United Mexican States to the Organisation of Eastern Caribbean States (OECS). Ambassador Oscar Esparza-Vargas, presented his credentials to the Director General of the OECS, Dr. Didacus Jules on Wednesday, 20 December 2017. In presenting his credentials H.E. Oscar Esparza-Vargas reiterated the deep friendship and commitment of Mexico to bilateral and multilateral solidarity with the Eastern Caribbean States, as well as to the ideals of integration between them embodied and implemented by the OECS. ¤

Guyana Accredits New Ambassador to CARICOM

His tenure at the Central Bank was briefly interrupted from 1987 to 1989, when he served as technical assistant to the Canadian executive director at the International Monetary Fund. Hon Melford Nicholas – Antigua & Barbuda’s Minister of Information, Broadcasting Telecommunications and Information Technology was unanimously elected as the new President of the Caribbean Telecommunications Union. His election took place in the Bahamas at the recently held CTU General Conference of Ministers on Tuesday 28th November, during the 20th General Conference of Ministers.

Haynes attended the University of the West Indies, Cave Hill Campus, where he received a Bachelor of Science in Economics. He later went on to the University of Western Ontario and earned a Master of Arts in Economics. ¤

Ambassador Charlene Phoenix Guyana’s new Ambassador to Caricom. Phoenix, who served in the past as Head of the CARICOM Unit in Guyana’s Minister of Foreign Affairs. Phoenix has now joined the CARICOM Committee of Ambassadors, a body which forms part of the community’s governance structure and whish has as its principal focus the advancement of the integration process. ¤ OECSBusinessFocus Jan / Mar

OECS COMMISSION

From Crisis to Resilience: A New Development Paradigm

From Crisis to Resilience: A New Development Paradigm Remarks by Director General of the OECS, Dr. Didacus Jules at the CARICOM-UN High Level Pledging Conference Mr. Chairman, distinguished Heads of Government, Secretary General of CARICOM and distinguished delegates. Since the path breaking publication in 1973 by Schumacher the notion of small being beautiful achieved a certain prominence but the complexity of what being small means has not been fully explored in all of its ramifications. The existential challenge of smallness is the contradiction of opportunity coexisting with vulnerability. On the one hand, smallness provides the scale ideal for beta testing innovation and integrated ecological solutions to the dilemmas of human civilization. Small size makes experimentation manageable on all fronts, whether they be cost or efficiency, allowing the latitude for mid-stream adjustments and changes. But producing scalable solutions. On the other hand, at the core of the DNA of smallness is the reality of vulnerability. The vulnerability of small states is inversely proportional to size because the mathematics of disaster does not move the human conscience as it does when struck on a larger stage. This is what has brought us here today but we would fail to appreciate the true magnitude of the pain of that hurricane season if we do not scale the experience to globally significant figures. Six (6) category 3 to 5 hurricanes traversing the region in 2017 represent a terrifying escalation of catastrophe in our small space; Ten Caribbean countries including five OECS member states directly and profoundly impacted by the most dangerous of these hurricanes. That we are small does not make us insignificant; that we are insular does not make us isolated. The size and scale of our destruction, damage and loss in this season of pain may not be readily appreciated by those who are bigger and richer. But perhaps if we scale up our loss to your parameters you will grasp the comparative magnitude of our pain:

OECSBusinessFocus

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29 lives were lost in Dominica with a population of 70,000. Every life matters but if this hurricane was visited on India, the corresponding scale of lives lost would have been 3.2 million souls! More than 30 persons are still missing from Hurricane Maria. Scaled to Japan, this would have been the equivalent of 292,100 missing persons. The estimated damage and losses in Dominica 1.3 billion US dollars or 200% percent of GDP, would equate to US$5.6 trillion had this been the United Kingdom. Every one of the 1,400 inhabitants of Barbuda had to be evacuated. Had this storm hit Florida with the same results as Barbuda, this could have meant the evacuation of all 20.6 million Florida residents. Maybe we are overdramatizing the reality but human tragedy on any scale is tragedy despite the numbers, nationalities, or ethnicities. The narrative would have been different had the same pain been inflicted with equal intensity and scale in any more populous, or wealthier jurisdiction. Our challenge is not only climate-change fueled hurricanes but also in the longer term, other equally damaging implications such as sea level rise, coral bleaching, severe drought etc. All of the regional organizations present: CARICOM as well as OECS, stand ready and able to fulfil their responsibilities within their respective remits to changing the Caribbean development narrative. For this event to be successful Mr. Chairman, it needs to embrace the commitments and the aspirations that our leaders have been articulating â&#x20AC;&#x201C; the creation of resilient states. This is not simply about infrastructural reconstruction to higher and better standards; it is ultimately about this crisis giving birth to a new development paradigm in which the promise of smallness provides a light to a new path of human civilization that is respectful of nature. A new development pathway that is sustainable, equitable, resilient, that ushers in the new era of human civilization. Â¤

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Delta Petroleum

OECSBusinessFocus Jan / Mar

ENVIRONMENTAL FOCUS

COP23: Alliance of Small Island States (AOSIS) Declaration of Action

COP23: Alliance of Small Island States (AOSIS) Declaration of Action On the occasion of the 23rd session of the Conference of the Parties to the UN Framework Convention on Climate Change (UNFCCC COP 23 Fiji) in Bonn, on 16 November 2017, we the Ministers and high-level representatives of Alliance of Small Island States (AOSIS), congratulate the Republic of Fiji on assuming the Presidency of this 23rd Conference and on being the first Small Island Developing State to host this critically important international event, and we express appreciation to the Federal Republic of Germany for its facilitation and accommodation. Recognizing the central elements of the Fiji Vision for the Presidency, which promise to deliver transparency and inclusiveness for all, to advance implementation of the Paris Agreement and to accelerate climate action for vulnerable societies drawing on Small Island Developing States’ (SIDS) experiences, Noting the particular vulnerability of SIDS to the impacts of climate change, Concerned by the devastation already inflicted on SIDS by climate change impacts at current levels of warming, including intensifying OECSBusinessFocus

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extreme weather events, sea level rise, and ocean acidification, Alarmed by the clear scientific evidence that unless warming is kept below 1.5°C, SIDS will face further intolerable and existential threats, Aware of the need to rapidly build resilience, and stressing the urgent need for support in this regard to address adaptation as well as loss and damage, Concerned by the difficulties that SIDS continue to experience in navigating the modalities for accessing international climate finance facilities, And recalling Article 9 para 9 of the Paris Agreement which calls for “efficient access to financial resources through simplified approval procedures and enhanced readiness support for developing country Parties, in particular for the least developed countries and small island developing States, in the context of their national climate strategies and plans,” Reiterating long-standing concerns about the unfair classification and graduation of developing countries, in particular SIDS, based on GDP. www.oecsbusinessfocus.com

Noting with appreciation the ambitious Nationally Determined Contributions submitted by SIDS and their commitment to implementing them,

Call for establishment of a fast-track mechanism for resilience building and development in SIDS;

Further noting the need for adequate support for the implementation of these Nationally Determined Contributions,

Call for rolling back of the graduation criteria based on GDP, to realistically reflect the special circumstances of SIDS in the context of impacts of climate change;

Recognizing the urgency for action, brought into focus by the unprecedented impacts of the 2017 Hurricane Season in the Caribbean,

Call for increased financial, technological and capacity support for the implementation of Nationally Determined Contributions of SIDS;

Recognizing also that climate impacts in all SIDS are becoming more frequent and more severe,

Further call for increased attention to loss and damage and the need to:

Further recognizing the importance of seeing increased mitigation ambition in the NDCs to be communicated by 2020,

build capacities to comprehensively assess risks;

We the members of the Alliance of Small Island States (AOSIS) who are party to the United Nations Framework Convention on Climate Change (UNFCCC), the Kyoto Protocol and the Paris Agreement, further: Endorse and support the call of the SIDS for the financing of resilience building and development; Endorse and support the continued championing of the effort to limit global temperature rise to 1.5Â°C above pre-industrial levels; Call for the simplification of the modalities for accessing the international climate finance mechanisms;

develop and implement approaches to address slow onset events; assess and enhance scientific research on loss and damage; and access finance for loss and damage, including by creating a link to the Financial Mechanism of the Convention. We reiterate the special circumstance and needs arising from the adverse impacts of climate change on SIDS and support the coalition that calls for harnessing much needed assistance for the mitigation and adaptation efforts of SIDS. We further reiterate the urgent need for accelerating action on the climate agenda. The impacts of recent disasters, particularly in Caribbean and Pacific SIDS, punctuate the urgency of now. Â¤

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Grenada Steel Works Ltd.

OECSBusinessFocus Jan / Mar

ENVIRONMENTAL FOCUS

Address by Prime Minister of Saint Lucia, Hon. Allen Chastanet, at the Joint High Level Segment at COP23 Address by Prime Minister of Saint Lucia, Hon. Allen Chastanet, at the Joint High Level Segment at COP23

Your excellencies, this summer, the Caribbean has confronted the realities of climate change. We have experienced first-hand, what climate change looks like – Irma, José, Maria. Not only have these storms decimated our countries and our economies, but they have also left our citizens and governments with a feeling of fear and helplessness … that the next hurricane season is only nine months away … and that this process is far too slow for us. What we have also realised is that time is against us. Climate change has the ability to annihilate my country overnight, as hurricanes are becoming more severe, causing ever more devastating impact. The fallout from these events is massive. Lives are lost, infrastructure destroyed. Big, medium and small businesses are hit as well … which translates to loss of opportunity; losses that we couldn’t have imagined, but that we would have to suffer again and again in the future. Displacement following such climate-induced disasters delivers another blow to our communities because those who leave are those who can afford to leave – community leaders, business people, teachers, sports coaches, and once they are forced to leave, it takes a long time for them to come back … and an even longer time for the country to regain that expertise … if ever, as might be the case for some low lying island nations amongst us. The Small Island Developing States have understood that we have run out of time and that drastic action must be taken immediately … because nobody has found a way to ask for a pause until we, as a global community, can get our act together. I call on developed countries to help SIDS help themselves. We cannot wait till 2020 to see finance to deal with the emergency situations, build resilience in our countries as far as possible, and the loss and damage that is already occurring. Our people have proven to be and will continue to be resilient. But here, on the international level, I say to you: all it takes is a pen; a pen to create the policies to prioritise the resources; OECSBusinessFocus

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a pen to change the protocols used to disperse funds; a pen to change macroeconomic targets, realising that we cannot invest in resilience without putting our counties into deeper economic volatility. This means that the frameworks we have under this process must be sensitive to the urgent needs of SIDS … and not simply wrapped up in bureaucracy. There is clear scientific evidence that unless warming is kept below 1.5°C, SIDS will face further intolerable and existential threats. This is why we fought for 1.5°C in the Paris Agreement. Already, at 2°C, impacts will be catastrophic. But building resilience to climate impacts that will occur if we allow the planet to warm to 3.2°C is absolutely unimaginable … because this is where we are heading with the Paris Agreement pledges on the table, with deadly implications for our nations. I call on all governments to take urgent action to help SIDS deal with the climate change impacts – the most pressing issue of our time … as alluded to by Chancellor Merkel and President Macron. I also want to recognise UK, Canada, China, Japan and others, for their efforts. This is not a time for politics. Despite the differences between China and Tiawan, and given the humanitarian impact of climate change, everyone deserves a voice. Let me remind you…climate change has no prejudice; it does not discriminate; whether you are rich or poor, big or small. We, in the small islands, are doing everything we can to show leadership in our transition to a low carbon economy. We are doing our part … but our part does not allow us to control our own destiny. Extraordinary times call for extraordinary measures. I want to acknowledge and recognise all the countries who are here again to show their solidarity and the importance they put on climate change. I also want to thank the leaders of the developed countries that took time to come here to give us hope. But the most important words came from the young man from Fiji – Timoci – where he gave us a very clear description of how climate change has affected his community and more importantly, his family … so attending these meetings is no longer sufficient. SIDS and least developed countries must unite and use the power of our voice within the UN over the next two years to support individuals and countries that are prepared to hear the voices of Timoci and who appreciate the sense of helplessness and fear that we have as leaders as to what the future holds for us. Let us, collectively, show solidarity with SIDS and particularly vulnerable developing countries, so that this island COP can go down in history as being the COP where the world demonstrated that it cared and where it was willing to do the right thing…no more excuses, no more bureaucracy…just urgent action-NOW. ¤

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Prime Minister Gaston Browne’s UN Address

Prime Minister Gaston Browne’s UN Address Mr. President, I stand before you as perhaps the newest Head of Government at this 69th session of the United Nations General Assembly. The political party that I have the honour to lead was democratically and overwhelmingly elected as the government of Antigua and Barbuda just three months ago. I am probably also among the youngest of the Heads of Government at this distinguished gathering. But though I may be relatively young and my government new, I have been a steadfast believer in the worth of the United Nations from the moment of my adult consciousness. The idea that there could be a world without a machinery for leaders to gather in one place, with the single purpose of improving the lives of all mankind, conjures images of chaos, of carnage, and of catastrophe; too frightening to contemplate. And, while some may argue that the United Nations has not always lived up to its noble purposes, and chaos, carnage and catastrophe have scarred our one planet, I am profoundly aware that without the United Nations these vicious wounds would have been significantly worse. But even as I rejoice in the existence of the United Nations, I also lament that its largest and most powerful nations have too often used their privileged positions to weaken the authority of the organisation in advancement of their own narrow interests. It has also been a grave sadness that powerful states have also,

in the past, circumvented this body in pursuit of their national goals even in defiance of the solidarity of the larger family of nations. For these reasons, my government and the people of Antigua and Barbuda strongly support reform of this organisation. We would like to see reform that democratizes the United Nations to give a greater voice to those countries such as mine that are marginalised in decision making because we are considered too small to make a difference. We would also welcome comprehensive reform in the UN Security Council that ends the anachronism of vetoes by five permanent members – a system that has no legitimacy in fairness and in global balance; and a system that has often paralyzed the Security Council from acting in a manner that would command worldwide support and acclamation. Mr. President, it is pardoxical that for these nations, particularly those that most fiercely advocate respect for democracy and the rule of law – to implement these principles at home but decline to implement them abroad. Respect for the rule of law and for the democratic principle that gives nations rights that are as inalienable as the rights of the individual in powerful states, must become integral to the process and systems of governance by which the world’s affairs are managed… To read the full transcript, please visit the OECS Pressroom at: https://pressroom.oecs.org ¤

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OECSBusinessFocus Jan / Mar

ENVIRONMENTAL FOCUS

Hon. Roosevelt Skerrit, Prime Minister of the Commonwealth of Dominica, Addresses the Joint High Level Segment at COP23

Hon. Roosevelt Skerrit, Prime Minister of the Commonwealth of Dominica, addresses the Joint High Level Segment at COP23 Today, Dominica stands on the front lineâ&#x20AC;Śof the war on climate change. At 5pm on September 17th out of the mid-Atlantic Maria emerged as a Category 1 hurricane with wind speeds of just over 120 kph. Within twenty-four hours this monster storm had moved from a Category 1 to a Category 5 hurricane with wind speeds in excess of 270kph. Hurricane Maria was reported to be one of the most rapidly intensifying storms in recent history. Our citizens barely had time to prepare before the ferocious winds and incessant rain began assaulting our nature island. As night fell we hunkered down to await its onslaught. Some of us were forced to flee our homes in the dark of night seeking safe shelter, buffeted and battered, by the heavy rains and powerful winds. When dawn broke the scenes of utter devastation across this once lush green island, were heartbreaking. In some areas where houses once stood there lay mounds of dirt and debris others had their roofs blown off; Landslides scarred, the landscape trees were uprooted or laid bare and flood waters raged. All utilities were non-functional. OECSBusinessFocus

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Assessments conducted by the World Bank Group and other international agencies indicate that 90% of buildings have either been damaged or destroyed, over 224% of GDP was wiped out with major damage sustained to our agriculture, tourism and housing sectors. Public infrastructure was severely impacted and our forests decimated. Two months later 95% of the country remains without electricity, our water systems are compromised, and many citizens remain displaced and in shelters. This, Ladies and Gentlemen, is the reality of climate change. Within a few hours an entire country was brought to its knees by the forces of nature. Two years ago we convened in a similar setting and signed on to the Paris accord. We pledged as an international community to take positive proactive steps to stem the tide of climate change. The developed world pledged funds to be made available for the mitigation and adaptation of the harmful effects of climate change. We know the potential impact of climate change and of countries that may disappear. How many of the countries that continue to pollute the planet had to suffer a loss of two hundred and twenty four percent of their GDP this year? www.oecsbusinessfocus.com

Distinguished ladies and gentlemen I present to you today that our countries remain under threat. To ensure our very existence the world must do better. We argued at Cop 21 for 1.5° to stay alive – a commitment was made to 2° but by all assessments we will not even achieve that goal. Ladies and Gentlemen, not enough is being done to ensure that we effectively mitigate the warming of our planet. How many of our vulnerable small island developing states have been able to access green climate funds to make us more climate resilient? What mechanism is there for us to be able to access emergency funds when facing a disaster like that caused by Maria? We have been put on the front line by others. We were the guardians of nature. We have not contributed to global warming. Sixty percent of Dominica is covered by protected rain forests and has been so long before climate change. Our marine environment is similarly protected. We are on the front line and this is not a metaphorical war, …or a metaphorical line…it is one in which we bury the dead, console the grieving, nurse our wounds and call out for reinforcements. And we grow weary, …waiting for the world to hear our cry. We hear that now is the time to act. We read headlines of funds set aside. We smell the sweet fragrance of agreements, promises and commitments. But we grow weary waiting. Ladies and Gentlemen, despite the hardship we face we have decided to raise our standard. We have publicly committed to the international community that we will rebuild ourselves as the first fully climate resilient nation in the Anthropocene. Our small island will shine the torch for others to follow.

Maria destroyed our education and health sectors. The World Bank Report supports that US$90m is needed to rebuild and make our schools, hospitals and clinics climate resilient. We call on the global community to partner with us to help us take on that challenge. Maria ripped apart our water pipes. We need US$56m to get running water again. US$37m is needed to establish an entire system of climate resilient agriculture irrigation and food production. Dominica needs US$15m to complete an investment in geothermal that would provide a significant boost to its renewable energy sector. We are determined to restore our rainforests and protect our blue horizons. We have grasped the moment to be the change we want in this world. This isn’t a rash promise…it is what we are struggling to do TODAY. But battered as we are we stand before you today awake and tall to the challenge. We call for your assistance, support and partnership. We ask you to not allow climate change to be reduced to a cultural war fought from armchairs. We ask you not to allow the sceptics to sneer saying ‘I told you COP was all hot air’ and that ‘nothing real will change’. I urge you today not to betray the Paris Agreement! Operationalise Paris. Give meaning to Paris…Now! Not on paper…but here in this forum! Stand with us.

But, we grow weary.

Pledge today to help fund the first climate resilient nation.

The international community has an opportunity now to truly demonstrate its commitment to battling the effects of climate change. We need you to partner with us to build a truly climate resilient nation a nation adapted to the new reality of fiercer, more frequent and more ferocious storms.

Help us to rebuild our homes, schools, pipes, and hospitals,…in a climate resilient way.

Ladies and gentlemen, last evening’s high level event provided the platform where a selection of non-party stake holders championed the critical message of accelerated climate action and how best to bridge the gap between non-party actors and negotiations. We call on all stakeholders to help us to rebuild better and smarter. Maria that winged messenger of climate change destroyed thousands of homes. US$200m is required to rebuild in more suitable locations and to a standard that makes them climate resilient. We call on stakeholders to partner with us to rebuild.

Join us. Join us. Do not leave us alone to fight this war. Not yesterday, not tomorrow but today. Right now is the moment of truth. Will it be the unraveling of Paris or the foundation of Paris? That is the simple choice you get to make today. It is a choice that will be measured by the degree of meaningful assistance you give to those suffering damage and loss today; yet fighting and fighting…on the front line. ¤

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10 Years of Providing Catastrophe Risk Insurance In the Caribbean The Case od CCRIF SPC

Isaac Anthony, Chief Executive Officer,

CCRIF – A Caribbean Solution to Risk Financing for Disasters

ountries in the Caribbean face a number of primary natural hazard risks, particularly earthquake and hurricane risks, and to a lesser extent volcanic risks in certain areas. Secondary risks such as those from flooding and landslides, storm surge and wave impacts, and tsunamis also pose significant threat. CCRIF’s 16 member governments in the Caribbean all have intrinsic economic, environmental and social vulnerability to natural hazards due to a limited natural resource base, a high level of dependence of major economic sectors on the natural environment, and fragile ecosystems. Hurricane Ivan in 2004 and the level of devastation wrought throughout the Caribbean led to the formation of CCRIF. For that event, both Grenada and the Cayman Islands suffered losses close to 200% of their national annual GDP and a further seven countries in the region also were severely impacted. Regional losses totaled over US$6 billion for the event - reducing economic growth prospects and perpetuating a cycle of poverty. Hurricane Ivan is considered a watershed event in the Caribbean as following that hurricane, the Caribbean Community (CARICOM) Heads of Government held an emergency meeting to discuss the growing impacts of natural hazards on the region and requested assistance

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CCRIF SPC

from the World Bank in developing a risk financing mechanism for Caribbean governments. The result of this was the formation of CCRIF, which represents a paradigm shift in the way governments manage risk. During CCRIF’s 10 years in existence (2007 to 2017), the facility has demonstrated that disaster risk insurance can effectively provide a level of financial protection for countries vulnerable to tropical cyclones, earthquakes and excess rainfall. Left unchecked, the economic impact of disasters can generate large losses that disrupt long-run economic growth trajectories. To some extent, one can compare natural disasters to financial crises – both are typically exogenous events that represent covariate shocks across a country and households. Economic damages from natural hazards can jeopardize the health of national economies at a level comparable to or greater than that of financial crises. Natural disasters also destroy human and physical capital stocks of countries – something that financial crises do not.

Demystifying CCRIF and Ex-Ante Risk Financing CCRIF is the world’s first multi-country risk pool providing parametric insurance and was designed to limit the financial impact of catastrophic hurricanes and earthquakes by quickly providing short-term www.oecsbusinessfocus.com

liquidity when a policy is triggered. In fact, the successful launch and ongoing operations of CCRIF have received worldwide attention since the first policies were issued in 2007. Currently, CCRIF provides parametric insurance coverage against tropical cyclones, earthquakes and excess rainfall to 16 Caribbean and 1 Central American government. CCRIF is an example of a risk transfer mechanism and is part of a suite of tools for ex-ante risk financing. Ex-ante financing mechanisms are becoming increasingly important and a key and indispensable component of economic policy as countries seek to grow their economies, reduce poverty and become internationally competitive. Currently in the Caribbean the main ex-ante financing option utilized or readily available is CCRIF. Other examples of ex-ante financing instruments include dedicated reserve funds, contingent credit facilities, traditional or indemnity insurance, catastrophe bonds and catastrophe risk insurance. An-ante financing instruments are different from expost financing instruments, with the latter not requiring advance planning. Examples of ex-post financing instruments include budget reallocation, domestic credit, external credit, tax increases and donor assistance. Importantly, expost financing instruments also take longer to mobilize than ex-ante financing instruments. One of the most compelling reasons for governments in developing countries to engage in pre-disaster financing or utilize ex-ante financing instruments is that these countries have a higher propensity for post-disaster resource deficits. Governments of developing countries typically must divert from their budgets or from already disbursed development loans to finance post-disaster expenses, also relying on new loans and donations from the international community. Historically, these sources of post-disaster finance too frequently prove inadequate to fund a timely humanitarian response. For example, less than two percent of US$5.3 billion in assistance promised at an aid conference two months after Haiti’s 2010 earthquake disaster was actually delivered.

CCRIF’s parametric insurance products for earthquakes, tropical cyclones – or hurricanes – and excess rainfall are insurance contracts that make payments based on the intensity of an event (for example, hurricane wind speed, earthquake intensity, volume of rainfall) and the amount of loss calculated in a pre-agreed model caused by these events. Losses are estimated using a model based on wind speed and storm surge (tropical cyclones), ground shaking (earthquakes) or amount of rainfall (excess rainfall). Hazard levels are then applied to pre-defined government exposure to produce a loss estimate. Payout amounts increase with the level of modelled loss, up to a pre-defined coverage limit. Therefore payouts can be made very quickly after a hazard event. This is different from traditional or indemnity insurance settlements that require an onthe-ground assessment of individual losses after an event before a payment can be made – a process that can often take months or even years. A key activity underlying the application of the CCRIF model and development of policies is the preparation of Country Risk Profiles. CCRIF prepares these profiles for tropical cyclones and earthquakes as well as for rainfall for member countries. The profiles provide detailed information on the catastrophe risk modelling platforms which are used to underpin CCRIF policies. These profiles also provide an outline of the earthquake, tropical cyclone and rainfall characteristics and risks for the country as well as economic loss information used by the models. The risk profiles provide the basis for CCRIF to discuss coverage options with each country individually and to underwrite country policies once coverage levels have been agreed. Therefore, considering disaster risk in fiscal policy provides an efficient way for countries to financially protect themselves against events that cannot be prevented. Integrated disaster risk financing strategies allow countries to increase their financial response capacity in the aftermath of disasters and reduce their economic and fiscal burden. Governments need to be encouraged to develop, make provision OECSBusinessFocus Jan / Mar

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for, or participate in integrated disaster risk financing strategies as part of their overall risk management strategy. It also is important to highlight work undertaken by the World Bank which showed that joining CCRIF was the most cost-effective option for delivering low-cost highquality catastrophe risk insurance, with the purpose of financing emergency costs as countries can save up to half of their total premium cost by being a member of CCRIF compared to if they approached the reinsurance and capital markets on their own.

CCRIF – An Example of a Humanitarian Response following Disasters Since the inception of CCRIF in 2007, 36 payouts have been made totaling a little over US$130 million to 13 of our member governments. Governments have used CCRIF payouts for humanitarian support, e.g. to provide food and shelter for displaced persons; immediate recovery e.g. clearing silty rivers, unblocking major roads, stabilizing drinking water plants and repairs to critical infrastructure such as bridges and roads; stabilization of government processes; provision of civilian security; purchase of medication; assistance to affected economic sectors such as the agriculture sector and capitalization of a special recovery fund. A well-known example of CCRIF’s response was in Haiti after the devastating earthquake in January 2010. CCRIF made a payout of almost US$8 million (almost 20 times the country’s earthquake premium of $385,500) to the Government after the earthquake. It could be said that CCRIF’s US$8 million was minimal compared to the damage caused. However, CCRIF’s payout – made 14 days after the event – constituted around 50% of the TOTAL aid the Government received in the first 10 weeks in the form of direct liquidity, and the funds were important to enable the Government to pay critical salaries in the early days after the earthquake. The importance of the rapidity of the CCRIF payout is therefore quite clear! Following the passage of Hurricane Matthew in 2016 the OECSBusinessFocus

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Government of Haiti reported that it was able to help 1.4 million persons affected by the hurricane with about 50% of the CCRIF payout which totalled US$23.4 million. Some of the uses of those funds included: provision of food and shelter to at least 1.4 million persons who were adversely affected and displaced by Mathew; the purchase of medication especially for children; unblocking of main roads by the Ministry of Public Works; support to the agricultural sector; the purchase of tarpaulins for houses – some 18,000 houses in the South were without roofs; and the replacement of roofs for schools, churches and court houses. Also, when Saint Lucia received a payout after Matthew triggered its excess rainfall policy, the Government was able to use the payout of US$3.7 million to strengthen and rebuild the agriculture sector that was severely impacted by the rains associated with the hurricane. It is important to note that CCRIF was never designed to be a complete and comprehensive disaster response strategy for its members or to cover all losses on the ground. Following a natural disaster, the provision of immediate access to liquidity provided by the facility post disaster allows governments to reduce their budget volatility and to guarantee sufficient capital for emergency relief such as providing humanitarian assistance to the affected population and restoring critical infrastructure and homes, thereby reducing post-disaster resource deficits. Providing quick liquidity to affected countries after a disaster was therefore the main rationale for the establishment of CCRIF in 2007. So whilst CCRIF payouts are small compared to the overwhelming cost of rebuilding, all recipient governments have expressed appreciation for the rapid infusion of liquidity, which they are able to use to address immediate priorities.

The 2017 Hurricane Season – CCRIF’s Response The 2017 Atlantic Hurricane Season was the seventh most active season in the historical record dating www.oecsbusinessfocus.com

to 1851 and was the most active season since 2005, producing 17 named storms of which 10 became hurricanes including six major hurricanes (Category 3, 4 or 5). The importance of catastrophe risk financing was recently highlighted during September 2017 following the passage of Hurricanes Irma and Maria – when CCRIF made 13 payouts totalling US$55 million to 9 of its members whose policies – for tropical cyclones and/ or excess rainfall – were triggered. For example, US$20 million went to Dominica, US$15 million went to the Turks and Caicos Islands and almost US$7 million each to Anguilla and Antigua and Barbuda, all within 14 days of the event – one of our key customer propositions or principles.

Could CCRIF be a Solution to a Changing Climate? CCRIF acknowledges the vulnerabilities of its member countries to natural hazards and understands that these vulnerabilities are going to be exacerbated by the impacts of climate change. The vulnerability of CARICOM countries to climate events is already evidenced by the increasing impact of hurricanes, tropical storms, flooding and drought in the region. Thus, as the impacts of climate change on small island and coastal states increase, demand for additional parametric insurance products also will increase. CCRIF is always seeking to meet members’ needs by, for example, developing new products. This year, we will complete the development of the CCRIF drought risk model that responds to the need for a swift financial response to the loss of crop yield caused by exceptionally dry years. The purpose of the model is to identify agricultural drought events (i.e., droughts affecting crop production) occurring in Caribbean and Central American countries, and assessing the resulting losses due to reduced yield. Having both drought and rainfall models, CCRIF will be able to respond to an expressed need of members to introduce a parametric agriculture product. The need for an agriculture product was brought to our attention by the Caribbean Development Bank on behalf of their members and we have been in discussions since 2015 with the Bank.

Currently, CCRIF is engaged in an initiative of the United States Department of State, World Bank, Food and Agriculture Organization (FAO) and others to develop parametric insurance products to promote the resilience of the fisheries sector in the Caribbean against increasing climate change-related disaster risks. This initiative, the Caribbean Oceans and Aquaculture Sustainability Facility (COAST), also seeks to incentivize the uptake of climate-smart food security best practices within the fisheries sector in Caribbean nations to simultaneously improve food security as well as coastal resilience in the face of a changing climate. Therefore, it is not only a risk transfer mechanism but also a way to increase long-term climate resilience. Additionally, CCRIF has started discussions about offering insurance coverage to national utilities – water and wastewater, electricity, telecommunications – where currently, insurance is either too expensive or nonexistent. CCRIF believes that these sectors should consider risk transfer as part of their own sustainability. Such parametric insurance to the sector would enable cost-effective protection of highly vulnerable but critical infrastructure – including water treatment plants, pipelines, wastewater treatment facilities (including treatment ponds), pump stations, water storage facilities etc. With respect to microinsurance, between 2010 and 2014 we worked with the Munich Climate Insurance Initiative on a project to develop new microinsurance products to complement its sovereign products. This project known as the Climate Risk Adaptation and Insurance in the Caribbean project, developed two innovative microinsurance products – the Livelihood Protection Policy (LPP), which is available to low-income individuals for coverage against extreme weather events, specifically high winds and heavy rainfall; and the Loan Portfolio Cover (LPC), designed for lending institutions such as credit unions and insurance companies. The LPP in particular is beneficial for low-income individuals such as small farmers, fisherfolk, seasonal tourism workers and construction workers who may be displaced during rehabilitation activities after a disaster, day labourers, street vendors and market vendors who peddle agricultural products OECSBusinessFocus Jan / Mar

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etc. The LPP has already proven its value when farmers in Saint Lucia received payouts on their LPP policies after an extreme rain event in December 2013 and after Hurricane Matthew in 2016. The World Bank’s Economic Outlook 2015 reported that 130 million people in Latin America and the Caribbean are poor and vulnerable. Also in 2015, the G-7 announced action to support efforts by vulnerable developing countries to manage climate change-related disaster risk through insurance, with an aim to increase the number of people with access to direct or indirect climate risk insurance coverage by up to 400 million by 2020 by building on existing risk insurance facilities such as CCRIF. We know that we are well on the way to supporting the vision of enabling vulnerable developing countries to manage risks due to natural hazards and climate change – as the three products CCRIF offers at the sovereign level do contribute indirectly to the vulnerable in developing countries accessing insurance. And at the individual level the LPP provides direct access to vulnerable persons.

CCRIF - An Internationally Recognized Example of a Risk Transfer Mechanism

As CCRIF commemorates its 10th anniversary, it has invited its members, partners, donors and stakeholders to reflect on these 10 years – not only to celebrate the achievements but also to assess the operations of the facility, reflect on lessons learned and best practices, identify issues and challenges encountered over the years and most importantly to work together in charting the strategic direction of CCRIF to 2030. CCRIF is more than simply an insurance company. The CCRIF Story is a powerful way to demonstrate the linkages between country DRM strategies and risk transfer and the linkages between risk transfer, poverty reduction and economic growth and we share the UN 2030 goals for sustainable development and the importance of leaving no one behind in development. We effectively support the goals of promoting sustainable economic growth; ensuring environmental, social and fiscal sustainability and reducing poverty – as evidenced by CCRIF’s mission statement: “A resilient Caribbean region and beyond with optimised disaster risk management and climate change adaptation practices supporting long-term sustainable development”.

CCRIF and the work we do continue to be cited as an internationally recognized example of a risk transfer mechanism that should be seen as a key and indispensable component of countries’ strategies for economic development, disaster risk management (DRM) and climate resilience. For example, the United Nations Framework Convention on Climate Change – the UNFCCC – has cited CCRIF as a best practice example in climate change adaptation that can be replicated in other regions of the world. In 2015, at COP21 – the climate change conference held in Paris in December 2015, former United States President Barack Obama pledged resources to support CCRIF to increase climate risk insurance coverage to help respond to severe climate-related impacts in terms of coverage offered and countries involved.

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www.oecsbusinessfocus.com

AMLFC Institute

MARCH

nd 2

2018

OECSBusinessFocus Jan / Mar

ENVIRONMENTAL FOCUS

EU Pledges $350 Million To Caribbean, Amid Debate Over Aid For Islands

EU pledges $350 million to Caribbean, amid debate over aid for islands The European Union pledged 300 million euros ($352 million) to the Caribbean islands recently, as the region rebuilds after consecutive Category 5 hurricanes hit in September. The storms impacted the majority of the Caribbean’s population and 39,000 children remain in need of assistance. The EU announcement came during a Tuesday morning pledging conference at the United Nations headquarters in New York, with initial reports suggesting at least $1.4 billion had been raised in total. The conference comes amid ongoing debates about how aid is sent to the islands, and who is eligible to receive it. About one-third of the European support will be new grants from the reserve of the European Development Fund, according to the European Commission, while the rest is made up of prior commitments under the EDF.

OCTs, such as the British territories of Anguilla and the British Virgin Islands, may receive funding under the EDF, whereas Saint Jan/Mar

Caribbean representatives pointed out that this creates a situation in which Saint Maarten, an OCT of the Netherlands, is eligible for development assistance under EU rules, but Saint Martin, with which it shares an island, is not. We are locked in a build-rebuild cycle due to climate change. We are categorized as middleincome countries, but we consider that we are outliers of those economic equations. Sharlene Shillingford-McKlmon, charge d’affaires at the Eastern Caribbean States Mission to the EU

“The commission will make every effort to ensure complementarities between EU interventions and ease the cooperation and the development of joint projects at a local level.”

The commission said some money will go toward short-term humanitarian relief in Dominica, St Kitts and Nevis, and Cuba, but most will support medium-term reconstruction and rehabilitation in those countries, as well as in Antigua and Barbuda and the overseas countries and territories (OCTs) of EU member states in the Caribbean.

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Martin, which is an outermost region of the EU, is eligible for EU Solidarity Fund assistance. The commission is in contact with French authorities on this application, which must come from Paris.

over the other.

In October, European Commission president JeanClaude Juncker said that the territories’ different legal statuses should not lead to one side of the island being favored

He wrote to European Parliament President Antonio Tajani that “The commission will make every effort to ensure complementarities between EU interventions and ease the cooperation and the development of joint projects at a local level.” www.oecsbusinessfocus.com

Complicating matters further, some of the affected islands are too wealthy to qualify for official development assistance under the rules set by the Development Assistance Committee of the Organisation for Economic Co-operation and Development, as Devex has reported. The commission said it would count its contribution toward its ODA, however, as Dominica, St Kitts and Nevis, Cuba, and Antigua are all considered small island developing states.

“We are ranked middle and high income [based on GDP per capita], we lose concessional financing, we self-finance, rebuild, then the hurricane season starts the next year, and then we start the entire process all over again,” she said. “[It’s] a vulnerability that is unending.”

U.N. chief António Guterres praised the response of Caribbean governments to the rare, back-to-back storms in remarks during the pledging event. He said he saw “a level of devastation that I have never witnessed before in my life” during recent visits to Dominica, Antigua, and Barbuda. Total recovery needs for these countries, as well as the British Virgin Islands, is estimated to top $5 billion, with infrastructure, housing, and agriculture industries among the most severely damaged.

“We are locked in a build-rebuild cycle due to climate change. We are categorized as middle-income countries, but we consider that we are outliers of those economic equations,” ShillingfordMcKlmon said.

“It used to be rare to see so many storms of such strength. But unfortunately, just as climate scientists predicted, this is becoming the new normal — even sooner than expected,” Guterres said. “Countries in the Caribbean need support now to rebuild, and to take effective climate action. We need a new generation of infrastructure that is riskinformed, to underpin resilient economies, communities, and livelihoods.”

EU development commissioner Neven Mimica said the EU support will help “accelerate recovery, strengthen resilience, and step up progress toward a sustainable economic path.”

The result, she said, was debt-to-GDP ratios that are often higher than many countries in sub-Saharan Africa.

“Antigua was about to be graduated from official development assistance in October and Barbuda was destroyed in the space of six hours. What kind of high-income-ness is that?” she asked.

“We are locked in a build-rebuild cycle due to climate change. We are categorized as middle-income countries, but we consider that we are outliers of those economic equations...

Financing recovery work in the Caribbean is complicated by the fact that many of the nations are classified as middle income, meaning they have limited access to concessional finance. They also have high levels of debt, Guterres noted. The donor event at the U.N. Headquarter was convened by CARICOM, the Caribbean member organization that promotes economic integration, and the United Nations Development Programme to attract financial and technical support for longterm reconstruction efforts.

The two Category 5 hurricanes hitting so close together was “unprecedented,” Sharlene Shillingford-McKlmon, charge d’affaires at the Eastern Caribbean States Mission to the EU, told the European Parliament’s development committee. The damage, which shut down agriculture, closed businesses, and enabled the spread of waterborne diseases, left the island of Barbuda uninhabited “for the first time in 300 years,” she said. More than 90 percent of buildings in Dominica were affected by Hurricane Maria, according to the UNDP. Dominica Prime Minister Roosevelt Skerrit was quoted by U.S. media in October saying “We have lost everything that money can buy.” Shillingford-McKlmon said the storms had also revealed the shortcomings of development policy in the region, explaining that between 1990 and 2017 the Caribbean has been hit by 328 natural disasters, generating $31 billion in debt for rebuilding.

On Monday, UNDP administrator Achim Steiner said the beginning of the recovery was “a critical inflection moment for tough decisions on how to do development differently, not only to rebuild, but to rebuild to a more resilient standard.”

“This means not only upgrading damaged infrastructure and houses with climate-resilient technologies and specifications,” Steiner said, “but also the need to strengthen risk governance systems, improve life-line services, strengthen and expand capacities of the private sector, diversify livelihoods, and provide social protection mechanisms for the most vulnerable households and communities.” Shillingford-McKlmon repeated her call for the creation of “some sort of development instrument, category [or] fund that can help and can be immediately available to countries that are affected by such disasters.” She said this should apply to all islands, irrespective of their sovereign status, “because we are all there and we are all family ... We have to be innovative, we have to think of new instruments.” The EU pledge follows member states’ support using the EU Civil Protection Mechanism, and more than 2.9 million euros ($3.4 million) worth of humanitarian support, such as shelter, food, and logistics. Pre-existing programs to inject 7 million euros into the budgets of Anguilla and Turks and Caicos were sped up in the wake of the disaster, and a pre-planned payment of 3.5 million euros to Dominica is also pending. The commission said Mimica met with Caribbean leaders on the sidelines of the conference to discuss their relationship with the EU after the expiration of the Cotonou Agreement, which sets the legal framework for their cooperation, in 2020. ¤

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ENVIRONMENTAL FOCUS

Study Reveals Rich Nations Far Behind on US$100B Climate Pledge

Study Reveals Rich Nations Far Behind on US$100B Climate Pledge Frank Bainimarama, Prime Minister of Fiji and President of the COP 23, arrives for the opening session of the COP23 United Nations Climate Change Conference in Bonn. Following a cascade of grim reports on the gathering pace of global warming, Fiji’s Prime Minister made an open plea to the world for “urgent action” on Climate Change at UN talks in Bonn on November 6, 2017. Wealthy countries are falling well short of their pledge to provide US$100 billion a year to developing countries by 2020 as part of the Paris Climate Accord, according to a recently published report. Of the US$111 billion invested in clean energy technologies, only US$10 billion was provided by rich countries, according to data compiled by Bloomberg New Energy Finance. The pledge was first made at a Copenhagen Summit in 2009 and confirmed by signatories of the 2015 Paris Agreement to limit global warming caused by greenhouse gas emissions. The US$100 billion, to be raised from multiple sources including the private sector, was intended to be a minimum, with nations expected to set a new goal by 2025.

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Frank Bainimarama Prime Minister of Fiji

UN negotiators who recently met in Bonn, Germany for COP 23, were trying to work out how to implement the Paris Accord, which aims to keep warming at “well under two degrees Celsius” (3.6 degrees Fahrenheit) above pre-industrial levels. But US President Donald Trump has pulled his country out of the deal, and analysts have warned that other national leaders may struggle to find the funds to match their ambitions. Standard and Poor’s has since released a report questioning where the money would come from, citing a need for many countries to increase budgets and debt burdens to finance their pledges. “In our view, it is very unlikely that governments would be willing, or able, to risk deteriorating their creditworthiness by stretching their budgets and debt burdens to fund the implementation costs,” the analysts wrote. But Bloomberg New Energy Finance also said that developing countries needed to improve legal frameworks in order to make investments in clean energy more attractive, both for public and private investors. ¤

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CDB Joins Global Partnership To Combat Climate Change

CDB joins global partnership to combat climate change The Caribbean Development Bank (CDB) has joined a coalition of developing and developed countries and international institutions, which have committed to combatting Climate Change and adapting to its effects. On November 14, on the margins of the United Nations Climate Change Conference (COP23), the Bank was announced as one of the newest members of the NDC Partnership. Admission to the Partnership comes as CDB intensifies its effort to scale up climate action in its Borrowing Member Countries. Speaking at the event, “Champions for Climate Action: The NDC Partnership”, President of the Bank, Dr. Wm. Warren Smith, said that CDB’s decision to join was a “no-brainer”. “The principles that underpin this Partnership coincide very nicely with the approach of the Caribbean Development Bank. We, as a small institution, have learnt over the years that there is very little that we can do on our own. We have to work with several different countries and institutions in order for us to mobilise the resources that we need for our borrowing member countries. And we also need to gather the information and the experiences of our larger partners, in particular, for us to be able to get it right,” said Smith. The NDC Partnership is a platform for the implementation of nationally determined contributions (NDCs) – the targets

countries around the world are working to achieve, to stop global temperatures from rising 1.5 to 2 degrees Celsius above preindustrial levels. The Partnership promotes long-term climate action; advancing adaptation and mitigation; and aligning development and climate change. Partners work together to identify the capacity needs of developing countries and determine the appropriate means to address those needs. The NDC Partnership was launched at the United Nations Climate Change Conference held in Marrakesh, Morocco last year. Since then, it has grown to almost 80 members that are engaging jointly to help 15 developing countries and emerging economies reach their NDC targets under the Paris Agreement and achieve the Sustainable Development Goals. Brazil; Canada; Colombia; Germany; Haiti; Italy; Mexico; Saint Lucia; and the United Kingdom are CDB member countries that have joined the NDC Partnership. ¤ President Smith (right) discusses CDB’s decision to join the NDC Partnership with moderator, Jennifer Morgan (left) at the Champions for Climate Action event on November 14, 2017 in Bonn, Germany.

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First Meeting Between IAEA and Caribbean Community Climate Change Centre Takes Place

Delegates from the CCCCC meet with scientists from the IAEA Environment Laboratories in Monaco. (Photo: IAEA)

First Meeting Between IAEA and Caribbean Community Climate Change Centre Takes Place Senior representatives of the Caribbean Community Climate Change Center (CCCCC) visited the IAEA and its laboratories to discuss areas for cooperation with the Agency. The Center, based in Belize, was established in 2002 by the Caribbean Community (CARICOM) Heads of Government and officially opened in August 2005. The CCCCC plays an important role in coordinating the Caribbean region’s response to climate change, working on effective solutions to combat the environmental impacts of climate change and global warming through numerous projects and scientific research. The visit of the CCCCC took place 30 October to 3 November.

exposed us to new methods, techniques and tools developed by its laboratories in Monaco and Seibersdorf to address these issues with regards to sustainable development.” - Dr. Leslie, Executive Director, Caribbean Community Climate Change Center. David Osborn, Director of the laboratories, welcomed the

The CCCCC delegation, led by CCCCC Executive Director, Kenrick Leslie, included Ulric Trotz, Deputy Executive Director and Science Adviser, Mark Bynoe, Assistant Executive Director and Head of the Programme Development and Management Unit, Donneil Cain, Project Development Specialist, Keith Nichols, Senior Project Manager and Sharon Lindo, Policy Adviser. The delegation first visited the IAEA Environment Laboratories in Monaco, where they learned about the IAEA’s work relating to the marine environment. “The Caribbean region’s primary concern is adapting to climate change and events such as the recent hurricane. The IAEA has OECSBusinessFocus

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Aspects of plant breeding and genetics are explained during the visit to the IAEA laboratories in Seibersdorf. (Photo: IAEA) www.oecsbusinessfocus.com

delegates and provided an overview of how various nuclear and isotopic techniques can contribute to Member States’ efforts to protect the environment. Monitoring the presence of marine contaminants and understanding the impact of ocean acidification are among several potential areas for cooperation between the CCCCC and the IAEA which were subsequently discussed. The CCCCC delegation also highlighted the need to connect environmental challenges in the Caribbean with the socioeconomic issues of the region. This was followed by a tour of the Monaco laboratories to see first-hand how scientists at the IAEA can assist Member States by providing the necessary information for more precise and effective environmental management, and by building Member State capacities in applying nuclear technology in this field. The following day, the representatives travelled to the IAEA Headquarters in Vienna, to take part in a workshop with IAEA staff members from TCLAC, the Department of Nuclear Sciences and Applications, as well as the Department of Nuclear Energy, on ‘Climate Change and Nuclear Techniques for the Caribbean Community’. The workshop was held to establish a base for discussion and partnership development between the CCCCC and the IAEA in the upcoming years, for the benefit of the Caribbean Community. At the opening of the workshop, Mr. Longoria, Director of TCLAC, highlighted the importance of this meeting: “The IAEA looks forward to identifying areas for cooperation between our agencies to support Caribbean countries in their efforts to address immediate and long term vulnerabilities to Climate Change in the region, and to contribute towards strengthening Caribbean countries’ resilience and sustainable development. It is the IAEA’s goal to support your work and find synergies for cooperation and exchange of information in order to support the region’s efforts towards achieving the Sustainable Development Goals”. The CCCCC delegation also visited the IAEA Isotope Hydrology Laboratory at IAEA Headquarters to learn more about the use of isotopes in measuring precipitation and in water resource management, and the IAEA Laboratories in Seibersdorf, where they were introduced to the role of nuclear technology in insect pest control, plant breeding and genetics, soil and water management and crop nutrition, as well as in food production and environmental protection. At the opening of the workshop, Mr. Longoria, Director of TCLAC, highlighted the importance of this meeting: “The IAEA looks forward to identifying areas for cooperation between our agencies to support Caribbean countries in their efforts to address immediate and long term vulnerabilities to Climate Change in the region, and to contribute towards strengthening Caribbean countries’ resilience and sustainable development. It is the IAEA’s goal to support your work and find synergies for cooperation and exchange of information in order to support the region’s efforts towards achieving the Sustainable Development Goals”.

The CCCC delegation watches as an IAEA expert demonstrates applications of nuclear technology in water resource management during a tour of the IAEA Isotope Hydrology Laboratory in Vienna. (Photo: IAEA)

The CCCCC delegation also visited the IAEA Isotope Hydrology Laboratory at IAEA Headquarters to learn more about the use of isotopes in measuring precipitation and in water resource management, and the IAEA Laboratories in Seibersdorf, where they were introduced to the role of nuclear technology in insect pest control, plant breeding and genetics, soil and water management and crop nutrition, as well as in food production and environmental protection. Dr. Leslie said: “the tools developed by the IAEA in Seibersdorf are very useful for the Caribbean region, especially with regards to improving crop resilience to face ever increasing temperatures, salt water intrusion and drought”. At the end of the weeklong visit, Dr. Leslie remarked that “the workshop has been an eye-opener on the role of the IAEA in Sustainable Development”. Upon returning to their headquarters in Belize, the CCCCC plans to share the information on the work of the IAEA acquired during the workshop with stakeholders and countries in the region, with a view to advising national and regional policy- and decisionmakers. The IAEA, through its technical cooperation programme, assists its Member States in combatting climate change and its effects. Furthermore, the TCP also helps countries in the region manage water resources and combat vector borne diseases such as malaria, zika and dengue, through the use of nuclear techniques. The number of IAEA Member States from the non-Spanish speaking part of the Caribbean has been increasing steadily, with a total today of nine countries. Saint Lucia, Grenada, and Saint Vincent and the Grenadines are in the process of depositing their legal instruments for IAEA membership, and other countries from the region are expected to join in the near future. ¤`

OECSBusinessFocus Jan / Mar

ENVIRONMENTAL FOCUS

Embracing Opportunities Out Of Difficulties: Building Back, A Chance To Introduce Clean Energy

Embracing opportunities out of difficulties: Building back, a chance to introduce clean energy By Martin Rufenach, Programme Officer in the Sustainable Energy Unit at the OECS Commission The 2017 hurricane season, now over, left a swath of destruction in the Caribbean. The next season, inevitably approaching, is not promising relief – as hurricane experts and scientists expect another busy season. Some of the recently devastated Eastern Caribbean islands like Dominica and Barbuda are starting to rebuild their infrastructure from scratch after the passage of hurricanes Irma and Maria. However serious and sad the tragedy of the disaster was, starting from scratch and rebuilding infrastructure provides a new chance to do things better. Going forward we are faced with questions on how to reduce the risk of damage, how to withstand such events and how to “build back better”. It is common sense that rebuilding disaster-struck nations greener and more resilient is the smart way forward. From the energy perspective, there is the opportunity to accelerate the transition of the energy sector towards a sustainable direction as announced by the region’s policy-makers. As in the past, the small islands of the Caribbean still rely heavily on a centralized energy system based on fossil fuels. These island nations are highly dependent on fuel imports and spend a high share of their gross product to attain it. The conventional centralized structures with huge power plants and distribution grids have proven to be vulnerable and difficult to rebuild following a natural disaster. Decentralized renewable energy solutions are an emerging technology which can serve to reduce electric system blackouts. These so called micro- or mini-grids with green energy sources OECSBusinessFocus

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could be interlinked with distribution lines, allowing each smaller electricity network to support one another. Micro-grids, equipped with energy storage like batteries, can easily switch between grid power and their own energy reserve. Another advantage is that renewable energies like solar do not need fuel so they are not negatively impacted by fuel shortages after a disaster. If these renewable energy micro-grids are designed to withstand high wind speeds, or as retractable solutions, they can be repaired faster than the larger centralized power plant and distribution grids. This allows for a faster return to normalcy after a hurricane, for example. Renewable energy technologies are not new and have been shown to function well in harsh conditions around the world, such as in remote areas like deserts. The addition of storage systems further enhances the resilience of such systems, although there is an accompanying rise in investment costs. The additional expenditure can be justified as there are almost no running or maintenance costs and ultimately such systems save money since there is no need to buy fuel. The old-fashioned centralized fuel based energy systems were designed in times when oil was the only solution to get energy. Nowadays, advanced renewable energy technologies can support the transition to a new era of modernization in both energy generation and the strengthening of electricity infrastructure. The combining of these technologies presents an ideal opportunity for the Caribbean to move to cleaner, greener, more resilient and more reliable electricity infrastructure. The Energy and Climate Change Units of the Environment Cluster at OECS Commission are striving to support OECS Member States to develop and adopt sustainable energy solutions, adapt to and mitigate Climate Change and promote environment protection to make the Eastern Caribbean greener and more resilient. We encourage all residents in the OECS to educate themselves on how they can build or build back better.

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Nevis Set to Complete Drilling of Geothermal Test Wells in Early 2018 Caribbean Tourism Organization and Caribbean Development Bank Partner with Ministry of Tourism of St. Kitts to Host Climate Smart Tourism Forum

Nevis Set to Complete Drilling of Geothermal Test Wells in Early 2018 By Monique Washington

Nevis Renewable Energy International (NREI) has been contracted for the exploration of geothermal sources in Nevis. The Drilling contractors DOSECC, based in Salt Lake City, Utah, have also partnered with NREI to conduct and complete the well installation. DOSECC is known in the geothermal industry for its commitment to scientific integrity, core quality, safety, and risk mitigation, all of which will continue to drive forward the Nevis geothermal project.

Caribbean Tourism Organization and Caribbean Development Bank Partner with Ministry of Tourism of St. Kitts to Host Climate Smart Tourism Forum

Once drilled, the geothermal reservoir data collected will measure the necessary performance data, geologic and reservoir information needed for the turbine heat exchangers and production well design. Six local staff have already been employed to work on the geothermal project.

Forum brought together tourism and international development partners, and regional public and private tourism sector representatives to discuss strategies for climate resilient Caribbean tourism

In just 45 days the drilling of test wells for the exploration of geothermal energy is expected to be completed in Nevis, according to Hon. Mark Brantley, the Minister assigned to the geothermal project. He also announced the geothermal project will be moving forward in hopes to making Nevis a clean, green fossil fuel free island.

Brantley said, “we have been trying to get to a point to move this project forward. I think the advantages of geothermal are well known. Clean energy, green energy, cheaper energy and a renewable resource that would really put Nevis in a category of its own,” he said. Continuing he said, “If we can achieve what we intend to achieve here, it would mean that Nevis will become fossil fuel free for this generation of electricity and it would put us in a category of our own in the Caribbean and perhaps the world in terms of being completely sustainable for our electricity supply.” The former Minister of Energy Carlisle Powell who said that he visited the drill site in Hamilton commented “They are at the start of what is potentially a two year project to get geothermal and he is in full support of the geothermal project but getting geothermal to Nevis will take some time. Meanwhile Minister Brantley said that the project has come a significant way from its inception in 2004. ¤

The Caribbean Tourism Organization (CTO) in collaboration with the St. Kitts Ministry of Tourism hosted the Climate Smart Sustainable Tourism Forum, as the first regional activity related to implementation of the Supporting a Climate Smart and Sustainable Caribbean Tourism Industry (CSSCTI) project, funded by the Caribbean Development Bank (CDB). The landmark event, in observance of the International Year of Sustainable Tourism for Development was held in Basseterre, St. Kitts from December 1214, 2017. The Forum brought together local, regional, and international representatives from public and private sector tourism entities, as well as development agencies for three days of dynamic and interactive engagements. It examined climate change adaptation, mitigation, and opportunities for sound management of Caribbean destinations. Key Forum Sessions included: Tourism Resiliency through Climate Change Adaptation & Mitigation; Innovative Models & Best Practices in Sustainable Tourism; S.M.A.R.T Destinations: Using Climate as an Opportunity; The Tourism Recovery Roundtable; and Roadmap to Disaster Management. ¤ OECSBusinessFocus Jan / Mar

ENVIRONMENTAL FOCUS

BVI launches Flood-Resilient SMART Communities Project

BVI launches Flood-Resilient SMART Communities Project Three flood-prone communities in the British Virgin Islands (BVI) will soon benefit from a project that will help them build resilience to that particular climate change impact. The Establishing Flood-Resilient SMART Communities through Non-Governmental Organisations (NGO) Partnerships project will target the communities of Sea Cow’s Bay and East End/Long Look on Tortola, and Great Harbour on the sister island of Jost Van Dyke. The project is being funded through the Community Disaster Risk Reduction Fund (CDRRF), which is managed by the Caribbean Development Bank. It is a collaborative effort among the Government of the British Virgin Islands through the Department of Disaster Management (DDM), and several non-profit organisations, including the Adventist Development Relief Agency, Rotary Family of BVI, BVI Red Cross and the Jost Van Dyke Preservation Society. CDRRF funded the project to the tune of USD649,500. “The devastation experienced in the Caribbean during the 2017 Atlantic Hurricane Season is a reminder that tackling the impacts of climate change in one of the world’s most disaster-prone regions must be a matter of urgency,” said Claudia James, Project Manager, CDRRF, CDB. “CDRRF is pleased to help Borrowing Member Countries build greater resilience to these hazards, which continue to threaten the Region’s social and economic development.” Work to be completed under the project will include retrofitting the Ebenezer Thomas Primary School and Valarie O Thomas Community Centre, the installation of sirens, and the procurement and installation of emergency signs and sedimentation traps for water courses. Director of the Department of Disaster Management, Ms. Sharleen DaBreo underscored the project’s importance in

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helping the BVI lessen its vulnerability to climate change impacts. “The Intergovernmental Panel on Climate Change has noted that in recent decades, changes in climate have caused impacts on natural and human systems on all continents and across the oceans,” DaBreo said. Like other Caribbean islands, the BVI is highly susceptible to the devastating impact of natural disasters because of the proximity of communities to coastlines and changes to natural topography. “We have already witnessed firsthand the catastrophic impact of intensifying weather systems that could be attributed to the warming global climate. The August floods we experienced also illustrate the devastating impact of intense periods of rainfall on vulnerable communities,” she said. “The Flood-Resilient SMART Communities project is therefore quite timely for the BVI and we are keen to see the results.” A SMART Community integrates comprehensive disaster management principles to reduce vulnerability and build resilience to climate change impacts. The project is intended to create a safer, healthier and greener environment that allows the residents in the targeted communities and other users to live and function in a way that enhances their overall quality of life. It is scheduled to be completed over the next two years. CDRRF was established by CDB and is supported by the Government of Canada and the European Union. The Fund finances community-based disaster risk reduction and climate change adaptation initiatives at the local level across eligible Borrowing Member Countries of the Bank. ¤

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CDB Approves Funding To Restore Electricity And Build Climate Resilience In Anguilla

CDB approves funding to restore electricity and build climate resilience in Anguilla The Board of Directors of the Caribbean Development Bank (CDB) has approved over USD5 million in funding to support the Anguilla Electricity Company Limited (ANGLEC) with the complete restoration of its transmission and distribution system, which was damaged during the passage of Hurricane Irma in September.

Under the project, the transmission and distribution system will be rebuilt in accordance with current installation standards, and ANGLEC will use the opportunity to introduce measures to correct some pre-existing issues. These include improving the anchoring and staying of new poles and re-routing power lines.

The severe weather event destroyed poles, transmission lines and transformers, causing notable disruption to Anguilla’s electricity supply. The outage also interrupted the island’s water supply and resulted in the cancellation of numerous hotel bookings.

In addition to a loan from CDB, the project will be supported through USD61,000 in grant resources provided by the European Investment Bank (EIB) to CDB under the EIB Grant Facility for Climate Action Support, and counterpart financing from ANGLEC.

“The economic impact of these disruptions has been significant. This project will therefore focus on urgently restoring the transmission and distribution system by financing the purchase of replacement equipment and material needed for complete restoration,” said Daniel Best, Director, Projects Department, CDB.

Hurricane Irma caused a total shutdown of Anguilla’s electricity system, affecting households, essential services, government entities and businesses. A month later, only 40 percent of Anguillans regained service. Irma’s impact further deepened socioeconomic challenges in Anguilla as the Government worked toward recovery from a near decade-long fallout of the financial crisis, which threatened the island’s economic security due to contractions in the two main economic sectors – tourism and financial services.

The Director also noted the need to address Anguilla’s vulnerability to climate change, and build the country’s resilience to its impacts. “This project will also include a climate vulnerability and risk assessment that will provide recommendations to improve the climate resilience of Anguilla’s electricity network. The Bank will also support the preparation of a business continuity plan to help ANGLEC recover better and faster after a disaster event,” he said.

The Project aligns with CDB’s strategic objective of supporting inclusive and sustainable growth and development through the promotion of environmental sustainability. Since 2000, CDB has provided USD4.3 million in support for three disaster management projects in Anguilla. ¤

OECSBusinessFocus Jan / Mar

CDB Supports Training To Help Dominicans Build Back Better

CDB supports training to help Dominicans build back better Two hundred and thirty four Dominicans, 40 percent of them women, are now better equipped with the skills and knowledge they need to construct homes that can better withstand hurricanes. They have completed the Rapid Training of Artisans programme, a learning experience that took place in November, which taught them how to efficiently and economically repair and rebuild roofs and timber-framed walls in accordance with building codes. Stakeholders have called for further reviews of building practices, following the devastation left in the aftermath of Hurricane Maria. The category five hurricane struck Dominica on September 21. The Government of Dominica has plans to rebuild stronger than before, and is preparing to commence resilient reconstruction. “This early intervention not only seeks to ensure that the rapid roofing repairs were done in conformity to best practice, especially within the non-formal sector, but to build awareness throughout local communities and the wider society,” said Lucien Blackmoore, Permanent Secretary, Ministry of Housing, Dominica. “We have a long and tedious journey ahead in rebuilding the beloved Nature Isle, and such an invaluable contribution can only auger well for the Building Back Better vision,” he said. “It is critical to cultivating the consciousness required

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for changing the mindset and adopting the desired attitude and behavior towards safer homes and resilient communities.” The Rapid Training of Artisans programme is funded through the Caribbean Technological Consultancy Services (CTCS) network of the Caribbean Development Bank (CDB). It has enabled the training of artisans, and follows a similar programme implemented with notable results in Grenada immediately after the 2004 passing of Hurricane Ivan. Participants of the CDB-funded rapid training workshop are learning climate resilient building techniques. Artisans in each of Dominica’s 10 parishes benefitted from the Rapid Training of Artisans programme, which is aligned to CDB’s strategic objective of supporting inclusive growth and sustainable development. “This training underscores CDB’s continued efforts to assist our Borrowing Member Countries (BMCs) in building resilience by undertaking mitigation measures to minimise the economic and social impact of natural disasters, particularly hurricanes,” said Darran Newman, Acting Division Chief, Technical Cooperation Division, CDB. “Lessons learned will be applied to future interventions in other BMCs that have been affected by, and are vulnerable to, hurricanes,” she said. ¤

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5 Million Dollar Funding To Support Climate-Smart Agriculture In Grenada

5 Million Dollar Funding to support climate-smart agriculture in Grenada The Caribbean Development Bank has approved a USD5 million loan to support climate-smart agriculture and enterprise business development in Grenada. The project will assist the Government of Grenada in its efforts to increase productivity and the contribution of the agricultural sector to economic growth, rural poverty reduction and environmental sustainability. The International Fund for Agricultural Development will provide additional financing. Male and female farmers and entrepreneurs in some of Grenada’s poorest rural communities will receive technical assistance and financial support, as well as increased opportunities to own and operate businesses and take advantage of employment opportunities in the sector. The project will also promote farmer adoption of new technologies and practices to build resilience to climate change impacts. “Climate change has exacerbated Grenada’s vulnerability to economic downturns, particularly within the rural/ agricultural sector. The passage of Hurricanes Ivan and Emily, as well as the recession, have threatened food security and resulted in high dependency on food imports.” said Daniel Best, Director, Projects, CDB. “Interventions like this project will stimulate job creation, youth empowerment and promote agricultural practices

and technologies that make the sector more resilient to the impacts of a changing climate. CDB is pleased to be playing a role in addressing persistent issues of poverty, unemployment and underemployment in Grenada’s rural areas,” he said. The project aligns with the Government of Grenada’s ongoing work to protect the sector by implementing climate- and disaster-smart agricultural and sustainable land management strategies to support long-term stability. Under the project, there will be skills training and job placement for programme beneficiaries and training in climate-smart practices and technologies. Infrastructure, including roads and drainage systems, will be expanded and rehabilitated. Over the past three years, Grenada has been the fastest growing Caribbean economy. While the tourism sector is the leading foreign-exchange earner, statistics from the International Trade Centre list agriculture as responsible for almost half of the country’s total exports. The sector also contributes 13 percent to total employment and is vital to the economic well-being of those living in rural areas. The programme will be implemented over a six-year period and will assist the Government of Grenada with meeting its development goals, particularly achieving food security and reducing poverty. ¤

OECSBusinessFocus Jan / Mar

ENVIRONMENTAL FOCUS

CDB Approves US$29M To Rehabilitate Infrastructure Damaged By Hurricane Irma In Antigua And Barbuda

CDB approves US$29M to rehabilitate infrastructure damaged by Hurricane Irma in Antigua and Barbuda The Board of Directors of the Caribbean Development Bank (CDB) has approved US$29M in funding to the Government of Antigua and Barbuda, to assist with recovery efforts after the passage of Hurricane Irma in September. The funds will be used to rehabilitate and reconstruct critical infrastructure in the transportation, education, water and sanitation, and agriculture sectors. Hurricane Irma impacted the twin-island nation on September 6, 2017, making landfall in Barbuda as a category five hurricane. In Barbuda, the hurricane destroyed housing, crops, livestock and fishing vessels, and also severely impacted the island’s water supply. The Antigua State College was also affected by heavy winds and rains, while storm surges and flooding caused additional damage to many roads. “The destruction caused by Hurricane Irma adversely impacted the lives of many citizens of Antigua and Barbuda. At CDB, we worked very closely with our in-country counterparts to develop the interventions captured in this project, which will support the Government’s efforts towards a comprehensive and sustainable approach to the redevelopment process, as it aims to ‘build back better’. We expect the project to significantly contribute to the restoration of livelihoods that were adversely impacted by the passage of the hurricane. The outcome for Antigua and Barbuda will not only be more resilient infrastructure but also more resilient institutions and people,” said Director of Projects at CDB, Daniel Best. Caribbean Development Bank The Caribbean Development Bank (CDB), is a regional financial institution which was established by an Agreement signed on October 18, 1969, in Kingston, Jamaica, and entered into force on January 26, 1970. The Bank came into existence for the purpose of contributing to the harmonious economic growth and development of the member countries in the Caribbean and promoting economic cooperation and integration among them, having special and urgent regard to the needs of the less developed members of the OECSBusinessFocus

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region (Article 1 of the Agreement establishing CDB). In the Revised Treaty of Chaguaramas, the CDB is recognised as an Associate Institution of CARICOM The project has several components. Planned infrastructure works include: • reconstruction of 11km of road, and repair of a bridge, along with associated drainage works; • reconstruction and rehabilitation of education institutions in both Antigua and Barbuda and construction of teacher accommodation in Barbuda; • rehabilitation of the desalination plant and water storage facilities in Barbuda; and • the upgrade and rehabilitation of agriculture and fishing infrastructure. Additional components include a redevelopment plan and policies for Barbuda, capacity building initiatives and engineering consultancy services. CDB had previously provided a US$200,000 Emergency Relief Grant and an Immediate Response Loan in the amount of US$750,000 to the Government of Antigua and Barbuda, in the aftermath of Hurricane Irma. In addition, the Bank has approved a loan of US$11.8 mn to assist the Government in meeting its financial obligations to external partners. This will allow the country to fulfil urgent financing requirements without diverting resources away from critical social or emergency recovery needs. The project is consistent with CDB’s strategic objective of promoting environmental sustainability and disaster risk management in its Borrowing Member Countries, and its corporate priority of promoting disaster risk management and climate change mitigation and adaptation. (Caribbean Development Bank Press Release) ¤

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ECCB Governor says ECCB Governor Says Hurricane Reversed hurricane reversed Significant Strides In 2017 significant strides in 2017

Massy United Insurance to pay out more than US$250 million Massy United Insurance To Pay Out More Than US$250 Million

Hurricanes Irma and Maria that swept through the Lesser Antilles in September “rudely interrupted and reversed” the significant stride that had been made by the Eastern Caribbean Currency Union (ECCU), the Governor of the St Kitts-based Eastern Caribbean Central Bank (ECCB), Timothy Antoine has said. The ECCU groups the islands of Antigua and Barbuda, Dominica, Grenada, St Lucia, St Vincent and the Grenadines, St Kitts-Nevis, Montserrat, Anguilla and the British Virgin Islands. Antoine said prior to the hurricanes that left trails of death and destruction in several Caribbean islands notably, Antigua and Barbuda, Dominica, Anguilla, British Virgin Islands, the Bahamas and the Turks and Caicos Islands, the ECCU was “on pace to record its fastest growth in a decade”. He said in 2017, the ECCB made significant strides “of which we can be justifiably proud” including the return to profitability and the launch of the strategic plan. “The year 2017 has been one of mixed fortunes for the Eastern Caribbean Currency Union. Until September, our Currency Union was on pace to record its fastest growth in a decade. “This welcomed development was rudely interrupted and reversed by the passage of Hurricanes Irma and Maria, two of the most powerful storms ever recorded. Five of our member countries were impacted with three receiving direct hits,” Antoine said, noting that in the aftermath of these storms, “the ECCU family spirit was on full display as we supported affected members. “As people of faith, we are fortified in the knowledge that God is with us even in times of devastation and despair. He is with us in our bright days and dark days, our good times and bad times, our highs and lows.” Antoine said that looking forward to 2018, “we are excited about the implementation of our Strategic Plan styled Transforming the ECCU Together. (CMC) ¤

Massy United Insurance will pay out in excess of US$250 million to hundreds of customers affected by Hurricanes Harvey, Irma and Maria, which hit the Caribbean earlier this year. To date, the company has received in excess of a thousand claims from clients with damage. As at midDecember, 2017, 80 per cent of these have been paid, with the goal to have the remainder settled by the end of this month. Related articles The company, which operates in 18 territories throughout the region, saw customers in nine of its markets, namely Antigua, Anguilla, St Maarten, St Kitts, British Virgin Islands, Turks & Caicos, Bahamas, Dominica, Montserrat experiencing significant losses as a result of Irma and Maria. In the aftermath of Irma, Massy United Insurance dispatched a team of representatives to the worst hit islands of St Kitts, Antigua and the Turks & Caicos, but they soon had to batten down and prepare for the onslaught of Maria. Within a week of Hurricane Maria’s destruction, the company deployed another team of representatives to Dominica to assist with the recovery efforts in that country. As a true force for good, the Massy United team also provided food, water and other essentials items, including tarpaulins to cover damaged roofs. “We had claims officers and adjusters on the ground almost immediately after the hurricanes struck to assess damages and soon after began to settle claims in those territories. In Dominica, for example, even though there was no light or running water, we opened our office so people could seek clarification on their claims,” Graham said. “Speedy settlements are at the centre of the company’s customer centric approach and commitment to be a positive force in the region. Also, it shows Massy United’s role to lead the way in the insurance industry, especially in the area of responsiveness to natural disasters. “We remain committed to serving our valued policyholders and helping them to rebuild and restore after any disaster. As a trusted partner, Massy will always be there for our customers and will serve them in a timely, efficient, and effective manner,” Graham said. (PR) ¤

OECSBusinessFocus Jan / Mar

ENVIRONMENTAL FOCUS

A CARILEC delegation meeting with the Ministry of Infrastructure in Tortola. (GP)

CARILEC Members Deliver Record Breaking Disaster Support Response

CARILEC Members Deliver Record Breaking Disaster Support Response The Caribbean Electric Utility Services Corporation (CARILEC) Disaster Assistance Programme (CDAP) for disaster relief and electricity restoration has been in full action during the very active 2017 Atlantic Hurricane season. Thus far the secretariat has coordinated the deployment of 96 linesmen, which is a record amount of line-workers being deployed under the programme compared to its last highest in 2004 for Hurricane Ivan where seventy-four (74) line-workers were deployed. As of October 7 CARILEC has coordinated the deployment of 59 line-workers from eight member utilities to provide manpower assistance for the restoration of electricity as follows: • 20 line-workers from Grenada Electricity Services Ltd (GRENLEC), Barbados Light & Power Company Ltd (BLPC), St Vincent Electricity Services Ltd (VINLEC), and St Lucia Electricity Services Ltd (LUCELEC) have been deployed to Anguilla to assist member utility Anguilla Electricity Company Ltd (ANGLEC) in its restoration effort. • 28 line-workers from VINLEC, LUCELEC, Belize Electricity Limited (BEL), Bermuda Electric Light Company Ltd (BELCO), and N.V. Electriciteit- Maatschappij Aruba (NV ELMAR) have been deployed to British Virgin Islands to assist member British Virgin Islands Electricity Corporation (BVIEC). • 11 line-workers from BLPC and Jamaica Public Service Company Ltd (JPSCO) have been deployed to Dominica to assist Dominica Electricity Services Ltd. (DOMLEC) with restoration efforts and more crews expected to be added to the island in the coming weeks. The following utilities had initially made crews available but subsequently needed to utilise them for their own restoration activities: Antigua Public Utilities Authority (APUA), St Kitts Electricity Company Ltd (SKELEC), Nevis Electricity Company Ltd (NEVLEC), and DOMLEC. As part of the relief efforts a visit was made to the islands of Anguilla on September 30 and Tortola on October 1 by a CARILEC delegation consisting of CARILEC Chairman and CEO of Grenada Electricity Services Collin Cover; Executive Director of CARILEC Dr Cletus Bertin, and CARILEC Board Director and Managing Director of St Lucia Electricity Services Ltd Trevor Louisy. OECSBusinessFocus

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The team was met by the CEOs of the respective utilities of ANGLEC and BVIEC; surveyed the extensive damage to the transmission and distribution infrastructure; met with their line crews on the ground; and convened two top level meetings with government officials and utility personnel. A meeting was held in Anguilla with Governor Tim Foy; Deputy Governor Perin Bradley; Minister responsible for the Ministry of Infrastructure, Communications, Utilities, Housing, Agriculture, Fisheries & Environment; Curtis Richardson; ANGLEC CEO David Gumbs; and other government and utility officials to discuss future restoration activities. The CARILEC delegation also met with Minister of Communication & Works, and District 4 representative in Tortola Mark Vanterpool. After this visit, a decision was made to provide additional crews on these islands to assist with the accelerated restoration of electricity services. The following additional crews were deployed as of October 12 as a result of this decision: • Four crews in Anguilla totalling 21 linemen from Bahama Power & Light (7), NEVLEC & SKELEC (6), Montserrat Utilities Ltd (4) and Guyana Power & Light Inc. (4). • Three crews in BVI totalling 16 linemen: Caribbean Utilities Company (7), GRENLEC (4), & VINLEC (5). CARILEC said it was extremely grateful to the member utilities that showed “the meaning of true Caribbean integration and solidarity through their invaluable unwavering commitment to CDAP, and their readiness to provide crew assistance”. “The Secretariat will continue to collate and disseminate information from member utilities concerning the progress of the restoration efforts and the associated needs. The level of regional manpower assistance required will be continually reviewed and we shall continue to facilitate arrangements for the movement of personnel, materials, tools and equipment to accelerate the safe and complete restoration of electricity services to affected locations,” CARILEC said. ¤

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OECS COMMISSION

OECS iLAND Resilience Project Launches First Ever UX UI E-Newsletter in the Sub-Region

The OECS sub-region’s first “user experience/ user interface”/UX UI e-newsletter was launched recently. The e-newsletter dubbed “iLAND Matters”, serves the OECS region and by extension, the Caribbean but has a global reach.

“iLAND Matters” is a modern communication tool of the OECS iLAND Resilience Project. It informs the public on how best to safeguard their lives and properties against harsh and intense weather conditions. Project Manager of the iLAND Resilience Project, Chamberlain Emmanuel informed that the e-newsletter is one of the many groundbreaking public awareness interventions put forward by the OECS. He says that the e-newsletter is unique and interactive in that users are able to “click back” and access the newsletter’s website, from their emails. He noted that the e-newsletter is also shareable and can be accessed via mobile devices. He says because of this, he is eager to provide a platform to explain Climate Change and Sustainable Land Management issues and its importance to the public. “ The OECS iLAND Resilience Project has to do with engagement and participation of the public and various stakeholders. Therefore, it is important we have the various tools and media to engage the public, and to be able to impact knowledge on Climate Change and Sustainable Land Management, as well as to empower them to be able to respond to those impacts” says Emmanuel. The OECS iLAND Resilience project focuses on Sustainable Land Management and Climate Change Resilience Best Practices. Presently there are a number of ongoing projects in member territories, which addresses issues like food security, slope management, and ecosystem restoration, among others. Emmanuel explains that the iLAND Matters e-newsletter gives an in-depth view on the progress, and benefits of each of these projects to the member states. He states that Climate Change is OECSBusinessFocus

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no longer a future issue, but an issue for now, and should concern us all. “Adaptation which helps us to be resilient to those impacts is very critical. Therefore, we have put adaptation as the focus of the project. Adaptation in terms of hard measures like physical works, and soft measures like policy interventions” Emmanuel continued. iLAND Matters touches on the 2017 Hurricane Season and the way forward for the region. It also highlights the contributions of the general public in the fight against Climate Change. Head of Communications at the OECS, Ramon Peachy, tells us that although Climate Change can be a bit technical, the e-newsletter will entail a number of exciting competitions and edutainment content. Users will be able to upload photos and send in video content. He says that the e-newsletter forms part of the OECS’s mandate- to reach and communicate with the wider OECS region. “We have a broad audience across the OECS and internationally as well, it is vital that we reach out to these audiences and stakeholders. The electronic newsletter is important because it is a means of direct marketing and communication to all our audiences’ emphasized Peachy. The content packed e-newsletter is dynamic and easy to use. The OCES informs that the iLAND Matters e-newsletter will be updated bi monthly. The public is invited to submit photos and stories on Climate Change or Sustainable Land Management issues. The public is also asked to visit the website at http://www.ilandresilience.org/ and subscribe to remain informed on projects and to participate in the exciting competitions that come out in every edition. ¤

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UPCOMING EVENTS 2018

- Corporate Communications, Human Resource & Customer Service Conference 11-14 March Jamaica

- Occupational Health & Safety & Disaster Management Seminar 11-14 March Jamaica

- Linesman Symposium 7-12 May

CARILEC

St. Vincent

- Chief Executive Ofcers & Leadership Conference 20-23 May

Barbados

- Engineering Conference 22-26 July

Trinidad & Tobago

- Caribbean Renewable Energy Community/Smart Grid Conference 23-27 September

Miami

POWERING THE CARIBBEAN’S GROWTH THROUGH:

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Elevating the OECS Agriculture and Fisheries Sector: An Opportunity For A Different Future

OECS COMMISSION

Elevating the OECS Agriculture and Fisheries Sector: an opportunity for a different future

The 5th Meeting of Ministers of Agriculture & Fisheries took place in Saint Lucia from the 28th - 29th November, with a strong focus on elevating the performance of the agriculture and fisheries sector while also implementing climate resilience measures across the OECS. AN OPPORTUNITY FOR A DIFFERENT FUTURE REMARKS BY OECS DIRECTOR GENERAL AT 5th MEETING OF MINISTERS OF AGRICULTURE & FISHERIES Hon. Ministers of Agriculture and Fisheries of the OECS Development Partners in the subject matter Colleagues of the Commission We gather for the fifth time as the Council of Ministers of Agriculture but for the first time adding Fisheries to the matters under consideration. This meeting takes place in a very different context from our last meeting – it is Post Maria time and now the lessons of that season of destruction must be factored into all that we do going forward. As destructive and painful as the past few months have been, the lessons of that experience – if learnt and applied – can end up signalling a positive chapter in the development history of the OECS. What are the lessons that can put us in that positive space? The overarching lesson is the opportunity to become climate resilient. This is not just about building more robust physical infrastructure. It is a multi-dimensional undertaking that involves OECSBusinessFocus

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closing the full circle of initiatives that ensures that whatever nature throws at us we are able to withstand. So it is not just about building back better but building in the right spaces – land use policies and spatial planning that protects our watersheds, that prohibits the construction (especially of domestic dwellings) in flood plains and areas prone to disaster. Climate resilience also applies to agriculture and fisheries. This disaster has highlighted the vital importance of agriculture to our survival and has opened the doors of possibility to a different, more sustainable, more strategic approach to the development of the sector. That the Government of Antigua & Barbuda has the challenge to this day of feeding 1,800 of its citizens from the island of Barbuda should be a sober reminder of the imperative of food security in the OECS. The total destruction of the agricultural sector of Dominica – formerly a breadbasket of the OECS – should cause us to carefully reflect on what we need to do to create a more resilient agricultural sector that is not simply geared to export but is also meeting the health and nutritional requirements of selfreliant people. Some of the initiatives that we had previously embarked upon such as the Agri-shipping initiative proved their value by enabling us to respond in a more timely and able manner to what could have been an unprecedented hunger challenge in the post hurricane period. Some of the initiatives that we have started since the disaster such as the Seedling Initiative currently underway in Dominica point www.oecsbusinessfocus.com

us in new directions for the future. To date in excess of 130,000 seedlings of high nutritious value and fast yield crops such as kale, cabbage, lettuce, cucumber, string beans, sweet potatoes etc have been incubated and distributed to farmers and individuals wishing to undertake their own backyard production. Many of these farmers have been provided with an organic fertilizer made from Sargassum seaweed donated by Algas Organics â&#x20AC;&#x201C; the first indigenous Caribbean agriculture biotech company led incidentally by one of the OECS 30 Under 30 Youth Entrepreneurs Johanan Dujon. The seedling initiative will be expanded to Anguilla and to the BVI to help jumpstart the move to food sufficiency. I would like to take this opportunity to publicly express our deepest appreciation to the multilateral agencies and Diplomatic partners who extended their helping hands so generously to the hurricane impacted Member States particularly on the food and agriculture front. Special thanks to the Governments of Venezuela, Cuba, Morocco, France, Mexico, Belgium and to the UN FAO, CARDI, IICA and the European Community. This meeting therefore is of great importance in reviewing where we at and in charting the way forward for new approaches to the development of agriculture and fisheries in the OECS. And we need to acknowledge the material support of CME Project and the CLME+, without which we would not have been able to host this meeting.

We have had the consistent support of FAO, CARDI and IICA in this period and the stage is now set for us to consolidate these partnerships and hold hands stronger with vital regional organizations such as the Caribbean Regional Fisheries Mechanism, and other initiatives such as the UK Commonwealth Marine Economies Program. It is important that we ensure that all initiatives in the sector are converged around the objectives of our economic union so that we are not executing programmes such as the CLME+ project and our major Caribbean Regional Oceanscape Project with the World Bank as isolated initiatives but as a multilateral assault on the challenges that we face. As we go forward Hon Ministers, we need to both tighten and widen the circles of active collaboration in the agricultural sector, starting with yourselves and extending downwards to establish stronger collaborative relationships among professionals at the Ministry level. And we also need to extend sideways to stakeholders in the farming and commercial communities. With a food import bill in excess of three quarter billion US dollars, and with the opportunity to reconstruct the OECS agricultural sector in a climate smart and organic model of production linked to value added agro processing, the future is bright. The future however only belongs to those who build it! Â¤

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Fort-de-France Declaration on Health: A commitment to Regional Solidarity in the OECS

Fort-de-France Declaration on Health: A commitment to Regional Solidarity in the OECS We the OECS Ministers of Health attending the fourth (4th) Meeting of the Council of Ministers Health held at Fort de France in Martinique on November 10th 2017;

Building on 31 years of pooled procurement of medicines and medical supplies and a history of regional responses to infectious, communicable diseases including HIV and TB within the OECS;

Acknowledging the right to the enjoyment of the highest attainable standard of physical and mental health as articulated by the World Health Organisation;

Desirous of pursuing regional approaches to the growing problem of non-communicable diseases within the region;

Recognising the social and economic cost of disease and disability, as well as the rising cost of Health Care Services and the susceptibility of vulnerable populations in the Member States of the Organisation of Eastern Caribbean States; Cognisant of the vulnerabilities of our Member States to health emergencies, including outbreaks, climate change and natural disasters; Recognising health as an economic contributor and a driver of investor and visitor confidence in our region; Recalling the Revised Treaty of Basseterre establishing the Organisation of Eastern Caribbean States Economic Union, free movement in Protocol Member States, a common approach to social policy and an emphasis on functional cooperation; Noting the right of OECS citizens of the Protocol Member States to access primary and secondary public healthcare services in all Protocol Member States; Recalling the desire of Protocol Member States to undertake a co-operative approach to develop sustainable and resilient health systems, policies and infrastructure; Cognisant of the 2030 health related Sustainable Development Goals; Noting that “A Healthy Caribbean” is one of the four priority areas in the United Nations Multi—Country Sustainable Development Framework in the Caribbean (UN MSDAF- Caribbean) 2017-2021;

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Understanding the need for the consideration of Health In All Policies; Endorsing the four pillars of the OGDS Health Agenda 2017 to 2030 1. Healthy Environments and Health Empowerment 2. Equity in Access to Sustainable Quality Healthcare Services 3. Accessible Information for Strategic Governance of Health Systems 4. Long-term Investment in the Health Sector. Now therefore, we commit to the following actions through existing or new mechanisms geared toward the realization of Health for All: 1. Share Health Human Resources 2. Facilitate pooled procurement of health equipment and services 3. Collect and share the relevant information to drive the strategic direction of health including quality and outcome indicators 4. Develop and implement common policy and legislative approaches in health 5. Develop and disseminate common messages on healthy living 6. Create healthy environments through appropriate planning, development and community engagement 7. Prioritise prevention and primary care particularly for NCDs 8. Share access to specialized services 9. Jointly prepare for and respond to health emergencies. 10. Share Best Practices and conduct common research ¤

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Health in the OECS, Our Reliance on Resilience

Health in the OECS, our reliance on resilience (by Dr. Carlene Radix- Head, Health Unit at OECS Commission Resilience is a term used across many sectors with specific definitions. Simply put, however, resilience is the ability to respond to and recover from a shock or crisis, while continuing to maintain regular functions. Health Systems Resilience has been a popular term in health literature over the last 3 years, surfacing during and following the catastrophic outbreak of the Ebola virus in West Africa (Kruk et al. 2015). As the local, regional and global health systems struggled to contain Ebola in West Africa, there was a devastating impact on the local health systems and ongoing healthcare delivery to the population. Images of persons lying on the streets outside hospitals awaiting care and stories of harrowing experiences flooded social media. One story that stood out was that of a healthcare worker turning her home into an isolation and treatment facility, using makeshift materials, to care for her family (By Elizabeth Cohen 2014). Here in the OECS, Ministers of Health formed a bond in the process of preparation for the potential threat of Ebola through regular virtual policy meetings coordinated by the OECS Commission. In 2016 Heads of government, further spurred on by outbreaks of Zika and Chikungunya, prioritised the realisation of an OECS Health Unit. In April 2017, the Health Unit became operational just months before hurricanes Irma, Jose and Maria delivered a massive shock to the national and regional health systems. The damage in Dominica, just one of the five OECS Member States significantly affected by the category five hurricanes, has been estimated by the post disaster needs assessment at US$931 million (“resilientcaribbean.caricom.org” 2017.). No number, however, could do justice to the utter devastation – and the health system was not spared. The images and stories on social media showed the destruction of over 90% of homes and buildings, including homes of health workers. While healthcare facilities, being more appropriately prepared, fared better than the average structures, half of the main hospital building and a third of the primary care facilities were severely damaged. The hospital’s backup generator failed and this took 2-3 days to be restored. A nurse based in a community with an unusable health facility had to use ingenuity

and temporarily set up shop in a more intact structure in the community. As is expected after such an event, the health system not only has to continue its operations but also has to respond to the obvious health needs following the disaster. The increasing frequency and intensity of extreme weather events, and the related population-wide infectious disease outbreaks in the Eastern Caribbean, has put resilience at the forefront of our health systems. The Eastern Caribbean does not have the luxury of the skepticism in articles entitled “Health systems resilience: meaningful construct or catchphrase” (Haldane et al. 2017) and presentations entitled “Resilience should not be the primary objective of a health system.”(Chang, Angela Y. 2016) Resilience is now the primary objective of not only our health systems but all systems, and following the devastation of hurricane Maria, Dominica is poised to become the first climate resilient nation. As small island developing states caught up in the crisis of climate change, resilience is a matter of our survival.

Taking a page from the physical concept of resilient materials, our health systems need not only to have elasticity, i.e. the ability to stretch in response to stress and return to its original form, but they must also have plasticity. When stress goes beyond the threshold, the impact and change on the system will be permanent, and should be so in a way that addresses the changing needs. As we focus on resilience of the systems we must go beyond disaster preparation, spatial planning, buildings and equipment. We must use technology to change our processes including the use of drones for delivery of emergency treatments and laboratory samples, and the use of telemedicine to extend expertise to areas cut off due to physical or infectious isolation. We must take advantage of the regional human resource surge capacity by investing in the integration of our health systems. The Ministers of Health in the OECS have set the strategic direction with the Fort de France Declaration on Health in November 2017, committing to ten actions to promote regional integration in health (“Fort-de-France Declaration on Health” 2017). ¤

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OECS COMMISSION

OECS Prepares For ‘Cloaud for Development (C4D)’ Pilot

OECS Prepares for ‘Cloud for Development (C4D)’ Pilot The OECS is moving towards the implementation of disasterproof innovation and infrastructure with the pilot of the World Bank’s Cloud for Development (C4D) project in Member States. C4D is a joint OECS Commission, World Bank and Amazon Web Services (AWS) initiative that aims to enable national statistical offices (NSOs) and the rest of the public sector in developing countries to securely store, access, analyse and share survey and administrative data. The OECS Commission in collaboration with the World Bank recently convened a C4D conference at the Cocoa Palm Hotel in Gros Islet, Saint Lucia, from 13 to 15 November 2017, to confirm the feasibility for piloting the C4D project within the OECS Member States. Specific objectives were: 1. to present a set of tools that are available on the cloud; 2. to share the experiences of countries that have already been using cloud storage to store and, analyse their data; and 3. to discuss legal issues related to hosting sensitive data on the cloud. The World Bank, leading this initiative, will partner with major global cloud providers such as AWS, Microsoft and Google to develop and test the technological and legal frameworks to introduce cloud computing to the Member States. Michael Lokshin, Lead Economist and Manager in the Development Data Group of the World Bank, acknowledged the technical challenges and risks associated with cloud computing technology and proposed “public-private partnership for resilient digital infrastructure.” He said “NSOs’ reliance on local IT infrastructure makes the hardware and software highly vulnerable to natural disasters.” The cloud for development initiative is consistent with the OECS Regional Strategy for the Development of Statistics (RSDS). The RSDS has five strategic priorities, one of which is to “join the data revolution” – this calls for exploring and exploiting the information technology more aggressively and innovatively than ever before. Modern ways of collecting/capturing/gathering, integrating, accessing and storing data are fundamental to this priority. OECSBusinessFocus

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Dr. Gale Archibald, Head of the Statistical Services Unit at the OECS Commission said “the cost-benefit analysis of cloud computing justifies the move from server-client model to using virtual space for data storage.” Mr. Pierre Bowrin, ICT Policy Advisor for the Government of St. Kitts and Nevis, welcomed the C4D workshop as an opportunity to engage industry leaders such as Amazon Web Services on Cloud Computing. “Such emerging technologies can potentially accelerate subregional and regional efforts towards the development of a single ICT space.” “The technology would allow the region to establish a regional Government Enterprise Architecture that is aligned with the ISO 27001 - Information Security Management and ISO 27032 digital Cyber-security international standards,” he added. One of the main attributes of the C4D initiative is to provide support to achieve two targets under Sustainable Development Goal 9: Industry, Innovation and Infrastructure – Build resilient infrastructure, promote sustainable industrialisation and foster innovation. Specifically, countries can expect to pursue target 9b “Support domestic technology development, research and innovation in developing countries…” and target 9c “Significantly increase access to information and communications technology and strive to provide universal and affordable access to the internet in least developed countries by 2020.” The workshop was attended by representatives from the NSOs, from ministries and organisations responsible for Information and Communication Technology, public sector transformation, geospatial information systems specialists, and legal officers across the region. Staff members from the Statistical Services Unit, ICT Unit and Legal Unit of the OECS Commission were also in attendance. The conference was funded by the World Bank, with support from the Caribbean Development Bank for OECS Member States that are not members of the World Bank. ¤

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OECS 30 Under 30 Award Winner: How Johanan Dujon Built An Agricultural Biotech Company in St Lucia

OECS 30 Under 30 Award Winner: How Johanan Dujon Built An Agricultural Biotech Company in St Lucia Reproduced courtesy of Kimron Corion Contributor to the Huffington Post - ‘How they did it Series’ Today on “How They Did It” I talk to 24 year old St Lucian entrepreneur Johanan Dujon. Founder of Algas Organics, the Caribbean’s first indigenous agriculture biotech company. We talk about his life as a physical education teacher and how he got involved in entrepreneurship and some of the obstacles such as access to finance and age that he had to overcome. Tell me a little about who you are? My Name is Johanan Dujon, a 24-year-old inventor and entrepreneur from St. Lucia. I am the founder and managing director of Algas Organics, the Caribbean’s first indigenous agriculture biotech company. What is your business about? Algas Organics specializes in the formulation and production of organic agricultural inputs, geared at improving plant resilience to climate change and increasing yields. The company presently manufactures its flagship product; the Algas Total Plant Tonic, an all natural bio-stimulant made from Sargassum seaweed, using proprietary technology. Through this innovation, Algas Organics utilizes massive quantities of seaweed, thereby removing build ups which block off fish landing sites and emit harmful hydrogen sulfide (H2S) gas, affecting coastal communities and the livelihoods of fishermen. Our products are used for a wide range of applications, from landscaping and horticulture to backyard gardening and commercial farming. What were you doing before you started your business? I was a physical education teacher at the St. Aloysius RC Boys Infant School, however, my passion has always been business. So, I would teach from 9-2:30 and work from 2:30 to 12 in the morning, developing business plans and strategies to start up a company and eventually leave the profession. I recall reading Rich Dad Poor Dad by Robert Kiyosaki at age 10 and thinking, I want to create wealth for generations to come and not struggle in the rat race. This inspired me more than I thought from an early age. So, at 16, I started off importing reconditioned Blackberry’s and selling them at a steal of a price via an online group on Facebook. Eventually, I started facing stiff competition and encountering some shady characters, who would order phones and not pay for them when it arrived, if they got a better deal elsewhere. So, I quit this business and decided that the next one I start, I will be the one making the product or I would sell directly to another organization (B2B) rather than individuals. What inspired you to start your Business? Sargassum seaweed began to cause problems in St. Lucia and the wider Caribbean in 2014. I approached the relevant authorities and pitched the idea to research potential uses of the seaweed rather than disposing of it. The response was “this is a national

issue, not the issue of our agency.” I wasn’t discouraged but rather inspired. I saw a major opportunity to convert this “seaweed crisis” into an organic line of agrochemicals which would in turn green the agriculture industry in St. Lucia and beyond. This jolted me into action. I wanted to prove that the solutions to the problems we face in the Caribbean do not always have to come from outside. I wanted to challenge the “sitting duck” mentality in the Caribbean, that we cannot create world-class products and solutions which can leave an indelible mark on the world. What obstacles did you face in starting your business and how did you overcome them? 1- Access to finance/Investment Readiness- Banks in the Caribbean are notoriously unhelpful to start-ups. Although I was bitter about this initially, I can’t blame them either. Banks like any investor want to see your traction and growth before injecting any money into the venture. I had to overcome the “Banks don’t like us” ideology and switch to “let’s get some traction first and build a successful model on a small scale, which they can’t refuse !”. So I had to bootstrap, build a scalable model which generated some money (sounds easy but what that meant was being broke, using loans from family and income from a sister business to fund Algas Organics). Eventually, my credit union trusted me enough to lend me money (the banks still didn’t bite, but that’s ok. It’s not supposed to be easy!). 2- Being taken seriously- I am a 24-year-old, who owns an agriculture biotech company which manufactures products that outperform leading international billion-dollar brands. People don’t believe it, and sometimes I don’t either. The way I overcame this is being professional and knowing everything I can about my industry. People trust you when you know what you are talking about. Especially when you’re very young. Integrity and a good reputation which precedes you is key. Whats next for you and your business? I’ve been invited to do a TEDx Talk in December. I’m really excited about that. You’ll be seeing much more of me in the coming months and years if God spares. Look out for the Algas Brands in a few more Caribbean territories by the end of this year into 2018 and potentially Amazon also! What is your best advice for young people looking to start a similar business? It has been said so many times, but I can’t emphasize it enough. Ensure that you are passionate about whatever business you are going into. I didn’t understand why that was important initially, however, when the challenges come (not if, when !) if you are not obsessed with/in love with your business or fighting for a cause you believe in, then don’t do it. Be meticulous, take pride in your brand, don’t cut corners, ignore the naysayers (some of them may be more qualified than you are, but they haven’t created anything) and keep your customers HAPPY! Find out more about Algas Organics here. Follow them on Facebook and Instagram @algasorganics. ¤ OECSBusinessFocus Jan / Mar

Governance Guru BUSINESS FOCUS

A Wish List for Caribbean Directors

A Wish List for Caribbean Directors By Dr. Chris Bart, FCPA, FCIoD

Every year, countless letters are sent to the North Pole, carrying wishes to St. Nick for the perfect Yuletide gift. In the spirit of the 2018th corporate governance season now underway in the Caribbean, here’s a peek at a wish list I prepared on behalf of all stakeholders for the ideal Caribbean corporate governance gift. Dear Santa, I know it’s kind of late and that you must be exhausted after a whirlwind global journey just a little while back. However, I’m sure I’m not the only letter to arrive in your mailbox after the deadline. And because you are such a thoughtful and resourceful individual,

Dr. Chris Bart, FCPA, F.CIoD is a recognized global governance authority and Co-Founder of the Caribbean Governance Training Institute. The Institute is the first to offer throughout the Caribbean an intensive 3 day governance program leading to the prestigious and internationally recognized Chartered Director (C.Dir.) designation. For more information visit CGTI’s website: http:// www.caribbeangovernancetraininginstitute.com/ or phone Lisa at 758 451 2500 OECSBusinessFocus

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I know that you will give careful consideration to accommodating the following 10 requests…..please Santa? 1. Caribbean Directors that are selected through a rigorous process, not simply by virtue of their membership in any political party or social registry. Caribbean Directors ought to be appointed because their qualifications match the needs of the organizations they serve. All stakeholders benefit when Caribbean organizations are led by directors whose business acumen enhances executive decision-making and improves organizational performance. 2. Caribbean Directors who are independent. Directors should understand that their role is not to simply rubberstamp management’s ideas. Rather, their duty is to ensure that the systems, structures, processes, values, relationships and behaviours that comprise good governance are in place. 3. Caribbean Directors with the strength to truthfully and objectively assess the value of their CEOs and other senior managers. Strong directors stand the best chance of ensuring that executive compensation is appropriate and they will not capitulate to unreasonable salary demands from the executive suite. 4. Caribbean Directors with more than just their shareholders interests in mind. Stakeholders whose interests must be considered now include: employees, the community, the environment, and future generations. Enlightened directors www.oecsbusinessfocus.com

go above and beyond mere compliance to meet the spirit of good governance. 5. Caribbean Directors who anticipate and adapt to major change. For too many organizations, it took the scandals of the past few years for them to take good governance seriously. Attempting to overhaul an organization’s operations in response to a crisis is not the desired approach. Directors must have finely tuned antennae to foresee change. 6. Caribbean Directors who understand that good governance is a competitive advantage. Studies by McKinsey and others have shown that investors are willing to pay a premium for companies that exemplify good governance and, conversely, will extract a discount from those perceived to be poorly governed. 7. Caribbean Directors who are well trained and prepared for the job. Candidates must be highly qualified, but that does not mean they need no additional training to be effective in the role. The organization as a whole benefits when directors enroll in professional development programs, like the one offered by the Caribbean Institute of Directors, which are designed to provide the skills necessary for success. 8. Caribbean Directors from diverse backgrounds. Traditional searches for directors lead back to the same old places, often ignoring untapped talent pools. Research by myself and others has confirmed that there are real financial, and cultural benefits accruing to boards that value diversity in the boardroom and especially in the contributions that women make to the Board’s decision making process. 9. Caribbean Directors who undergo performance reviews. Everyone from the mailroom clerk to the CEO gets an annual evaluation. Accordingly, given the responsibility that directors are expected to carry, and the compensation they receive in return, it only makes sense that there be some measure of how well they function. Directors need to be paid for their performance, not simply for their presence. 10. Finally, Santa, there should be recognition for those directors who are leading the way in governance reform in the Caribbean. Especially those who have already taken the steps necessary to become certified directors, earning their Chartered Director designation. It would be nice if you could bring them an extra treat [although the improved organizational performance, satisfied investors, harmonious work environment and enhanced corporate leadership their organizations enjoy may be reward enough]. Thank you for your attention, Mr. Claus, and don’t forget to leave a lump of coal for those Caribbean directors who need to seriously ‘up their game’ this year. Yours truly,

Post script to my readers. It has been an absolute joy for me to write this column since the inception of the OECS Business Focus magazine. I hope you have enjoyed reading what I’ve written as much as I have enjoyed writing it. And on that note, I will conclude this article by saying, as I always do: the way to build better boards is by having better informed directors. If you think that there is room for improvement in the way your fellow board members govern your organization, you might want to suggest that they consider going to one of the Corporate Governance Training Programs currently available in the region – like the extraordinarily unique 3 day Chartered Director Program (“C. Dir.”) currently being offered exclusively by The Caribbean Governance Training Institute. Over 500 Caribbean Directors have attended this program to date (including all the Governors of the ECCB and the entire Government of Saint Lucia!) By attending programs like this one, your organization’s stakeholders would then know that their interests are being represented not just by individuals with successful track records in business, but also by men and women who have the governance qualifications - and the certification necessary for effective board leadership and oversight of their organization’s strategic activities.After all, it’s not education which is expensive, but rather ignorance.

Listed Below is a Schedule of Upcoming Programs Understanding the governance roles, legal duties and essential responsibilities of every director and Board, learning the board behaviours required to make for a great Board culture and effective Board meetings.

March 5, 2018

Jamaica Chartered Director Program (C.Dir.)

April 30, 2018

St. Kitts & Nevis Audit Committee Certification Program (ACC)

May 28, 2018

Bahamas Chartered Director Program (C.Dir.)

July 9, 2018

St. Lucia - 5th Annual Corporate Governance Conference

September 17, 2018

Turks & Caicos Chartered Director Program (C.Dir.)

November 5, 2018

Antigua Audit Committee Certification Program (ACC) For more information visit:

http://www.caribbeangovernancetraininginstitute.com

or phone Lisa at 1-758-451-2500 ¤

Chris Bart

OECSBusinessFocus Jan / Mar

A global vision and a local focus are not mutually exclusive. KPMG

Taking on today’s business complexities requires deep expertise, in your own back yard and around the world.

Antigua and Barbuda Lisa Brathwaite T: +1 268 725 6986 E: lmbrathwaite@kpmg.ag Saint Lucia Louisa Lewis-Ward T: +1 758 5764 E. louisaward@kpmg.lc St. Vincent and the Grenadines Brian Glasgow T: +1 784 451 1300 E: baglasgow@kpmg.vc

Anticipate tomorrow. Deliver today.

© 2018 KPMG, a Barbados and Eastern Caribbean partnership, registered in Barbados, Antigua and Barbuda, Saint Lucia and St. Vincent and the Grenadines, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. KPMG and the KPMG logo are registered trademarks of KPMG International Cooperative (“KPMG International”), a Swiss entity.

Celebrating 10 Years of Innovation

OECSBusinessFocus Jan / Mar

PAYOUTS TO DATE

DOMINICA

Earthquake 29 November Policy: Earthquake

US$528,021 SAINT LUCIA

Payouts To Date

Earthquake 29 November Policy: Earthquake

TURKS & CAICOS ISLANDS

US$418,976

Tropical Cyclone Ike Policy: Tropical Cyclone

US$6,303,913

2007

HAITI

Earthquake 12 January Policy: Earthquake

US$7,753,579 ANGUILLA

SAINT LUCIA

Tropical Cyclone Earl August Policy: Tropical Cyclone

Tropical Cyclone Toma October Policy: Tropical Cyclone

US$4,282,733

US$3,241,613 BARBADOS

ST. VINCENT & THE GRENADINES

Tropical Cyclone Tomas October Policy: Tropical Cyclone

Tropical Cyclone Toma October Policy: Tropical Cyclone

ANGUILLA

Tropical Cyclone Gonzalo October Policy: Excess Rainfall

US$493,465

Trough System 7-8 November Policy: Excess Rainfall

US$1,055,408

2010

US$8,560,247

US$1,090,388

ST. KITTS & NEVIS

2008

2014

Trough System 7-8 November Policy: Excess Rainfall

US$559,249 BARBADOS

Trough System 21 November Policy: Excess Rainfall

US$1,284,882

2015

DOMINICA

Tropical Storm Erika August Policy: Excess Rainfall

US$2,402,153

A TOTAL OF

36 PAYOUTS

Made to 13 Member Governments

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TOTAL PAYOUTS

US$130.5 MILLION

June 2007 â&#x20AC;&#x201C; October 2017

All payments

made within

DAYS

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NICARAGUA

Earthquake Earthquake 99 June June Policy: Policy: Earthquake Earthquake

Tropical Tropical Cyclone Cyclone Otto Otto November November Policy: Policy: Tropical Tropical Cyclone Cyclone

US$500,000

US$1,110,193

ST. VINCENT & THE GRENADINES Tropical Tropical Cyclone Cyclone Matthew Matthew September/October September/October Policy: Policy: Excess Excess Rainfall Rainfall

US$285,349

BARBADOS

Tropical Tropical Cyclone Cyclone Matthew Matthew September/October September/October Policy: Policy: Tropical Tropical Cyclone Cyclone

US$975,000

Policy: Policy: Excess Excess Rainfall Rainfall

US$753,277

SAINT LUCIA

BELIZE

US$3,781,788

US$261,073

Tropical Tropical Cyclone Cyclone Matthew Matthew September/October September/October Policy: Policy: Excess Excess Rainfall Rainfall

Tropical Tropical Cyclone Cyclone Earl Earl August August Policy: Excess Rainfall Policy: Excess Rainfall

HAITI

Tropical Tropical Cyclone Cyclone Matthew Matthew September/October September/October Policy: Policy: Tropical Tropical Cyclone Cyclone

Policy: Policy: Excess Excess Rainfall Rainfall

US$20,388,067

2016

US$3,020,767

ST. KITTS & NEVIS

ANGUILLA

US$2,294,603

US$6,529,100

Tropical Tropical Cyclone Cyclone Irma Irma September September Policy: Policy: Tropical Tropical Cyclone Cyclone

TURKS & CAICOS ISLANDS

Tropical Tropical Cyclone Cyclone Irma Irma September September Policy: Policy: Tropical Tropical Cyclone Cyclone

US$13,631,865

2017 2017

Policy: Policy: Excess Excess Rainfall Rainfall

US$1,232,769

Policy: Policy: Excess Excess Rainfall Rainfall

US$158,823

Tropical Tropical Cyclone Cyclone Maria Maria September September Policy: Policy: Tropical Tropical Cyclone Cyclone

US$419,372 ANTIGUA & BARBUDA

DOMINICA

Tropical Tropical Cyclone Cyclone Maria Maria September September Policy: Policy: Tropical Tropical Cyclone Cyclone

US$19,294,800 THE BAHAMAS

Tropical Tropical Cyclone Cyclone Irma Irma September September Policy: Policy: Excess Excess Rainfall Rainfall

US$163,598

ST. VINCENT & THE GRENADINES

Tropical Tropical Cyclone Cyclone Maria Maria September September Policy: Policy: Excess Excess Rainfall Rainfall

US$247,257

TOTAL FOR THE PERIOD

June June 2007 2007 -- October October 2017 2017

US$130,467,630

Policy: Policy: Excess Excess Rainfall Rainfall

US$1,054,022 BARBADOS

Tropical Tropical Cyclone Cyclone Maria Maria September September Policy: Policy: Excess Excess Rainfall Rainfall

US$1,917,506

Tropical Tropical Cyclone Cyclone Irma Irma September September Policy: Policy: Tropical Tropical Cyclone Cyclone

US$6,794,875 SAINT LUCIA

Tropical Tropical Cyclone Cyclone Maria Maria September September Policy: Policy: Excess Excess Rainfall Rainfall

US$671,013

TRINIDAD & TOBAGO

Rainfall Rainfall Event Event 18-20 18-20 October October Policy: Policy: Excess Excess Rainfall Rainfall

US$7,007,886

TOTAL FOR TROPICAL CYCLONE TOTAL FOR EARTHQUAKE TOTAL FOR EXCESS RAINFALL

US$94,916,769 US$9,200,576 US$26,350,285

OECSBusinessFocus Jan / Mar

BUSINESS FOCUS

Increasing Capacity For Disaster Risk Reduction

CCRIFâ&#x20AC;&#x2122;s Technical Assistance Programme

CRIF is committed to supporting the Caribbean it its efforts to improve national and regional resilience to natural hazards and climate change. In 2010, the facility launched its Technical Assistance (TA) Programme, which was designed to provide an ongoing mechanism for grant support within the Caribbean region for capacity building initiatives and the development and implementation of projects to improve the effectiveness of risk management.

The main aim of the TA Programme is to assist Caribbean countries deepen their understanding of natural hazards and catastrophe risk, and the potential impacts of climate change on the region. The Programme has three components as follows: OECSBusinessFocus

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Component 1 - focuses primarily on support for tertiary level scholarships as well as support for professional development programmes Component 2 - focuses on regional knowledge building and involves on one hand, the development and implementation of strategic regional projects in support of disaster risk management (DRM) and other areas of direct and indirect interest to CCRIF Component 3 - is centred on support for local disaster risk management projects and programmes

CCRIF-UWI Scholarship Programme The University of the West Indies (UWI) is the Caribbean’s top university, renowned for world class higher education, internationally recognized accredited degrees and research. Through the CCRIF-UWI Scholarship Programme, CCRIF provides scholarships to post-graduate and undergraduate students who are pursuing study at the University in areas related to disaster management at all three of its residential campuses (Mona, Jamaica; Cave Hill, Barbados and St. Augustine, Trinidad & Tobago). The value of each post-graduate scholarship is US$11,000 and each undergraduate scholarship US$8,000 (US$4,000 per year for two years – second and final years of study).

CCRIF Scholarship Programme The CCRIF Scholarship Programme provides up to four scholarships per year for study in master’s programmes in areas related to disaster risk management at universities in the United States, United Kingdom and Canada as well as at universities (other than UWI) in Caribbean countries. Scholarships are valued up to a maximum of US$40,000 (for extra-regional universities) or US$20,000 (for Caribbean institutions). Graduates have gone on to work in national institutions in areas related to the environment, finance, planning, development and climate change.

Regional Internship Programme CCRIF flagship professional development programme is its Regional Internship Programme, which was launched in 2015. It is designed to provide opportunities for students who have specialized in the areas of disaster risk management, environmental management, actuarial science, geography, climate studies and other similar areas to be assigned to regional and national organizations to enhance their educational experience through practical work assignments at national and regional organizations. Host organizations include the Caribbean Disaster and Emergency Management Agency (CDEMA), Caribbean Development Bank (CDB), Caribbean Community Climate Change Centre (CCCCC), Caribbean Institute of Meteorology and Hydrology (CIMH), University of the West Indies (UWI) and national meteorology and disaster management agencies. OECSBusinessFocus Jan / Mar

BUSINESS FOCUS

at CIMH

at UWI DRRC

CCRIF Interns at Work

at UWI CMS Discovery Bay Lab

CCRIF Interns at Work at Barbados DEM

at the CARICOM Secretariat

at CDEMA

Partnerships with Regional Organizations CCRIF recognizes the critical role of establishing partnerships and works with organizations at the regional and international levels on collaborative projects that are designed to develop institutional enabling environments and regional supporting mechanisms for knowledge sharing, scaling up good practices, capacity building and technology.

CCRIF has current or previous agreements/MoUs with:

Highlights â&#x20AC;&#x201C; Some MOU Outputs UWI SRC installed or updated 15 strong motion sensors in Grenada, Barbados, Saint Lucia, Dominica, Antigua, St. Kitts, Nevis, St. Vincent and Jamaica OECS Commission created community disaster risk reduction strategies for vulnerable and low-income communities in Saint Lucia and St. Vincent and the Grenadines CCCCC is revising the regional strategic framework for climate change to respond appropriately to the Paris Agreement from COP 21 ECLAC has assessed its Damage and Loss Assessment Methodology and its linkages to the Post-Disaster Needs Assessment with a view to increase capacity in disaster assessment

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Country Risk Management In May 2017, the Caribbean Development Bank and CCRIF SPC launched the Integrated Sovereign Risk Management in the Caribbean project. This project seeks to enable all Caribbean countries to take a more proactive approach towards country risk management, moving beyond planning for natural disaster risks such as climate change and events like hurricanes and earthquakes and recognizing the intrinsic linkages between disaster risk and other types such as economic, technological and financial risks and the impacts of these on socioeconomic development, especially.

Left to right: Mr. Anthony Isaac, CEO, CCRIF SPC; Dr. William Warren Smith, President, CDB and Mr. Malcolm Buamah, Chief Risk Officer, CDB

CCRIF Small Grants Programme The CCRIF Small Grants Programme was launched in March 2015. It provides financing for small projects by non-governmental organizations (NGOs), community-based organizations (CBOs), charity organizations and academic institutions in local communities across CCRIF member countries and/or CARICOM member countries. Projects have focused on conservation agriculture for climate change adaptation; reforestation and watershed management; development of community disaster plans; training of farmers in climate-smart agriculture; and flood mitigation through construction of dams and drains, among others.

Special Assistance for Post-Event Recovery and Rehabilitation Efforts The CCRIF Board has provided targeted technical assistance and support to governments following the occurrence of certain natural hazard events which significantly affected member countries. CCRIF has provided •

rainfall and flood prediction products after the 2010 earthquake in Haiti

•

assistance to the Government of Belize to enable the Meteorological Service to build its capacity – including providing scholarships to two meteorologists at the Meteorological Service

•

a grant to Fondation Amour de Dieu (FADA), a humanitarian NGO in Haiti, for a project focusing on soil conservation of flooded arable lands – after Hurricane Sandy in 2012

•

a grant to the Government of Jamaica to support the rehabilitation of residential childcare facilities which were damaged by Hurricane Sandy

•

a grant to construct a new sea wall at Sandyport Beach, The Bahamas to strengthen coastal defences damaged by Sandy

•

a grant to the Government of Dominica to support the construction of fencing at the national airport damaged by Tropical Storm Earl in 2015, which was necessary to maintaining the airport’s certification by the regulatory authority.

•

a grant to the Government of Belize to install automatic weather stations OECSBusinessFocus Jan / Mar

BUSINESS FOCUS

Small Grants Programme

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Regional Internship Programme

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BUSINESS FOCUS

Scholarship Programme

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CCRIF- UWI Scholarship Programme

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BUSINESS FOCUS

Journey Through The Years 2007-2017

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CCRIF receives the ‘Reinsurance Initiative of the Year’ Award for the reinsurance initiative that generated the most promising change to a significant area of business – the award was offered by The Review, the leading magazine of the international reinsurance industry

CARICOM Heads of Government approach the World Bank for assistance to design and implement a cost-effective risk transfer programme for member governments

Hurricane Ivan causes billions of dollars of losses across the Caribbean

CCRIF makes payout to Turks and Caicos Islands for Hurricane Ike

CCRIF makes the Real-Time Forecasting System (RTFS) available to members for the first time – each year it is available to members at the beginning of the Atlantic Hurricane Season

CCRIF is named ‘Transaction of the Year’ at the Insurance Day London Market Awards

2007 2004

2008

The Caribbean Catastrophe Risk Insurance Facility is formed as the first multi-country, multi-peril pooled catastrophe risk insurance facility in the world A Multi-donor Trust Fund (MDTF) is established to support CCRIF’s initial operations CCRIF provides tropical cyclone (hurricane) and earthquake coverage to 16 Caribbean member governments

CCRIF makes first payouts to Dominica and Saint Lucia for November earthquake

CCRIF signs first MOU with the Caribbean Institute for Meteorology and Hydrology (CIMH) – over the years, CCRIF has signed MOUs with the Caribbean Community Climate Change Centre (CCCCC), United Nations Economic Commission for Latin America and the Caribbean (ECLAC), Caribbean Disaster Emergency Management Agency (CDEMA), InterAmerican Development Bank (IDB), University of the West Indies (UWI), UWI Seismic Research Centre (SRC) the Commission of the Organisation of Eastern Caribbean States (OECS) and the Association of Caribbean States

June 2007 - October 2017

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CCRIF conducts a stakeholder assessment to determine from members and stakeholders how to enhance the operations of the facility to meet their needs, whilst at the same time achieving CCRIF’s vision and mission CCRIF’s secondgeneration (2G) hazard and loss estimation model (HLEM) is developed

CCRIF and partners offer course “Understanding and Using the CCRIF Real-Time Forecasting System” – which continues annually

UNFCCC declares CCRIF a best practice for climate change adaptation

2010 2009 CCRIF makes payout to Haiti for the devastating January earthquake

CCRIF and CIMH provide technical assistance to support reconstruction efforts in Haiti through development and use of rainfall and flood prediction products – recognizing the particular vulnerability of Haiti to heavy rainfall, which typically causes flooding and landslides in this highly deforested country

CCRIF makes payouts to Barbados, Saint Lucia and St. Vincent and the Grenadines for Hurricane Tomas and to Anguilla for Hurricane Earl

The Second-generation Hazard and Loss Estimation Model is revised and renamed the “CCRIF Multi-Peril Risk Estimation System” (CCRIF-MPRES)

2011 CCRIF launches its Technical Assistance Programme with scholarship programmes – 49 scholarships totalling almost US$800,000 awarded between 2010 and 2017: 43 within the CCRIF-UWI Scholarship Programme and 13 within the CCRIF Scholarship Programme for study at overseas universities

CCRIF releases preliminary results of study on the Economics of Climate Adaptation (ECA) in the Caribbean conducted by CCRIF and partners

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CCRIF receives the Captive Insurance Companies Association’s (CICA’s) Outstanding Captive Award – this annual award recognizes a successful captive insurance company that has shown creative uses for a captive, prevailed in difficult times, and has gained a positive reputation among rating agencies, regulators, and colleagues in the captive industry

CCRIF is recognized for “good innovative/nontraditional approach to reinsurance for emerging/ economically challenged countries” in Best’s Review January 2013 Innovative Showcase – a forum for “forward-thinking initiatives that are providing insurance organizations with measurable success”

CCRIF collaborates with MCII to offer the Livelihood Protection Policy (LPP) – a microinsurance product – to low-income individuals for coverage against extreme weather events in Saint Lucia, Grenada and Jamaica

CCRIF and the Caribbean Development Bank (CDB) host the First Donor Meeting to enhance coordination of CCRIF activities with donor and partner activities and country work programmes

CCRIF offers excess rainfall coverage to members

2012

2014 2013 The Caribbean Catastrophe Risk Insurance Facility is restructured as a segregated portfolio company and renamed CCRIF SPC

CCRIF provides grants for recovery projects to Jamaica, Haiti and The Bahamas, which were affected by Hurricane Sandy – for example, the Government of Jamaica used the funds to make repairs at the Muirton Boys’ Home

The World Bank completes the Implementation Completion and Results Report on CCRIF and rates CCRIF’s performance as Highly Satisfactory

CCRIF makes first excess rainfall payouts to Anguilla, Barbados and St. Kitts and Nevis for Hurricane Gonzalo and November rains The World Bank issues its first ever catastrophe (“cat”) bond to address earthquake and tropical cyclone risk in the 16 Caribbean CCRIF member countries

CCRIF hosts the 6th meeting of the World Forum of Catastrophe Programmes in Montego Bay, Jamaica

LPP policy holders in Saint Lucia – most of whom are small farmers – receive first payouts within two weeks after December 2013 rains

CCRIF conducts a stakeholder assessment to build on the 2011 assessment and obtain stakeholder views on the performance of the facility and to capture their insights within CCRIF’s strategic planning process towards meeting the needs of its members

Within the MOU with CCRIF, the Inter-American Development Bank publishes the report, “Understanding the Economics of Climate Adaptation in Trinidad and Tobago”

OECSBusinessFocus Jan / Mar

CCRIF launches its Regional Internship Programme and Small Grants Programme – to date, CCRIF has placed 66 interns at 22 regional and national organizations with an investment of over US$210,000 and awarded grants totaling almost US$210,000 to NGOs for 9 projects, 2 of which have been completed

CCRIF and CDB host the Second Donor Meeting

Nicaragua becomes the first CCRIF member from Central America

CCRIF makes payout to Dominica for Tropical Storm Erika

CCRIF signs an MOU with COSEFIN - the Council of Ministers of Finance of Central America, Panama and the Dominican Republic - to enable Central American countries to join the facility

CCRIF receives the award for Best Latin America Reinsurance Deal – for CCRIF’s cat bond – at Reactions 2015 Latin America Awards hosted by Reactions Information Services, the leading source of information for executives in the global reinsurance market

2015 United States President Barack Obama pledges resources to support CCRIF and other insurance facilities to increase climate risk insurance coverage to help respond to severe climaterelated impacts

The G-7 announces action to support efforts by vulnerable developing countries to manage climate changerelated disaster risk through insurance, by building upon existing risk insurance facilities such as CCRIF

Within the MOU with CCRIF, UWI Seismic Research Centre completes project to extend and enhance the network of strong motion recording instruments in the Eastern Caribbean and Jamaica – 15 stations are installed or upgraded in Barbados, Jamaica and 6 OECS Within the MOU with CCRIF, OECS develops strategies and action plans for increasing resilience in vulnerable communities in Saint Lucia – which has been repeated in St. Vincent and the Grenadines

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CCRIF’s second-generation excess rainfall model known as XSR 2.0 is developed

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CCRIF launches its 10th anniversary celebrations CCRIF begins development of products for drought, agriculture and fisheries

CCRIF provides a grant to the Government of Belize to purchase automatic weather stations that will provide the Meteorological Service with access to real-time rainfall data, which will significantly improve the Government’s ability to monitor, record and forecast rainfall and better prepare for hydrometeorological events

The European Commission and World Bank sign a €14 million agreement to be executed by the Multi-Donor Trust Fund to facilitate access to catastrophe risk insurance for the governments of Central American countries and the Dominican Republic by becoming members of CCRIF

2016

CCRIF provides a grant to the Trinidad and Tobago Meteorology Service to host the Fifth National Climate Outlook Forum

CDB and CCRIF launch the Integrated Sovereign Risk Management in the Caribbean initiative

2017

CCRIF SPC wins award for Best Sustainable Insurance Leadership – Latin America & Caribbean in Capital Finance International’s Sustainable Insurance Awards

CCRIF provides a grant to the Government of Dominica to support rehabilitation of the Douglas Charles Airport damaged during the passage of Tropical Storm Erika in 2015

CCRIF makes first payouts to a Central American member – Nicaragua – for June earthquake and Hurricane Otto

CCRIF makes its largest payout to Haiti for Hurricane Matthew – also makes payouts to Barbados, Saint Lucia and St. Vincent and the Grenadines for Hurricane Matthew and Belize for Hurricane Earl

CCRIF launches its Training Programme for government officials, disaster managers and meteorological officers with first delivery in Saint Lucia – this 2-day course will be offered to each CCRIF member country and has been delivered in 5 countries to date CCRIF SPC makes payouts totalling US$61 million to 10 member countries after Hurricanes Irma and Maria and a rainfall event in October

CCRIF’s new model for tropical cyclones and earthquakes is developed, known as SPHERA (System for Probabilistic Hazard Evaluation and Risk Assessment)

Mexico and the Caribbean Development Bank approve a grant of US$14 million to CCRIF to provide enhanced insurance coverage for member countries

OECSBusinessFocus Jan / Mar

CCRIF Snapshot

OECSBusinessFocus Jan / Mar

BUSINESS MONEY MATTERS FOCUS

Bank Group Year-End Profits Up 5.8% Republic BankRepublic Group Year-end Profits Up 5.8% The Group’s total assets stood at $68.9 billion at September 30, 2017, an increase of $2 billion or 3 per cent over that of 2016. Republic’s Chairman, Ronald Harford, in announcing the results, said, “The growth in core profitability was the result of improvements in several of the Group’s overseas territories.” Harford added that HFC Bank (Ghana) recorded a profit after taxation of $40 million following a loss of $118 million in 2016. Harford explained that the performance of the main subsidiary in Trinidad &Tobago remained relatively flat in 2017, because of additional tax expense of $55 million, adding that the economic outlook for the region offers a mix of opportunities for and challenges to the Republic Group.

Republic Financial Holdings Limited (RFHL) has recorded an after tax profit of $1.25 billion for the year ended September 30, 2017. This represents an increase of $69 million or 5.8 per cent over the core profit of $1.18 billion reported for the prior year.

“Energy and commodity prices are expected to remain at their existing levels which combined with stagnant or declining production levels, will constrain economic growth in our largest market, Trinidad and Tobago. Conversely, other commodity exporting territories such as Guyana, and to a lesser extent, Suriname and Ghana, are being buoyed by new finds and expanded productions in oil, gas and gold mining.” he said. ¤

Jamaica’s NCB Group Makes Record Profits Jamaica’s NCB Group Makes Record Profits NCB Group Atrium Complex on Trafalgar Road, New Kingston, Jamaica.

Parent company for National Commercial Bank, NCB Financial Group Ltd, saw an all-time high in profits for its fourth quarter ending September 2017, achieving a net profit of $19.1 billion. It’s an increase of 32 per cent over the prior year’s results of 14 billion, but a decline by 16 per cent or $865 million from the previous quarter as a result of higher operating expenses. Total assets of the company stood at $636.7 billion.

“We have achieved another milestone year, with record net profits, strong financial and capital position, and improved performance metrics,” management said in an accompanying statement to shareholders. “We began our 2017 financial year with the goal of creating an improved NCB — faster, simpler, stronger. We have a clear strategic plan, a team capable of delivering for our customers and shareholders,” it continued. It added that for the new financial year it remains committed to continuing the pace of digital change, bettering performance and OECSBusinessFocus

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achieving its vision. For the quarter under review, NCB experienced growth of 15 per cent in operating revenues, moving from $59.5 billion to $7.9 billion year-over-year. Operating expenses of $38.3 billion climbed by 14 per cent or $4.8 billion over the prior year. The group attributed the growth to gains on foreign currency and investment activities which improved by $3.0 billion or 63 per cent, driven by gains from the sale of debt securities, net fees and commission income which increased by $2.9 billion and growth in the loan portfolio. “Our retail segment continues to be the largest contributor. This was fuelled by loan growth momentum throughout the year, allowing us to grow our leading position in the commercial banking industry to a 41 per cent market share and our loan portfolio by 16 per cent,” it said. It added that the performance demonstrates progress in relation to its business strategy and continued growth in assets and equity, which both improved by 14 per cent and 13 per cent respectively. NCB’s 29.99 per cent shareholding in Guardian Holdings Ltd was the main contributor to the $2.0 billion increase in share of profit of associates. The Banking Group has since hosted its quarterly investors briefing to speak about its performance. ¤

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Approved To Accelerate ImpleSir Richard Branson Meets PlanPlan Approved mentation Of CSMETo Accelerate Implementation Of Csme with IMF on Behalf of BVI

Sir Branson

Richard Meets Incumbent Caribbean Community (CARICOM) Chairman and Prime Minister of Grenada, Keith Mitchell says that a plan has been approved to accelerate the implementation of the CARICOM Single Market and Economy (CSME), which came in for harsh criticisms Member To States who essentially Planfrom Approved Accelerate Im- said that progress in this area had become stagnated.

plementation Of CSME

Billionaire Sir Richard Branson has held talks with the International Monetary Fund (IMF) on behalf of the British Virgin Islands. Branson, who owns two of the outer islands in the British Overseas territory, made the disclosure in a recent letter to the BVI Chamber of Commerce and Hotel Association (BVICCHA). Branson also called on the Association for ideas to help fast track Hurricane recovery efforts.

“I am also working to set up a small team in the BVI to support this project to help implement some of these ideas...” “I committed to BVI Governor Jaspert and Premier Smith that I would consult business owners in all relevant sectors to gather your feedback, ideas, and requests and compile these in a report for their consideration.” “I am also working to set up a small team in the BVI to support this project to help implement some of these ideas,” said Branson in a letter. Branson also said that he has had talks with other stakeholders besides the IMF. “Over the last month I have met with Governor Jaspert, Premier Smith, Dr Pickering, Caribbean Heads of State, representatives from Inter-American Development Bank, the World Bank and International Monetary Fund. During these meetings I have heard some fantastic ideas.” However details concerning the meeting with IMF officials were not revealed. Following the passage of Hurricane Irma on September 6, Branson has been working to coordinate relief efforts for the BVI and other Caribbean countries that felt the wrath of Hurricanes during the 2017 Atlantic Hurricane season. ¤

Prime Minister of Grenada, Keith Mitchell The CARICOM Chairman touched on CSME during his end of year message where he spoke highly of the resilience and togetherness of member countries following the devastating category five Hurricanes, Irma and Maria, that ravaged the Caribbean. “During the year, we also took a hard look at the CARICOM Single Market and Economy (CSME) and approved an Implementation Plan for 2017-2019 to accelerate the use of the measures under the regime” said Mitchell. He continued “a lot has been achieved in implementing the CSME, including legal and institutional measures and mechanisms to support the free movement of goods, services, skills, and crossborder establishment of businesses. However, we will continue to review progress regularly to ensure that the benefits of this important aspect of our integration are accruing to our citizens.” According to the CARICOM Chairman, one of the most important drivers of the Community’s economy, tourism, received special attention “as we sought to address both immediate and longterm initiatives aimed at stimulating sustainable growth in tourism. We focused on marketing strategies and agreed to support various Public-Private Sector initiatives, which would entail engagement with other Caribbean countries, companies and multilateral organizations.” At the CARICOM Inter-Sessional Meeting held in Guyana earlier this year, President David Granger, who was Chairman at the time, underscored the need to expedite the full implementation of the CSME in order for the Caribbean to escape the economic downfall in today’s global environment. “The CSME has the potential to enhance Private Sector growth and competitiveness by providing access to a larger pool of resources, facilitating the movement of human capital, catalysing the establishment of regional businesses and encouraging the free movement of goods. The CSME must not be allowed to become a victim of equivocation and procrastination,” the Guyanese Leader had noted. Moreover, Secretary General (SG) for CARICOM, Ambassador Irwin LaRocque, at the same meeting, posited that sustained economic development requires a cohesive response by working collectively and pooling resources. ¤ OECSBusinessFocus Jan / Mar

MONEY MATTERS

Five Caribbean Countries to Benefit From EU Funding

Head of the Caribbean Development Bank, Dr Warren Smith

Five Caribbean Countries to Benefit from Euro 12 million Funding Five Caribbean Community (CARICOM) countries are to benefit from a European Union grant to the Geothermal Risk Mitigation Programme for the Eastern Caribbean.

borrowing member countries in harnessing their renewable energy resources. The signing of this agreement represents a strengthening partnership between CDB and the European Union.

President of the Barbados-based Caribbean Development Bank (CDB), Dr Warren Smith and the Commissioner in charge of International Cooperation and Development, Neven Mimica, recently signed the Euro 12 million agreement.

“We look forward to collaborating further to support economic growth and competitiveness, and creating a more sustainable future for the people of our region,” he added.

The Geothermal Risk Mitigation Programme for the Eastern Caribbean will facilitate the development of up to 60MW of geothermal energy capacity in Dominica, Grenada, St Kitts-Nevis, St Lucia, and St Vincent and the Grenadines. “The programme will help to increase renewable energies in the Caribbean by supporting the development of geothermal energy,” said Mimica, adding that the grant will serve to jump start geothermal development through co-financing for higher-risk investments required at the early stage services of exploratory drilling which could leverage additional financing of approximately Euro 400 million. “It will decrease dependency on energy imports – reducing fuel import bills, electricity costs and help to decrease greenhouse gases emissions and other pollutants,” Mimica added. Smith said that the CDB welcomes the EU-CIF’s contribution to geothermal energy development in the Eastern Caribbean. “This funding will add momentum to our on-going efforts to transform the energy sector in the Region, and support our OECSBusinessFocus

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The CDB said that the project will help geothermal energy development in the five islands with isolated electricity markets and high dependency on energy imports. “They lack the necessary scale to import cheaper fuels, and rely on expensive diesel and heavy fuel oil. As such, electricity tariffs in these states are among the highest in the world,” the CDB added. It said that geothermal energy would relieve these five states from oil imports, by up to 722 000 barrels per year, as well as lower current electricity prices. Additionally, it is a clean and renewable energy technology that will reduce greenhouse gas emissions and contribute to climate change mitigation. The funding will be used to provide investment grants at the exploration phase, as well as technical assistance to support capacity-building initiatives and studies that explore opportunities for, and the feasibility of, interconnection between islands to facilitate the export of electricity by geothermal energy producers, the CDB added. ¤

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A More Transparent Balance Sheet

OECSBusinessFocus Jan / Mar

ECONOMY & TRADE

Michael Lee Chin, “Caribbean is a Fertile Environment For Serious Investors”

Port Louis Grenada

“Caribbean is a fertile environment for serious investors” Michael Lee Chin, Jamaican entrepreneur Michael Lee Chin, Founder and Chairman of Portland Holdings, Inc. in November in Florida outlined a menu of incentives which provide for successful foreign investment in the Caribbean region (CARICOM) but also warned of a menu of shortcomings with which investors must be prepared to deal with. Many of these shortcomings however, he said, are being addressed in several countries in the region. Delivering the keynote address at the opening of the 41st annual Conference on the Caribbean and Central America, held in Miami the businessman identified as among the major attractions for investing in the region “a treasure trove of inefficiencies” which he explained provided a fertile environment for serious investors “to come in and help raise the levels of efficiency”. He said that there are lucrative investment and joint venture opportunities available particularly in the area of import substitution. Michael Lee Chin also identified the natural resources to be found in the Caribbean, medical tourism, high end information and communication technology including digitization, privatization of government assets coupled with close proximity to the US and convenient time zones as a combination which make the Caribbean a great location for investment. Lee Chin also presented a menu of short comings- corruption, lawlessness, political interference, among others, which he said were not necessarily deterrents to successfully investing, but which investors needed to be aware of. OECSBusinessFocus

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He said many of the shortcomings are being addressed and would be eventually brought under control, particularly if investors are not party to the corruption and lawlessness. Lee Chin said that like in many other regions, Caribbean politicians do not know how to create wealth nor do they have a merit based way of distributing wealth. Hence he pointed to the need for every country in the Caribbean to have in place a national economic council made up exclusively of private sector and civil society representatives that would meet at least quarterly with the highest functionaries in government and the political opposition to analyze and chart a course for the development of the country. Lee Chin heads the national economic council in Jamaica which he says has served as a buffer zone in which the politicians on both sides agree not to fight on partisan political issues but rather agree on a blueprint for national development. These councils are necessary he said since “for the most part politicians are not fit and proper for creating wealth and therefore these buffer zones are necessary. They can take their political fights outside this buffer zone so as not to negatively impact their economies. “ He also pointed to the need for foreign investors to ensure that they contribute to wealth creation in the region by keep reinvesting most of their profits in their business operations through expansion, diversification and value added. ¤

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Baron Foods Establishes US$5M Manufacturing Plant in Trinidad Baron Foods Establishes Manufacturing Plant in Trinidad Excited that the company will be establishing linkages with local farmers and other agro-suppliers for the provision of raw materials and other inputs in the manufacturing and agro-processing sectors, Gopee-Scoon said this was in keeping with government’s thrust to strengthen the value chain for the Agriculture Sector. The company’s new plant will produce a range of sauces and condiments and will also utilize local hot peppers, herbs and spices in its production. Baron Foods has already outsourced its supply of bottles from Carib Glassworks Ltd. and its labels from Label House Group Ltd. for its factories in St Lucia and Grenada. As part of its diversification thrust, the Trinidad & Tobago Government is putting measures in place to encourage foreign firms to establish operations locally to boost growth in the local market. Trinidad & Tobago Trade Minister Paula Gopee-Scoon delivered the feature address at the opening of Baron Foods in Trinidad and welcomed the regional company’s investment in the country. She also noted that the establishment of Baron Foods Ltd in Trinidad is meant to create a mutually beneficial arrangement for all parties involved. “I am always encouraged by new corporate ventures such as these in the non-energy manufacturing sector. These investments signal the unwavering commitment, confidence and vision of the private sector to continue investing in our economy amidst these challenging times.” Gopee-Scoon stated.

Gopee-Scoon said these types of linkages and networking was what government desired to drive not only local economic diversification, but the integration of the regional industry. CEO OF Baron Foods Ronald Ramjattan led a team of his family, staff and business associates who travelled to Trinidad for the official launch. In his remarks, he expressed his pleasure for the support of the Government and private sector in establishing his business operations in Trinidad and expressed his excitement at penetrating the lucrative South American market for the distribution of his products. Baron Foods Ltd is the first OECS based business to have made the move to establish a permanent presence in the Trinidad market. ¤

The Trade Minister also said the company will be able to expand its products’ reach into new markets while Trinidad & Tobago reaped the rewards of a major investment allowing citizens to gain access to additional employment opportunities. She revealed that Baron Foods Ltd had made a substantial investment in excess of US $5 million to establish their manufacturing facility in Chaguanas, Trinidad with employment opportunities for over 50 persons and the export potential to contribute significantly to the economy and also generate foreign exchange in the process. According to Gopee-Sccon, “Baron Foods produces more than 150 products - many of which are internationally recognized with exports totaling approximately 45 per cent of its existing total production.” In 2017, the company was the recipient of the Superior Taste Award from the International Taste and Quality Institute for its Sweet Chili Thai Sauce; while in 2014, it received recognition for its world-renowned Banana Ketchup.

St Lucia-based, Baron Foods owner, Ronald Ramjattan shows Trinidad Trade Minister Paula Gopee-Scoon a bottle of his company’s Banana Ketchup during the launch of Baron Foods Trinidad. ¤ OECSBusinessFocus Jan / Mar

ECONOMYFOCUS & TRADE BUSINESS

CDB Issues Grant Funding of £14.4 million to Develop Port at Little Bay, Montserrat

Little Bay, Montserrat, the island’s maritime port of entry. Photo: David Stanley/Flickr

CDB Issues Grant Funding of £14.4 million to Develop Port at Little Bay, Montserrat Marine access to the island of Montserrat is set to improve, as the Board of Directors of the Caribbean Development Bank (CDB) has approved a grant of £14.4 million (US$19.5 million) to develop the port at Little Bay. The funds are being provided through the United Kingdom Caribbean Infrastructure Partnership Fund (UKCIF), and will assist in financing the construction of an offshore breakwater and quay. Head of Infrastructure Partnerships at CDB, Andrew Dupigny, noted that the development of the port is critical to providing a safe harbour and accessibility for vessels up to 150 metres in length. “The current jetty at Little Bay is exposed to rough seas intermittently, as there is no offshore breakwater. This makes it unsafe for vessels to dock at times, and means that Montserrat is unable to provide a continuous safe harbour for cruise ships, ferries, yachts, cargo and other vessels, which impacts economic activities on the island. The development of the port is seen as vital for Montserrat’s economic recovery and sustainability,” said Dupigny. OECSBusinessFocus

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Currently, rough seas cause significant downtime at the existing port, and 58 out of 475 ships were unable to berth in 2016. Climate change is likely to exasperate the situation, with increased and more frequent storm conditions and sea level rise expected. The construction of an offshore breakwater is therefore particularly important. It will help to create a safe harbour that is climate resilient and adequately protected. Port development will also support the growth of Montserrat’s tourism sector, improving access and connectivity to the island. In addition, sections of the harbour will be dredged to allow larger vessels to berth along the jetty. This will allow for larger rescue ships to be positioned appropriately, should there be a mass evacuation event caused by the eruption of the Soufriere volcano. It is expected that phase one of the port development works will be completed by 2021. Counterpart financing of £7 million will be provided by the Government of Montserrat. UKCIF provides grant financing to eight Caribbean countries eligible for Overseas Development Assistance, and UK Overseas Territory, Montserrat. The project is consistent with CDB’s strategic objective of supporting inclusive and sustainable growth and development, as well as its corporate priority of strengthening and modernising social and economic infrastructure. ¤

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CDB Approves US$76 million for St Kitts and Nevis

help the country diversify its economy and increase its exports, while addressing challenges related to skills and productivity, competitiveness, social issues, gender and climate change,” said Dr Justin Ram, the CDB’s Director of Economics. The proposed programme of assistance is built on three pillars: economic development and enhanced livelihoods, inclusive social development and envirnomental protection, and infrastructure enhancement. The country strategy is a joint collaboration between the Government of St Kitts and Nevis and CDB. The bank consulted with stakeholders, including Government officials and development partners, emphasising country ownership of the proposed programme of assistance. The Caribbean Development Bank (CDB) has announced a programme of assistance of US$76.2 million for St Kitts and Nevis over the period 2017 to 2021.

Salient issues that emerged during these discussions, including urgent sector priorities and ongoing interventions supported by other development partners, have been taken into account.

The bank’s board of directors approved the new strategy, which will support economic and social development, environmental protection and infrastructure enhancement.

It includes a mix of finance for capital projects and technical assistance. Individual projects will be appraised by CDB and, if deemed to be viable, will then be presented to the board “This programme will support the Government of St Kitts and of directors for approval, following which disbursements will commence. ¤ CCA OECS Business Focus Magazine 5x3.5(1).pdf 1 1/8/18 to10:03 AM Nevis in maximising its development potential. It is designed

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ECONOMY & TRADE

IDB Launches ECD Innovation Fund

https://blog.ed.gov/2015/02/the-presidents-fiscal-year-2016-budget-requestbuilding-on-priorities-for-a-strong-elementary-and-secondary-education-act/

IDB Launches ECD Innovation Fund To Foster Early Childhood Development in the Caribbean The Inter-American Development Bank (IDB) has launched the ECD Innovation Fund, a partnership to foster early childhood development (ECD) in Latin America and the Caribbean (LAC). The ECD Innovation Fund is a partnership with FEMSA Foundation and Open Society Foundations at a regional level, and with Fundação Maria Cecilia Souto Vidigal (FMCSV) in Brazil. It will be coordinated and managed by the IDB. The Washington-based financial institution said that each partner will initially contribute one million US dollars to the ECD Innovation Fund, hoping that over the next three years it will reach more than US$10 million for financing projects in the region. Designed to benefit children in the most vulnerable communities, the new fund will finance initiatives to improve the cognitive, linguistic, motor, and socio-emotional abilities in the first five years of a child's life. Knowledge exchange will be a critical component of the fund, as partners will generate and share new evidence on effective ECD solutions. “We seek innovative, replicable, and scalable initiatives in order to develop comprehensive solutions to the challenges we face as a society. The ECD Innovation Fund is an opportunity to foster new ideas and contribute to early childhood development in the region”, said Mariano Montero, Director of FEMSA Foundation. OECSBusinessFocus

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“At Maria Cecilia Souto Vidigal Foundation we believe that to develop our children is to develop our society. In this effort, we rely on strong partnerships that promote the exchange of ideas, the sharing of knowledge, and the design of policies and practices. “This fund will enable us to reach the objective of testing and generating impactful public policies in Brazil and Latin America and the Caribbean,” said the FMCSV President, Eduardo de C Queiroz. The partnership was announced during the recent IDB-Alas Awards, a landmark event to recognise the individuals and organisations working on ECD in the region. “The Open Society Foundations welcome the opportunity to partner with the Inter-American Development Bank, FEMSA Foundation, and the Maria Cecilia Souto Vidigal Foundation on this critical initiative that we believe will yield invaluable results, with the potential to transform the lives of some of the most disadvantaged young children in the region,” said Tina Hyder, Deputy Director of the Early Childhood Programme at Open Society Foundations. ¤

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The Caribbean Association of Banks Breaks New Ground in its 44th Conference in the Dominican Republic

The Caribbean Association of Banks Breaks New Ground in its 44th Conference in the Dominican Republic St. Lucia, Tuesday December 6th, 2017: The Caribbean Association of Banks concluded its 44th Annual General Meeting and Conference under the theme: “Breaking New Ground” in the Dominican Republic on 15th- 17th November, 2017. The Conference brought together over two hundred and thirty (230) banking stakeholders including regulators, retail and commercial bankers, service providers and investment bankers from regions such as North America, Latin America, the Caribbean and Europe, to discuss the challenges facing the industry and to explore relevant solutions.

Some of the key points included: • A shifting mindset is required by Regional banks to digitally transform their organizations and effectively engage millennials. This goes beyond simply changing the underlying technology of the bank, but rather requires a fundamental change towards a culture of continuous learning and innovation.

The conference highlighted the scope of the changing trends and thinking in the financial services industry, as well as new strategies which may be pursued to ensure the survivability and prosperity of the industry and by extension, the regional Caribbean economy.

• The development of an effective business continuity strategy and plan that regional banks need to adopt to mitigate against key potential “interrupters”, including cyber-attacks, and the impact on their business.

The Chairperson of CAB and Deputy Managing Director of the Bank of Saint Lucia, Ms. Joanna Charles, in her welcome remarks cited that despite the challenges facing the Region, she believed in the strength of the Caribbean spirit and its capacity for rebirth, regrowth and rejuvenation. Ms. Charles highlighted that, “Our financial institutions, like our Caribbean countries, are beset by “storms of change” and the forecast remains unpredictable. The financial industry is plagued by high non-performing loans, loss of correspondent banking relationships, an ever-changing regulatory and legislative framework, and the emergence of disruptive technologies.” Weathering these storms “…requires a fundamental change in the traditional banking business model and financial institutions will have to: Innovate with the right leadership and culture; Capitalize on market disruptions and not be threatened by them; and, Provide for their customers’ changing needs and expectations.”

• The urgency required to operationalize the integration between Latin America and the Caribbean supported by an effective and integrated financial system to facilitate the growth and development of the Caribbean. The integration of a Real Time Gross Settlement (RTGS) system for trade, remittances, cards etc. among the LAC countries should be explored. This may be one of the long term solutions to streamline the dependence on foreign correspondent banks.

The conference covered topics such as Emerging Technologies and the future of financial services; The Power of Unlocking Great Leadership; Women in Banking; Client Centricity; Banking Marijuana Related Business; Overcoming Systemic Risks; and Deepening collaboration between Latin America and the Caribbean.

• The role of regional regulators in exploring the applicability of technology such as blockchain and digital currencies to facilitate the digitization of the regional financial industry.

• Strong leadership as a means to inspire others to attain organizational and personal growth, development and survivability of the industry. The CAB continues to be the voice that protects, promotes and strengthens the regional financial services industry. The CAB is a community of banks and other financial institutions in the Caribbean Region, which proactively influences issues impacting the financial services sector through advocacy, education and networking. The CAB represents fifty-two (52) banks and financial institutions in the Caribbean with an asset base in excess of US$40 billion as at Dec 31, 2016, in addition to eighteen (18) Service members comprising regional and international technological and professional institutions and three (3) Honorary Members. OECSBusinessFocus Jan / Mar

ECONOMY & TRADE

CDB, CARICOM Seeking Opportunities For Greater Collaboration

CDB, CARICOM seeking opportunities for greater collaboration The Caribbean Development Bank (CDB) and the CARICOM Secretariat are seeking to deepen collaboration and better understand operations undertaken by each other in their respective member countries. Ambassador Manorma Soeknandan, Deputy Secretary-General, CARICOM Secretariat recently met with Staff of the Operations and Corporate Services areas of the Bank during an official visit. Representatives from each institution discussed ongoing areas of cooperation, namely the CARICOM Single Market and Economy and CARICOM-EU Economic Partnership Agreement Standby Facilities. During the meeting, both institutions agreed to develop and share matrices that highlight the major operations being undertaken by their respective organisations to facilitate a more meaningful dialogue and collaborative effort between the two Regional bodies. “I am particularly heartened by this, because there is a need to work far more synergistically in the way we interact with our member states,” said Daniel Best, Director of Projects, CDB. “We are also seeking to formalise the frequency of meetings between Operations staff of CDB and CARICOM, with a view to

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convening on a quarterly basis, where we can share information and strategies at a high level. Outcomes would then be cascaded to our various sector specialists to better inform, wherever possible, how we interact with and support our member countries,” he said. There will be further opportunities for cooperation as CARICOM moves toward developing its 2020 to 2030 strategic plan. “Here again, we see possible areas of convergence,” Best said. “Many sections of the 2020 to 2030 CARICOM plan, particularly those that speak to national and regional outcomes and targets, could be of significance in the Bank’s country strategy planning process and also how we approach our next strategic planning cycle.” ¤

Photo (L to R): Andrea Power, Coordinator, Regional Cooperation and Integration, Technical Corporation Division, CDB; Diana Wilson Patrick, General Counsel; CDB; Ambassador Manorma Soeknandan, Deputy Secretary General, CARICOM Secretariat; Daniel Best, Director, Projects Department, CDB

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CARICOM and Cuba Sign Second Trade Pact

Expands Preferential Access and Promotes Increased Trade CARICOM Secretary General, Irwin LaRoque (left) and Cuba’s Ambassador to CARICOM, Julio Cesar Gonzalez, sign the second Trade and Economic Agreement at the 45th session of COTED in Guyana on Thursday 9th Nov 2017. (Delano Williams) THE Caribbean Community (CARICOM) and the Republic of Cuba on Thursday 9 Nov 2017 signed, for the second time, a Trade and Economic Cooperation Agreement at the Guyana Marriot Hotel. The Agreement was signed by CARICOM Secretary General, Irwin LaRoque and Cuba’s Ambassador to CARICOM, Julio Cesar Gonzalez, during the opening ceremony of the 45th regular session of the CARICOM Council for Trade and Economic Development (COTED) Meeting held at the hotel. The first Trade and Economic Cooperation Agreement was signed in July 2000 and provided for, among other things, the promotion and expansion of trade in goods and services by means of free access to the markets of the Parties, elimination of non-tariff barriers to trade, the establishment of a system of Rules of Origin and the harmonisation of technical and sanitary and phytosanitary measures. The signing of this new Agreement between CARICOM and Cuba aims at extending the preferential market access, as well as

strengthening existing trade and economic ties established years ago. Additionally, the Agreement is viewed as an impetus for the private sector within CARICOM to access the Cuban market with urgency. Expanded preferential market access is offered by Cuba to CARICOM countries on a list of approximately three hundred and twenty-six (326) items which includes meat, fish, dairy produce, fruits and vegetables, beer, rum, cement, soaps, articles of apparel and clothing. There are approximately 50 items on which immediate duty-free access will be granted and a list of 22 items on which differentiated treatment, including phased reduction of duty, which CARICOM More Developed Countries (MDCs) in the Community will grant to Cuba. Products included in the CARICOM duty-free offer to Cuba are fish, pharmaceutical products, fertilisers, articles of iron and steel, electrical machinery and equipment and parts thereof. Given the existing Trade and Economic Cooperation Agreement CARICOM has with Cuba, it would serve both parties well to ensure that the expansion of preferential access into each other’s market, as provided for under the second protocol to the Agreement. ¤ OECSBusinessFocus Jan / Mar

ECONOMY & TRADE

CDB Implements Revised Education And Training Policy And Strategy

IMF Commits to Help Caribbean Build Resilience

CDB implements revised education and training policy and strategy The Caribbean Development Bank (CDB), in keeping with its view that investment in education is critical to sustainable development, has updated its Education and Training Policy and Strategy (ETPS). The revised ETPS is designed to improve learner outcomes and to produce a qualified, capable and representative workforce of diverse individuals. Further, it aims to reduce poverty and achieve inclusive social and economic development for the Region. Director of Projects at CDB, Daniel Best, said the revised ETPS takes into consideration the challenges CDB’s borrowing member countries (BMCs) continue to face and the issues on which the Bank must focus as it responds to these challenges.

learning outcomes consistent with national and regional human resource development needs. This is in keeping with Sustainable Development Goal 4: Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all. In addition, the Bank, through the Strategy, aims to reduce systemic inequities and inefficiencies, ultimately leading to more equitable education systems and contribution to the attainment of the SDG 10: Reduce inequality within and among countries.

IMF Commits to Help Caribbean Build Resilience

The ETPS also emphasises strengthening the capacities of the Bank’s BMCs to improve governance in education and training systems in such a way that the quality and implementation of “The ETPS focuses on expanding capabilities to transform regional policies, strategies and plans are enhanced. Such strengthening The International Monetary (IMF) says itresource is acutely aware of said that at the Caribbeanand Forum recently held in Jamaica education systems to meet 21st Fund century human needs, will He enable better monitoring evaluation of the system and urgent needemphasis to assist Caribbean countries resilience, Chastanet and other Caribbean leaders,processes, IMF Managing and the places a strong on delivering resultstoforbuild learners,” and attended enhancebyknowledge of teaching and learning in the context of the recent hurricanes that swept Director Christine proposed convening an Bestparticularly said. understanding of linkagesLagarde, to labour“Actually markets, and the development through the Lesser Antilles killing scores of people and leaving event with all the major public andonprivate stakeholders and implementation of programmes, based data and evidence. to of dollars in damage. forgender buildingequality resilience in theand region, including risk “Thebillions ‘makeover’ of the Strategy also took into account how The explore ETPS willoptions promote through in education mitigation, debtofmanagement and in useBMCs of catastrophe education systems are affecting diverse learners, the key systems; a culture lifelong learning as well asbonds. within “And we stand ready do whatever can help,” Gerry competencies required to to improve learner we outcomes, andsaid what CDB; and stronger partnerships for improved outcomes in Rice, of thecontexts,” IMF Communications “So the call by Chastanet, I think, reiterates a plea made by works andDirector within what he added. Department. education. Caribbean leaders at the time of the annual meetings to adjust The key pillars of the Strategy are: Rice was responding to a statement attributed to St Lucia Prime criteria lending is to aligned take greater • Access, Equity and Participation Besteligibility also noted that for theconcessional Policy and Strategy with account the Minister Allen of Chastanet, in which he was quoted as which telling the of the2030 Caribbean’s very high vulnerability natural disasters Development education and training systems, Regional HRD Strategy, developed undertothe leadership of and Washington-based financial that, “If you care all about climate change,” he said. provide for equitable accessinstitution and participation across CARICOM with financing from CDB. the Caribbean, you must change the rules of engagement and levels of the system. allow us toRelevance help ourselves”. that while the IMF cannotrole currently reclassify countries • Efficiency, and Effectiveness “TheRice Banksaid is currently playing a pivotal in the development of to make 2030 themHRD eligible for concessional fund borrowing, “A review Enhanced efficiency, relevance and effectiveness of education the Regional Strategy and will complement this Regional Chastanet wastoalso quoted as saying that,are “Theresponsive billions of dollars of by thecontinuing fund’s low-income facilities is currently underway and that and training create systems which to policy to invest in universal education to close gaps in Caribbean loansand should be labour reclassified by the IMF.” will examine well these facilities arecapital addressing the needs of national, regional global markets. in the quality of itshow delivery and align human development vulnerable small states and will needed”. • Governance policies with changing national andpropose regionalchanges demandif for skills,” Rice told regional and international journalists “By way of Strengthened capacity to reform and managethat, education Best said. context,for wethe recently hadofaenhancing major conference on the Caribbean Caribbean countries have been categorised as middle- to highsystems purpose student outcomes. where a number of these issues were covered. and are largely for concessional development The income new ETPS builds on ineligible the lessons learned through the financing andofofficial development assistance due approved to the use of Once implemented, the Strategy is expected to lead to high- implementation the previous version, which was “Butinclusive let me just summarise. obviously aware of the gross It domestic product per as a principal criterion. ¤ quality, education andWe’re training, from acutely early childhood in 2004. was developed in capita consultation with stakeholders, urgent need to assisttothe Caribbean countries to build levels, resilience, development through post-secondary and tertiary including the Bank’s BMCs, and development partners. ¤ in the opportunities context of thewhich recentproduce natural improved disasters,” he and particularly lifelong learning added.

OECSBusinessFocus

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St Kitts and Russian Federation Agree to Historic Visa Waiver

Grenada and Russia Sign Visa Waiver Agreement and Discuss Technical Cooperation

A bilateral agreement and historic visa waiver agreement was signed in New York on September 21 by Hon. Mark Brantley, Minister of Foreign Affairs and the Russian Federation’s Foreign Minister Serguey Lavrov. It allows citizens of both St Kitts and Nevis and the Russian Federation to travel for up to 90 days to each other’s countries without the need for a visa. During a reception hosted by the Ambassador of the Russian Federation to St Kitts and Nevis, Vladimir Vinokurov, Minister Brantley thanked the Russian Ambassador for ensuring that St Kitts and Nevis and his country were able to strengthen relations. Brantley said that the government’s philosophy has always been one to promote greater people to people contact, as well as to expand the Federation’s diplomatic footprint. He noted that people need to understand that the world is made up of a lot more countries that are represented by the United Nations (UN), hence, it is extremely important to develop meaningful relationships with as many countries as possible. Brantley said that it is St Kitts and Nevis’ intention to build on the relationship with the Russian Federation. He made a call for more Russians to visit St. Kitts and Nevis while at the same time encouraging Kittitians and Nevisians to take the opportunity to learn more about Russia. Ambassador Vinokurov said that agreements are extremely important as they promote better relations and more exchanges between countries. Vinokurov said that he is delighted that such an agreement is now in place and hopes that it will promote meaningful and productive exchanges between all stakeholders. He echoed his commitment to continue working on other bilateral documents as a way to further strengthen the legal basis of the relationships between the Federation of St Kitts and Nevis and the Russian Federation. (Reuters). ¤

Grenada‘s Foreign Minister, H.E. Elvin Nimrod, and his Russian counterpart, H.E. Sergey Lavrov, executed an agreement that will waive visa requirements, allowing nationals of Grenada and Russia to travel between the two countries without a visa. The agreement signed on Wednesday, September 20, 2017, on the margins of the United Nations General Assembly in New York will go into effect 60 days following notification of the parties’ completion of internal procedures necessary to implement the agreement. Both Foreign Ministers acknowledged the warmth and strength of the bilateral relations between the two countries and discussed the importance of people-to-people exchanges as a mechanism for deepening ties between Grenada and Russia. Minister Nimrod emphasized the significance of human resource development to Grenada and the Caribbean Community (CARICOM) as a whole, and welcomed continued and further cooperation with Russia, particularly in building capacity in the medical field. ¤

Photo: Ambassador Vladimir Vinokurov (left), Minister of Foreign Affairs Mark Brantley (right) and Maria Lobova, owner of the Mill Café and Restaurant. (SKNIS) OECSBusinessFocus Jan / Mar

BUSINESS TECH

Caribbean Courts and Lawyers Embrace Technology for Improved Justice Delivery

Caribbean Courts and Lawyers Embrace Technology for Improved Justice Delivery Too often citizens seeking resolution before courts in the Caribbean are denied their right to swift justice. Severe case backlogs, expensive legal services and debilitating delays are now endemic in a number of Caribbean territories. The severity of the problem has triggered the creation of a special regional agency to help strengthen the administration of justice and to provide technology to reduce the caseload backlog throughout the region. APEX, a not-for-profit agency, was established by the Caribbean Court of Justice (CCJ) in 2016 to deliver technology-based solutions for improving justice delivery for Caribbean courts, law offices and related agencies. Last November, the agency convened its first stakeholder convention with more than 50 delegates from 15 Caribbean countries gathering in The Bahamas, and another 35 joining online. The audience for the historic gathering comprised chief justices, attorneys general, judicial officers, directors of public prosecution, legal professionals, court administrators and leaders of bar associations. OECSBusinessFocus

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Sir Dennis Byron, president of the CCJ, and a former Chief Justice of the Eastern Caribbean Supreme Court described the event as a milestone for the justice sector in the region. â&#x20AC;&#x153;At the Caribbean Court of Justice, our mandate goes beyond simply resolving disputes that come before us. We also have a profound obligation to improve the systems of justice delivery throughout the Caribbean, for the greater good of citizens, our beneficiaries, across the entire region,â&#x20AC;? Byron said. Barbados, Belize, Guyana, St. Vincent and the Grenadines, and Trinidad and Tobago are among the places where courts and law offices have already adopted technology developed by APEX for electronic case filing, case management and court performance measurement. Byron pointed out that in every place that APEXâ&#x20AC;&#x2122;s technology is deployed, the solutions can replace slow, unreliable, manual processes with faster, more accurate, automated systems. He cited examples of inefficient, error-prone and time-consuming manual case management and note-taking of court proceedings, which could greatly benefit from modern technology. www.oecsbusinessfocus.com

“In many of our courts, the judge or the magistrate takes a manual record of proceedings. This slows down proceedings to the speed at which the judge is recording. It does not produce a complete or completely accurate record. Judges’ time and energy is taken up by trying to take those notes,” he said. Bevil Wooding, Executive Director of APEX shared, “One of the practical benefits of APEX is that we have been able to draw upon Caribbean technology expertise to develop solutions that are tailor-made for the justice sector in the region. Because APEX is governed by justice sector leaders from across the region, its focus and development strategies are representative of Caribbean priorities and fundamentally different from that of purely commercial technology service providers. A practical example of this is the fact that revenues from APEX technology and services are re-invested directly into Caribbean court infrastructure strengthening and into Caribbean justice sector human-capacity development.” “The dream of having Caribbean courts benefit from Caribbean solutions for the vexing and persistent challenges in the administration and dispensation of justice, is now a reality. The next step will be for leaders in the justice sector throughout the region to take full advantage of the new technology and the new services now available via APEX to enable Caribbean court and justice sector excellence,” Wooding added. ¤

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OECSBusinessFocus Jan / Mar

BUSINESS TECH

LiLAC to Take Over Columbus/CWC Communications By Balford Henry

LiLAC to Take Over Columbus/CWC Communications

Balan Nair Future CEO of LiLAC By early next year, Cable & Wireless Communications and Columbus Communications — Liberty Global’s telecommunications entities in Latin America and the Caribbean are expected to operate solely under the umbrella Liberty LatAm and Caribbean (LiLAC). This will follow LiLAC’s split-off from Liberty Global, which is expected to be consummated with current Executive VicePresident and Chief Technology and Innovation Officer (CTIO) at Liberty Global Balan Nair, taking over as the Chief Executive Officer (CEO) of LiLAC. Not much information is available to customers of local Liberty Global companies CWC Communications and Columbus Communications, which currently operate as different entities under Liberty Global’s ownership. This situation has raised the anger of Caribbean trade unions representing LiLAC’s workers across the region, including the Bustamante Industrial Trade Union (BITU), which represents staff in Jamaica. BITU Vice-President Ruddy Thomas, who was in Grenada last week for a meeting of trade union representatives from Jamaica, Grenada, Antigua and Barbuda, Barbados, and The Bahamas, said that they have established a global alliance with European colleagues who are members of UNI supported by unions in Belgium, The Netherlands, Panama, and Chile. “During the deliberations, we noted the company’s decision to restructure its various operations throughout the region, and what appears to be a deliberate avoidance of dialogue with the unions who represent these employees,” Thomas told the Jamaica Observer. “We wish to remind the company that this type of behaviour does not augur well towards co-operation,” he added. However, a number of releases have been made available by Liberty Global on the Internet. In addition, early last month, John Reid, who took over as interim CEO of CWC when its acquisition OECSBusinessFocus

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by Liberty Global was completed in May 2016, wrote to “all employees” saying: “You should by now have seen the announcement that Balan Nair is to be appointed CEO Liberty LatAm and Caribbean (LiLAC) on completion of the split-off from Liberty Global — due to happen around the end of the year. “Many of you will know Balan in his current position as CTO for Liberty Global. He has also visited many of our markets including most recently some of our Caribbean countries impacted by the hurricanes. “I am personally delighted that LiLAC will have a CEO of Balan’s calibre. With the split-off and a strong new Board and Leadership Team, LiLAC is well-positioned to become the foremost operator in our region. “And these are exciting times for C&W too — remember that we comprise around two-thirds of LiLAC’s revenues, so we have an important role to play in the success of the new company. Our region has numerous growth opportunities, and the strength of the LiLAC organisation leaves us well-placed to capture these and for all our employees to be part of an exciting journey. We will continue to ensure that you are all kept up-to-date with any developments.” Nair, according to Liberty Global, brings to his new role nearly 25 years of experience in the telecommunications, Internet, cable and media industries. “As one of Liberty Global’s top executives over the last 10 years, he has managed the group’s fixed and mobile network operations, broadband and video product development and strategic planning,” the company said. “He currently oversees a workforce of 7,500 employees and an operating and capital budget of more than US$5 billion in Europe, as well as the technology and product roadmap for Latin America. Nair will remain in his current position with Liberty Global until the split-off is completed, and a search is already under way for his successor.” Liberty Global’s CEO, Mike Fries, who will serve as Executive Chairman of the Latin American company after the split-off, has rated Balan as “an exceptional technologist and operating executive who has delivered tremendous value to our company as CTO”. ¤ www.oecsbusinessfocus.com

Trinidad’s Bevil Wooding Honoured for ICT Initiatives in the Caribbean Long before Dr Didacus Jules was Director General of the Organisation of Eastern Caribbean States, he’d already decided to get in touch with Bevil Wooding. Jules, then the Registrar and CEO of the Caribbean Examinations Council, had read about T&T-born Wooding’s appointment by the Internet Corporation for Assigned Names and Numbers as one of seven people entrusted with a special cryptographic smart card that holds part of a key used to generate the Domain Name Server Security Extensions (DNSSEC) protocol.

Trinidad’s Bevil Wooding Honoured for ICT Initiatives in the Caribbean

As head of the regional body that provides primary, secondary and post-secondary examination and education services, Jules was particularly interested in preparing Caribbean youth to make the most of emerging opportunities in the digital economy. He realised that Wooding was just the man for the job. As it happened, their first meeting would be two months in the making. It was a chance encounter—they were seated side by side in business class on a five-hour Barbados-Denver flight—but they hit the ground running. Almost literally. Descending over Colorado, the two had already mapped out a full programme of collaboration between CXC and Congress WBN, the Caribbeanbirthed faith-based non-profit organisation with operations in more than 100 countries, of which Wooding serves as Chief Knowledge Officer. Within weeks, he was bringing a digital revolution to Caribbean education, planting the seeds for CXC’s Digital Media Syllabus and first digitally administered examination. “Bevil’s contribution was invaluable in helping CXC move towards becoming what I call an IT Intelligent organisation, leveraging ICT for efficiency and cost effectiveness and changing the way in which we work,” Jules said. “Three years later, when I left CXC to become the Director General of the OECS, one of my first appointments was to make him the Advisor for Strategic ICT to the Director General. It was and is a non-remunerated position, and Bevil has made an incalculable contribution to the elaboration of a strategic ICT masterplan to undergird the deepening of integration of the ten member-states of the OECS.” Wooding serves as Caribbean Outreach Manager for the American Registry for Internet Numbers, and as a Strategic Advisor for the Caribbean Telecommunications Union. Bernadette Lewis, Secretary General of the CTU, described her camaraderie with Wooding as a longstanding cooperative partnership between “committed collaborators.” Ronald Hinds, who started Trinidad-based software development firm Teleios Systems Limited with Kevin Khelawan and Wooding in 1997, described his co-founder as “a champion of technologies that have the power to empower the voiceless and the invisible.” He added: “Many hearing or reading of Bevil’s contribution in the field of technology might be tempted to think that it’s about the bits and bytes. But it has always been about providing opportunities to use the emerging and available technologies to open entirely new doors.”

Bevil Wooding Caribbean Outreach Liason at ARIN Throughout the Caribbean, Wooding has harnessed the Internet as a catalyst for development, earning himself a reputation as a change-agent. Shernon Osepa, Manager of Regional Affairs for Latin America and the Caribbean for the Internet Society, described him as “a visionary who believes that the Caribbean Economy can be enhanced through ICTs and Internet development.” As an Internet Strategist for the US-based non-profit research firm Packet Clearing House, Wooding has also played an important role in establishing Internet exchanges in Barbados, Belize, BVI, Dominica, Grenada, Jamaica, St Lucia, St Vincent and the Grenadines, and Trinidad and Tobago. Bill Woodcock, Executive Director of Packet Clearing House and member of the ARIN Board of Trustees, said Wooding’s leadership is “inspirational” and that his work has “brought lasting benefits to the Caribbean.” On November 17, Wooding was honoured at the 24th annual Caribbean American Heritage Awards which celebrate achievements of people of Caribbean descent who have made outstanding contributions to their fields of expertise. “Mr. Bevil Wooding is a virtual technology ambassador, evangelist and pioneer and we are honoured to present him with this year’s Caribbean American Heritage Award,” said Dr. Claire Nelson, Founder and President of Institute of Caribbean Studies. “Mr. Wooding demonstrates the region’s capacity to innovate and create world-class thought leaders in any arena, and we hope people throughout the Caribbean can be moved and inspired by his accomplishments and devotion to making technology accessible to all,” she added. Wooding received the award at a formal ceremony in Washington DC. ¤

OECSBusinessFocus Jan / Mar

Caribbean Courts and Lawyers Embrace Technology for Improved Justice Delivery

Internet Groups Establish Commission to Improve Caribbean Network Resilience In response the devastation wrought by a record-breaking 2017 hurricane season, many Caribbean island states are struggling to return to normalcy. By some estimates, relief and recovery efforts after Hurricanes Irma and Maria alone could cost upwards of US$150 billion. The failure of Caribbean communications networks is particularly worrying. Mobile and Internet technology affect not only the personal communications between millions of citizens but, more critically, are vital to the coordination of emergency responders’ post-hurricane recovery efforts. Increasingly severe weather events are highlighting an urgent need to strengthen the region’s communications infrastructure. In response, a special Commission for Caribbean Network Resilience is being formally empaneled to critically examine the region’s communications vulnerabilities and come up with recommendations for more resilient infrastructure, technologies and methods. The formation of the Commission was announced by the Caribbean Telecommunications Union (CTU), an intergovernmental entity formed by the Caribbean Community OECSBusinessFocus

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(CARICOM) to drive the growth of the region’s communications sector. “There were many deficiencies exposed in the Caribbean’s response to recent hurricanes and disasters in the region,” said Bernadette Lewis, Secretary General of the CTU. “This special Commission will gather facts about the failures, in order to better understand which ones contributed most significantly to the overall outage. We will develop a set of practical recommendations as to how things can be done better in the future.” The Commission will produce a report with specific recommendations to Caribbean governments, regulators and communications ministries. The recommendations will be presented to Caribbean governments at a meeting convened for that purpose by regional inter-governmental treaty organisations the CTU and the Organisation of Eastern Caribbean States. Lewis will chair the new body, and Kim Mallalieu, head of the Computer Science department of the University of the West Indies, will be vice-chair. It will initially be made up of ten commissioners and a number of volunteer consulting www.oecsbusinessfocus.com

Caribbean computer experts to tackle cyber security Caribbean Computer Experts To Tackle at Cyber Security At CARIBNOG 15

advisors drawn from regional and international experts on communications technology and regulation. “The Commission will be neutral, in that none of the commissioners will be from the companies whose infrastructure failed, nor companies seeking to compete with them, nor regulators with jurisdiction over them,” Lewis said. Among others, global technology companies Cisco, IBM, Intel and Uniregistry and international treaty organisations the World Bank and Organisation of American States are supporting the project and overseeing the Commission’s work. Several regional organisations are also supporters, including the national telecommunications regulators of St Vincent and the Grenadines and Grenada, as well as the Caribbean Network Operators Group. Among the Internet bodies supporting the initiative are the American Registry for Internet Numbers (ARIN), the Internet Society (ISOC), the Latin American Internet Registry (LACNIC) and Packet Clearing House (PCH), the international organisation responsible for providing operational support and security to critical Internet infrastructure, including Internet exchange points and the core of the domain name system. “Packet Clearing House is honoured to be providing secretariat services for this important regional effort,” said Bill Woodcock, who is the executive director of PCH, and one of the ten commissioners. “The scale of the devastation wrought by this season’s hurricanes is unprecedented in recent Caribbean communications history. Having entire countries go offline through the critical period of initial disaster response and humanitarian relief is a failure that cannot be allowed to happen again,” said Bevil Wooding a commissioner and special ICT advisor to the OECS Commission. In 2017, Hurricanes Irma and Maria made landfall in Anguilla, Barbuda, Dominica, the Dominican Republic, Puerto Rico, St. Barts, St. Martin/Sint Maarten, Turks and Caicos, the British Virgin Islands and the United States Virgin Islands. On June 1, 2018, the next Atlantic hurricane season begins. The establishment of the Commission to increase the resilience of communications infrastructure to extreme recurrent natural events is a necessary and positive step. Let’s hope it helps the Caribbean shift from reactionary to a more proactive stance that better ensures our long-term resilience.

As cyber attacks continue to rise in the Caribbean, a group of computer experts from around the region are preparing to gather to discuss ways to defend the digital networks and systems we have come to rely on for everyday life. Registration is open for the 15th regional gathering of the Caribbean Network Operators Group, called CaribNOG 15, the region’s largest volunteer-based community of computer network engineers. The event will be held in Miami, Florida, on April 19 to 20, 2018. “The Internet is now foundational to the development of our Caribbean societies and economies. It is the responsibility of technology professionals in the region to help shape its development and to help defend it against attack,” said Bevil Wooding, one of the founders of CaribNOG. “At CaribNOG 15, we will be discussing a range of issues related to the development of a more open, resilient and secure Internet. We will also continue our efforts to develop the human network by providing a forum for computer network operators from around the region to meet and interact with their counterparts from across the Caribbean and around the world,” he noted. Wooding is also the Caribbean Outreach Liaison at the American Registry for Internet Numbers (ARIN), one of five registries worldwide that coordinate Internet number resources. ARIN has been a longtime supporter of CaribNOG and is providing a Fellowship program to support persons interested in participating in the ARIN 41 and CaribNOG 15 meetings in Miami. The ARIN Fellowship Program offers up to 15 individuals an opportunity to attend these meetings at no charge, and also offers hotel accommodations at the meeting venue, round-trip economy class airfare, and a stipend. “The ARIN 41 and CaribNOG 15 meetings provide interested persons in the Caribbean with an opportunity to shape Internet policy and to gain practical technical knowledge and skills. This is particularly important, given the increasing sophistication of cyberattacks and our region’s increased reliance on information and communications technologies in almost every sector,” Wooding added. CaribNOG 15 immediately follows ARIN’s next public policy meeting, ARIN 41, which takes place from April 15 to 18, 2018. Registration can be done online via caribnog.org or arin.net. This story was originally published on Gerard Best’s blog, SightLine. ¤ OECSBusinessFocus Jan / Mar

TOURISM FOCUS

Grenada Named 2017 Caribbean Destination of the Year

Grenada NAMED 2017 Caribbean Destination of the Year Grenada, the Spice of the Caribbean, is ending the year on a high note with more international recognition. The tri-island destination which includes Carriacou and Petite Martinique is celebrating after capturing two prestigious titles in the Caribbean Journal’s Travel Awards 2017. Grenada was named ‘Destination of the Year 2017’ while Chief Executive Officer of the Grenada Tourism Authority (GTA) Patricia Maher was named Caribbean Tourism Director of the Year 2017. Grenada was chosen thanks to one of the fastest growth rates in the Caribbean, a surge in hotel development with properties like the Kimpton Kawana Bay and Silversands in the pipeline and a new branding push to bring travelers to a place that has long been one of the Caribbean’s most underrated destinations. “I wish to thank the GTA team who have been working hard to ensure that the world discovers and enjoys our islands. We appreciate all our public and private stakeholders who work along with us to create memorable experiences and the Grenadian people for their warm hospitality,” Maher said.

Patricia Maher Chief Executive Officer of the Grenada Tourism Authority

Grenada was also recently featured in several major publications. Travel and Leisure Magazine recognized the destination as number three out of the 50 best places to travel in 2018. Additionally, mic.com featured Grenada as one of 26 best places to travel in 2018. ¤

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Caribbean Tourism Continues Record Growth Hon. Edmund Bartlett Jamaica’s Minister of Tourism

Caribbean Tourism Continues Record Growth The region has welcomed 16.6 million visitors for the first six months of 2017. Jamaica’s Minister of Tourism Edmund Bartlett says Caribbean Tourism continues to grow at record pace, with data from the Caribbean Tourism Organisation (CTO) showing that the region has welcomed 16.6 million visitors for the first six months of the year. The figure is 800,000 more than for the similar period in 2016, constituting a growth rate of 5.22 per cent. Jamaica’s Minister of Tourism, who was giving the welcome address at the United Nations World Tourism Organization (UNWTO) Conference at the Montego Bay Convention Centre in Jamaica, said Tourism in the region grew at an unprecedented rate of 4.2 per cent in 2016, outpacing the global average of 3.9 per cent. Jamaica’s Minister of Tourism Edmund Bartlett Addressing the UNWTO Conference. This, he said, was amid volatility and uncertainty in main source markets, such as the United States and parts of Europe. “The region welcomed a historic 29 million visitors in 2016, over one million more visitors than in 2015. The data for 2016 also indicate that cruise tourism in the region is booming, as cruise passenger arrivals grew by an estimated 1.3 per cent, to approximately 26.3 million in 2016,” he pointed out. He said Jamaica’s tourism performance for 2017 has been impressive, with the country on track to surpass last year’s historic growth rate of four per cent or 3.84 million visitors in total.“We welcomed over 3.3 million visitors in the first nine months of 2017 and we expect total arrivals to surpass four million by the first

week of December,” he told conference delegates. “Gross foreign exchange earnings for the first 10 months of the year were US$2.34 billion, which is a 10.8 per cent increase over the corresponding period in 2016. We remain firmly committed and convinced that our tourism industry is on the right track and that we will achieve our growth target of ‘five in five’ or five per cent annual growth rate in five years,” he said. The Minister noted that the tourism sector in the region has traditionally been very resilient and remains one of the most valuable contributors to job creation, poverty alleviation, investments, export revenues, gross domestic product (GDP) and to the economic livelihoods of millions of citizens. He said, however, that “its gentle balance can be easily disturbed by a wide range of risks and threats”. “These include global economic recessions, global food shortages, an oil crisis, political instability in major source markets, terrorist attacks, environmental disasters and pandemics and epidemics, just to name a few,” Bartlett said. “As we have seen recently with the passage of Hurricanes Irma and Maria, it just takes one powerful disaster to devastate whole national economies, thus we can never become complacent.” The Tourism Minister said regional heads will now have to reassess existing strategies for managing risks and challenges, incorporate new approaches and harness new opportunities for growth and expansion in the tourism sector. “Indeed, the sustainability and resilience of our tourism sector is hinged upon us being forward-thinking, proactive, collaborative, multifaceted and innovative in our approaches to tourism development in the region,” he argued. ¤ OECSBusinessFocus Jan / Mar

TOURISM FOCUS

Expedia Reports Increased Searches For Caribbean Travel

Expedia Reports Increased Searches For Caribbean Travel With the winter holidays on the horizon, the Expedia Group is reporting a large influx of searches and interest for travel to the Caribbean. As snowbirds start traveling south, the Expedia Group’s in-depth insights for holiday travel can provide hoteliers the opportunity to better connect with travelers and target the right consumers. The Caribbean is seeing a large influx of group travel (bookings with 3 or more people) around the Christmas holidays with an increase in searches of more than 30 percent for Christmas Day and nearly 25 percent for New Year’s compared to holiday travel searches for 2016. Per Expedia Group search data, the Caribbean destinations with the highest amount of interest for travel during the month of December compared to the same month in 2016 are: • Punta Cana up nearly 10 percent • San Juan up nearly 10 percent • Montego Bay up nearly 25 percent • Aruba up nearly 15 percent “The holiday season is always an exciting time for the Caribbean, as the region receives a wave of travelers from top markets like the U.S. and Canada who are looking to escape the winter cold,” said Rafael del Castillo, Senior Director, Resorts, Market Management, the Expedia Group. “Expedia is proud to work with our Caribbean hotel partners OECSBusinessFocus

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to ensure they are capitalizing on the heavy influx of travelers. Winter season represents an opportunity for partners to utilize Expedia’s platforms, tools and strategies to increase visibility and bookings. Expedia’s local market management team is present to serve as a support system to hotel partners and to provide specific recommendations for hoteliers to best navigate the holiday season.” Data indicates that nearly 30 percent of bookings for the holidays happen more than 3 months in advance, and about 20 percent happen between 31 – 60 days. Additionally, more than 15 percent of holiday travelers book their stays less than 6 days in advance, which allows hotels to push last minute travel deals to entice these travelers to choose their property. The Expedia Group’s hotel partners can take advantage of the company’s experience and understanding of holiday trends to set rates with certain booking windows that can best attract target audiences. Valuable insights also allow hoteliers to fully plan their marketing and distribution strategy depending on their intended audience. Inbound markets to the Caribbean with the highest interest for travel during the month of December compared to the same month last year were the U.S. with nearly 15 percent growth and the UK and France with nearly 20 percent growth from each market. During this time frame, the Caribbean is also seeing growth through mobile searches and packages, which combine aspects like hotel, airfare and/or car bookings. (South Florida Caribbean News). ¤ www.oecsbusinessfocus.com

Caribbean Hotel Insurance Rates Increasing Up to 40 %

Scott Stollmeyer, Managing Director, Barbados and Eastern Caribbean for CGM Gallagher Insurance Brokers

Caribbean Hotel Insurance Rates Increasing up to 40 % Caribbean hoteliers should plan now for an increase in insurance premiums anticipated to range from 10 to 40 percent following two Category 5 hurricanes, which struck several destinations in the region in September 2017. Scott Stollmeyer, Managing Director, Barbados and Eastern Caribbean for CGM Gallagher Insurance Brokers, made the recommendation during a Caribbean Hotel and Tourism Association (CHTA) webinar earlier in November entitled ‘Hotel Property Insurance After the Storms’. He and other panelists advised that now is the time to review coverage to ensure it is adequate to insure against possible future damages, and without compromising coverage, to look at ways to minimize the expected premium increases. Stollmeyer said for the past eight years the Caribbean has enjoyed reduced insurance rates but that will now change. He said following the hurricanes, insurance companies have begun reaching out to their clients informing them of the increases that will occur in their next renewal cycle for inland and beach properties. He explained this will lead to a “hardening” market: “We are going to be in for some challenging times in the next few years.” The increases will affect the entire region, not only those islands that were struck by the hurricanes. “The Caribbean is lumped into one general region and it’s where the reinsurance markets are looking at the Caribbean as a general region – everybody is going to be impacted,” Stollmeyer reported.

Stanley Smith, Certified Public Accountant and Licensed Adjuster with Smith Orloff & Associates, advised hotel owners and managers to be proactive and be their own advocates when handling insurance claims. “It pays to know your policy well before a disaster strikes. First, making sure you’re adequately insured, understanding what’s covered and what’s not, and keeping good records are fundamentals which hoteliers should adhere to.” He provided examples of the claims process and how, because of inadequate planning or not fully understanding their policy, many hoteliers fail to fully recover insurable losses through their claim. He advised that retaining your own advocate or adjuster can assist with facilitating a claim. Magnus Alnebeck, General Manager of Pelican Bay Hotel, Grand Bahama Island, advised hoteliers that before a storm, checklists must be made and photos taken of everything. After the storm, staff must get a grasp of the state the property is in, taking photos of any damage, and managers should make sure that their staff is looked after, as they are the most valuable asset. “What we have found is that the quicker you can manage to create some sense of normality, or as we call it ‘the new normal’, you get people into their routines and it will make the process of getting back quicker,” stated Alnebeck. He advised hoteliers not to wait until the insurance company visits to start repairing the property but to ensure they document any repair work they have done. He also recommended that hoteliers, who usually have a lot on their plate after a storm, should delegate an individual to be responsible for insurance claims. ¤ OECSBusinessFocus Jan / Mar

TOURISM FOCUS

St. Lucia to Invest US$5 Million in OECS Competitive Tourism Project

St. Lucia to Invest US$5 Million in OECS Competitive Tourism Project The St. Lucia Government is to invest US$5 million into the Organisation of Eastern Caribbean States (OECS) Competitive Tourism Project, Tourism Minister Dominic Fedee has announced. The World Bank announced earlier this year that it had approved US$26 million for the project, whose objective is to facilitate access and movement of travellers through a pilot ferry service, rehabilitate select tourism sites such as Fort George in Grenada, Fort Charlotte in St Vincent and the Grenadines, and Castries in St.Lucia, and help position these countries as one multi-island travel destination. Fedee said he was pleased the Allen Chastanet Government had agreed to invest US$5 million into the project noting “one of the biggest components is to increase and improve the façade of the marketplace. “That will help significantly, and provide training for our vendors in merchandizing, sales strategy, customer service, marketing, in all of the other revenue-making opportunities. The other thing is the entire rehabilitation of the market, so that it is more of an enjoyable experience,” he added.

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He told reporters during the the 2017 ARC celebratory flotilla that there was a need for all stakeholders to play their part in ensuring the viability of the tourism industry here.

“

The arrivals are not my numbers, the CTO (Caribbean Tourism Organization) has suggested that St. Lucia is the second fastest growing tourist destination as of September, and those really are the facts.

Fedee said that at a recent Florida Caribbean Cruise Association (FCCA) meeting, one cruise line suggested that while 95 per cent of its passengers de-board, they spent only 20 per cent of their time on shore. OECSBusinessFocus

“That says we have piqued their curiosity, but we have not been able to sustain that curiosity. So a national and collective strategy is needed to ensure that we are all on the same page, and that we are working in cohesion to ensure that there are not just arrivals, but revenue penetration and revenue spinoffs.”

Fedee said that the St. Lucia Tourism Authority (SLTA) was playing its part in marketing the destination, which has resulted in a 10 per cent increase in visitor arrivals. “The arrivals are not my numbers, the CTO (Caribbean Tourism Organization) has suggested that St. Lucia is the second fastest growing tourist destination as of September, and those really are the facts.

“But we all have to do our part. We have to make sure that as a country, private sector, and business people, that we see tourism as an extra market. So when people come to our country, we need to ask ourselves how we tap into the resource that has been brought to us. There needs to be a complete change in philosophy, in approach, and in how we do business,” he added. ¤

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Grenada Attracting More Luxury Cruise Brands Grenada Attracting More Luxury Cruise Brands

RSI Architectural Design & Photography

The Viking Sea made its inaugural call to Port St. Georges, Grenada on November 2 . As Grenada looks forward to strong projected growth for the 2017/18 cruise season, tourism officials are particularly enthusiastic about the luxury brands coming to the destination. Earlier in November, Grenada welcomed two inaugural luxury cruise ship calls, from the Viking Sea and MS Europa 2. Viking Cruises is a luxury brand that was for the second consecutive year, named the #1 Ocean Cruise Line by Travel + Leisure readers in the World’s Best Awards 2017. The Viking Sea, which made its inaugural call on November 2, has a passenger capacity of 930 and crew capacity of 550. Then, on November 14, the MS Europa 2 called at the Melville Street Cruise Terminal, with a passenger capacity of 516 and a crew capacity of 370. The Germany-based Hapag Lloyd Cruise Ship has been awarded the highest distinction as the only 5-stars-plus cruise ship worldwide in the new edition of the Berlitz Cruising & Cruise Ships 2018 guide. Commenting on the inaugural calls from the luxury cruise lines, the Grenada Tourism Association’s CEO Patricia Maher said the destination was delighted to be attracting those high-end, smaller cruise ships. “It is a testament to the high quality experiences offered on island from personalized chocolate tours to delicious rum tasting, to our adventure tours on land and sea and to our warm and friendly people who welcome the guests wholeheartedly,” she said. ¤

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TOURISM FOCUS

New Park Hyatt St Kitts Opens

New Park Hyatt St Kitts Opens Positions the Island into the Tourism Big League

Park Hyatt St Kitts Christophe Harbour, a five-star luxury beach resort that opened recently in the heart of Banana Bay with 300 local permanent employees, has propelled St. Kitts and Nevis into a unique position within the Caribbean tourism industry. “You’re unique,” Mohammed Asaria, Vice Chairman of Range Developments, the developer of the Park Hyatt St Kitts project, said at a press conference while addressing local media representatives, as well as Prime Minister Dr. the Honourable Timothy Harris and Minister of Tourism the Honourable Lindsay Grant who were both seated at the head table. “You have a Park Hyatt, you have a Four Seasons, you have a Marriott – three branded hotels – as well as a number of well-leading independent hotels, which really put you in a unique position compared to some of your peers, and we need to capitalize on that to have future growth in the economy,” he added. Park Hyatt St Kitts Christophe Harbour – the first Park Hyatt hotel in the Caribbean – has received many plaudits in the international press, even making the cut onto coveted lists such as Forbes’ 17 Hot Hotel Openings This Summer, The New York Times’ Hotel and Resorts to Travel to in 2017, Travel + Leisure’s Hotel Openings to Watch Out for in 2017, The Globe and Mail’s World’s hottest and hautest new hotels for 2017, The Telegraph’s The 28 best new hotels for 2017, Forbes’ 25 New Luxury Hotels That Come Highly Recommended, and Vogue’s 2016 Hottest Hotels: The 16 Most Anticipated Openings. There are more signs of St. Kitts and Nevis’ growing stature in the international tourism market – a positive change being ushered in under the Team Unity administration. For instance, for the 2017-2018 season, St. Kitts and Nevis is projected to receive a total of 569 cruise ship calls with over 1.5 million passengers, a record for the twin-island Federation. “Between November 2017, December and January 2018, this economy will see pumped into it EC$199,555,662. That is fantastic news for St. Kitts and Nevis,” Minister of Tourism the Honourable Lindsay Grant said in the National Assembly recently, referring to OECSBusinessFocus

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three-month projections based on average expenditure per cruise passenger (US$111.08) in St. Kitts and Nevis. Minister Grant also announced that, “American Airlines will now provide twice daily non-stop service to St. Kitts from Miami, for the first time in our history for five days a week up from four. The flight will operate inbound Wednesday to Sunday and outbound Thursday to Monday starting December 1st, with the first Wednesday operation taking place on December 6th.” The Minister of Tourism added that, “This news complements the new Delta non-stop weekly service from JFK International Airport, New York and an additional service from Atlanta, as well as our recently added United Airlines stop out of Newark, New Jersey.” The increased airlift is indicative of the surging popularity of St. Kitts and Nevis’ tourism product. Last year October, St. Kitts made it onto The Wall Street Journal’s list of 10 “buzzy, newly accessible destinations…all on the brink of change, to visit next year.” The Wall Street Journal noted that, “long-overlooked St. Kitts is finally gaining traction.” Prime Minister Harris said during the press conference that the growing confidence in the country was seen recently when Adtalem Global Education Inc. looked to St. Kitts and Nevis to temporarily relocate the Ross University School of Medicine (RUSM) from Dominica after the passage of Hurricane Maria. ¤ www.oecsbusinessfocus.com

St Kitts and Nevis’ Big Plans for Yachting

St Kitts and Nevis’ Big Plans for Yachting By Dana Niland

St. Kitts and Nevis has launched a new strategy aimed at growing the destination’s yachting sector. The destination has unveiled a new Yachting Strategic and Implementation Plan for 2017-2022, which will guide efforts to diversify the economy and enhance the tourism sector, according to Tourism Minister Lindsay Grant. “The local yachting sector is a niche market, which is ripe for investment and offers an avenue through which we can promote our Federation and attract new business, a new generation of tourists who are looking for something new and somewhere different, people with disposable incomes and who are not shy about spending on the finer things of life,” he said. Grant added that when the medium- to long- term benefits of the establishment of marinas such as Christophe Harbour, berthing facilities and boat yards are considered, they translate into economic spin-offs that pay dividends for local entrepreneurs and ancillary businesses. “Considering our natural endowments, the Government of St. Kitts and Nevis is equally confident that our nation is naturally positioned to take advantage of this niche market and has identified the yachting sector as a strategic priority area for development,” said the Minister. The potential for exposure of the Federation of St Kitts and Nevis is enormous,” he said. “It is indeed a proud moment for me personally as a Kittitian and in my capacity as the Minister of Tourism,” he continued, adding that all stakeholders from the public and private sector invested their time, energy and effort, and generously shared their expertise to reach to this milestone. “I’m equally elated for the strides that we have made over the last two to three years,” said the Minister. Grant said the Caribbean yachting ground “continues to be the second most important in the world after the Mediterranean,” and that St. Kitts and Nevis is strategically located in the center of the “primary yacht cruising grounds” in the Eastern Caribbean which include Antigua, St Martin and St Barth.

“Our proximity to these nearby locations offers us the opportunity to explore strategic alliances to market a range of islands as a single product very much like the cruise lines do,” he said. “After all the reports and observations from the yachting community, it is already becoming clear that St Kitts and Nevis is dressed to impress and is moving forward.” ¤

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IN THE KNOW

Seven New Professorships Appointed at UWI

UWI AppointS Seven New Professors The Office of Administration of University of The West Indies (The UWI) has announced the promotion of seven Senior Lecturers to the rank of Professor with effect from October 4, 2017. As the highest academic rank at the University, promotion to Professor is only made after a rigorous assessment process and includes consultation with the Deans of the applicants and the Faculty Assessment Committees as well as endorsements from external assessors who review the candidates’ original works. Such careful scrutiny is in line with The UWI’s focus on the advancement of knowledge through excellence in teaching, research, innovation, intellectual leadership, and outreach. These newly appointed professors are: CAVE HILL CAMPUS, BARBADOS Alok Kumar, M.B.B.S., D.M. (Paediatrics), D.CH. Alok Kumar is Professor, Paediatrics, in the Faculty of Medical Sciences and Associate Consultant, Queen Elizabeth Hospital in Barbados. He teaches the undergraduate (M.B.B.S.) course and the postgraduate (D.M.) course in Paediatrics. He has made a significant research contribution in the field of infectious diseases of public health importance with a high volume of research output. He has over 50 presentations at peer reviewed regional and international conferences and 50 peer reviewed publications. He has received many research grants, totalling to over 100,000 US dollars. In recognition of his research contributions, he was awarded the Principal’s Award of Excellence (2014), Fred L Soper OECSBusinessFocus

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UWI CAVE HILL CAMPUS

Award for Excellence in Inter-American Public Health Literature from PAHO/WHO (2013) and Jacques Parisot Foundation Fellowship Award from PAHO/WHO (2005) among many others. As Associate Consultant in Paediatrics at the Queen Elizabeth Hospital, Professor Kumar provides inpatient, outpatient followup care, and on-call services to children as well as supervision of the medical team. The external assessors considered that Professor Kumar’s significant contributions have advanced the field of infectious diseases in the tropics. Specific reference was made to the issue of management of HIV and emerging viral diseases from a public health standpoint. T. Alafia Samuels, M.B.B.S., M.P.H., Ph.D. She is a member of the Barbados National NCD (Non Communicable Diseases) Commission and was the principal author of the Barbados’ Ministry of Health Strategic Plan of Action for NCDs 2015-2019. Her research interests include policy and practice in NCD prevention and control, clinical quality of care and evaluation of NCD programmes. The depth and range of Professor Samuels’ professional accomplishments, in particular her expertise in the prevention and control of chronic non-communicable disease in the Caribbean, impressed the external assessors. She provides, the report stated, a unique and highly desired combination of academic excellence along with a welldeveloped understanding of the need to translate research into policy and practice. www.oecsbusinessfocus.com

MONA CAMPUS, JAMAICA Roger Gibson, M.B.B.S., D.M. M.P.H. (Dist.) Roger Gibson is Head of Psychiatry as well as Professor in the Department of Community Health and Psychiatry. While pursuing his Doctor of Medicine (MD) Psychiatry at The UWI, Professor Gibson obtained his Master’s of Public Health (M.P.H.) (Research) with Distinction from the University of Leeds. Assessors remarked on Professor Gibson’s publication on depression in the HIV/AIDS population which spoke to his sense of caring and compassion for helping individuals disadvantaged by prejudice and stigma. They considered him a talented researcher and clinician, who investigates interesting ideas so as to uncover useful knowledge. Donna P. Hope, B.A., M.Phil. Ph.D. Donna P. Hope is a Professor at the Institute of Caribbean Studies in the Faculty of Humanities and Education. Her areas of academic specialisation include cultural studies, Caribbean studies, media and communication, popular culture, Jamaican popular culture, creative/cultural industries, gender and sexuality, politics and youth development. The quantity of her published output is considered impressive, encompassing two monographs, two edited volumes, plus numerous articles. Assessors pointed to her solid theoretical grasp of relevant academic theory combined with an insider’s knowledge of Jamaican society. She is, they said, an impressive scholar who is making a fine contribution to the study of Jamaican music and culture and to related fields of gender studies and popular culture. Clinton Hutton, B.A. (Hons), Ph.D. Clinton Hutton is Professor in Political Philosophy and Caribbean and African Diasporic Culture, Art and Aesthetics. His work now constitutes, in terms of quality and quantity, a substantial and impressive body of written and visual scholarship. In addition to his books, book chapters, journal articles and abstracts, refereed and non-refereed publications, Professor Hutton has numerous publications of an artistic nature – painting and photographs. External assessors agreed that his substantive and well researched body of scholarship makes very important and original contributions to the fields of African Caribbean thought, political philosophy and culture.

Joseph Plummer, M.B.B.S., D.M. (Surgery), F.A.S.C.R.S., F.A.C.S. Joseph Plummer is Professor and Head of the Department of Surgery, Radiology, Anaesthesia and Intensive Care. The recipient of several research grants, two of which are of particular note: the starting of a Colorectal Cancer Registry and a CHASE Fund grant to improve advanced laparoscopic surgery in Jamaica. He has led the introduction of laparoscopic resections for patients with colon cancer and other minimally invasive techniques for diagnosis and treatment of this and other surgical diseases. His research also highlights the challenges of treating diseases of the colon and rectum in a resource-restricted environment. Academically successful in a challenging clinical environment, assessors noted that Professor Plummer has succeeded at a level to draw the attention of the American Society of Colon and Rectal Surgeons- International Scholar 2010 and the American College of Surgeons so as to be selected as one of its guests in Washington in 2016, only the second such Caribbean surgeon to receive this honour. ST AUGUSTINE CAMPUS, TRINIDAD AND TOBAGO Basil Reid, B.A., M.A., Ph.D. Basil Reid, Professor in Archaeology in the Department of History, was the Lead Archaeologist of the Red House archaeological excavations in Port of Spain, Trinidad and Tobago from 2013 to 2015. The excavation resulted from the accidental discoveries of precolonial material culture commingled with European material culture in several archaeological strata at that site. The Red House project involved collaborations with local and international scholars. Findings from the project will be published in his forthcoming book: An Archaeological Study of the Red House, Port of Spain, Trinidad and Tobago. His research and publication record has earned him an international reputation as an intellectual leader in archaeology, particularly in regard to Caribbean prehistory and cultural heritage. His knowledge of the prehistory of Trinidad and Tobago is particularly impressive and represents the most significant geographic focus of his research. Four of his books – Myths and Realities of Caribbean History, Caribbean Heritage, Archaeology and Geoinformatics: Case Studies from the Caribbean and Encyclopaedia of Caribbean Archaeology - have all received international citations. Feedback from one of his external assessors indicated that Professor Reid has earned a reputation as an international leader in the area of Caribbean archaeology. ¤

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BUSINESS FOCUS IN THE KNOW

Healthy Caribbean Coalition (HCC) Wins Award for Excellence in Civil Society Action

Healthy Caribbean Coalition (HCC) Wins Award for Excellence in Civil Society Action The HCC wins award for excellence in civil society action at the 2nd Global NCD Alliance Forum in Sharjah. The Sharjah Awards in Excellence in Non-communicable Diseases were presented to the NCD alliances with initiatives featured in the NCD Alliance NCD Atlas, which documents 38 case studies and programmes collected from national and regional NCD alliances around the world. The categories are awareness, accountability, advocacy and access. HCC was the winner in the ‘Access’ category, for the Atlas submission ‘Building Civil Society Capacity to Improve Access to Cancer Services for Underserved Populations’, which documented work on The Caribbean Civil Society Cervical Cancer Prevention Initiative (C4PI). The C4PI is an HCC initiative aimed at strengthening the capacity of CSOs to effectively contribute to national efforts around cervical cancer prevention, treatment and control with a focus on addressing service gaps in vulnerable communities. Since 2014 over 7,000 women have been educated, screened and referred where indicated, and 479 individuals have been trained and are actively supporting community outreach. Each submission was reviewed by an independent review panel composed of four international experts. In addition the award comes with a USD $5000 grant, the grant will assist the HCC in supporting national and regional NCD accountability and policy action with a focus on: childhood obesity prevention; strengthening the regional multisectoral NCD response with a focus on National NCD Commissions; and supporting regional and international dissemination, sharing and networking in lead up to the 2018 HLM on NCDs. Everyone at he HCC, the Directors, Executive Director, Technical Advisors and implementing partners are honoured and humbled for having been recognised for this valuable work which has directly and indirectly benefited women in underserved communities across the Caribbean.¤ OECSBusinessFocus

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Microsoft Appoints New Country Manager for T&T

Racquel Moses

Microsoft appoints new Country Manager for T&T Racquel Moses has been appointed as Microsoft’s Country Manager for T&T. In addition to her new role, Moses will also act as the Public Sector Lead for the Caribbean market. Announcing the appointment via a release on Friday, Microsoft said Moses would be responsible for leading a team of professionals operating from the Microsoft office located in St James. Microsoft said Moses was tasked with executing the company’s global digital transformation vision, as well as enhancing customer experience and improving public outcomes through an emphasis on people and sustainable solutions. Moses has over 16 years’ experience in various sectors including technology and is the holder of a Master’s in Management of Technology degree from the Georgia Institute of Technology. Prior to joining Microsoft, Moses held leadership positions at several organisations including the roles of President at InvesTT; Regional Vice President Enterprise Sales at LIME; and Vice President of Managed and Outsourced Services for Fujitsu Caribbean. On her new appointment, Moses said, “It’s a great honour for me to join Microsoft and particularly to lead the local team. “I strongly believe that Microsoft is one of the best companies in the world, in the way it empowers people and enables us to make a difference. “Our country has enormous potential and we have the exciting challenge to help grow not only T&T, but also the region through technology. I feel truly thrilled to be part of this exciting journey.” ¤ www.oecsbusinessfocus.com

EVENTS 2018 regional entertainment, trade shows and conferences

Events

caribbean Energy Conference Grand Hyatt Baha Mar, Nassau, THe Bahamas – JAN 25 - 26, 2018 18th Annual

CARIBBEAN ENERGY CONFERENCE

On Key Issues Facing the Caribbean Energy Sector, Including: • Market Structure and Stakeholder Alignment—Keys to successful project and utility development and management • Financing for Small Countries—Creating structures, mechanisms, bankable PPAs, and a transparent regional approach to financing • Regional Demand—What’s the outlook? What’s in the project pipeline?

Caribbean travel marketplace 2018 Puerto rico convention centre – jan 30 - feb 1st, 2018 The Caribbean’s largest marketing event! Caribbean Travel Marketplace affords tourism suppliers the opportunity to meet face-to-face with wholesalers from around the world selling Caribbean vacation travel over the course of two days of business meetings. For more info visit: https://www.chtamarketplace.com/

CARILEC CEOs and Leadership Conference Barbados – May 20 - 23, 2018 The CARILEC Chief Executive Officers & Leadership Conference is the only Conference in the Caribbean where all Utility CEO’s & Leaders gather to discuss opportunities, challenges, cuttingedge methodologies and best practices that will empower participants to better serve the countries in which we conduct business.

guiding digital adoption to lead global markets hyatt regency, trinidad – feb 3 - 5, 2018 CANTO is pleased to invite exhibitors to join us at our 34th Annual General Meeting at the Hyatt Regency Hotel Trinidad & Tobago co-hosted by Telecommunications Services of Trinidad & Tobago (TSTT). You will have an opportunity to showcase your products, conduct meetings and even present to our operators in an informal and intimate setting.

BMEX Barbados Manufacturers’ Exhibition Lloyd Erskine Sandiford Centre, Barbados – June 2 - 5, 2018 BMEX’s main focus is to provide opportunities for local manufacturers to display and promote their products, while increasing business and consumer awareness locally, throughout the Caribbean and internationally.

TIC 2018 TRADE AND INVESTMENT CONVENTION – JULY 5 - 8, 2018 Center Of Excellence, 17A Macoya Road, Tunapuna, Trinidad, W.I Our mandate is simple: to foster intra and extra regional trade for regional businesses. But we go much further - TIC takes place at the crossroads of the Americas, in Trinidad and Tobago, the region’s financial capital and the largest economy in the Caribbean, with strong links to Central and South American companies and businesses from around the globe! So when you take part in TIC, you’ll do business with more than 35 countries!

OECSBusinessFocus Jan / Mar

Contact: Contact: MAJOR MOVES Rendra Gopee | Assurance Rendra Gopee | Assurance Mobile: | Email: rendra.gopee@bb.ey.com Mobile: +1 +1 758758 722722 81498149 | Email: rendra.gopee@bb.ey.com

BUSINESS FOCUS

MAJOR MOVES A look at Corporate Transitions

Scotiabank has announced the appointment of Stephen Bagnarol as Managing Director of its operations in Trinidad &Tobago, as well as Senior Vice-President and Head of the bank's Caribbean South and East operations effective November 1, 2017 In a statement, Brendan King, Chairman, Board of Directors and Senior VicePresident of International Banking at Scotiabank said, "Stephen's extensive knowledge and experience leading teams and driving results position him well to lead our team in the Caribbean South and East." Bagnarol replaces Anya Schnoor who held the position as Managing Director since 2012 and has been promoted to the position of Executive Vice-President, retail payments, deposits, and unsecured lending for Canadian banking from November 1, 2017. King added that Bagnarol would continue to develop and implement local business strategy for the region in alignment with the bank's strategy and risk appetite and in compliance with government and regulatory laws. Bagnarol joined Scotiabank in 1998 and had his first international assignment in Mexico. In 2005, he relocated to New York as Managing director, Derivatives and Capital markets. In 2008, he was appointed to Senior VicePresident, Wholesale Banking in Panama. In 2011 Bagnarol was appointed to his current role as Senior Vice-President, Wholesale Banking in Peru. ¤

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Garvin Madera took up his position as the newly appointed Chief Executive Officer of Caribbean Airlines (CAL) on Monday 16 October. He stated that he is looking forward to leading the transformation that the airline must embrace if it is to meet the challenges of the fiercely competitive airline industry. Madera is formerly the CEO of Digicel Play, a position he held from December 2015 until early October 2017. Prior to his role as CEO of Digicel Play, Madera served in several key leadership positions at Digicel including Chief Operating Officer, General Manager - Tobago and Chief Technical Officer, managing the company’s full operational portfolio. Madera holds an MBA from the University of Oxford, an LLB from the University of London and M.Sc. and B.Sc. in Electrical and Computer Engineering from the University of the West Indies. The CAL Board of Directors, in a release, expressed their sincere gratitude to the former acting CEO Captain Jagmohan Singh and the Executive Management Team, “who ensured that Caribbean Airlines continued to deliver an enhanced travel experience to its valued customers, while the search for a Chief Executive Officer was taking place.” “The Board and employees look forward to the innovation and collective capabilities that would be developed under the leadership of the new CEO,” the release stated. ¤

The Division of Tourism, Culture and Transportation, and the Board of the Tobago Tourism Agency on 1 Nov 2017 announced the appointment of Mr. Louis Lewis as the organisation’s first Chief Executive Officer. Mr. Lewis most recently served on the Saint Lucia Tourist Board from February 2008 to January 2017, in the capacity of Director of Tourism, as well as Chief Executive Officer. From 2003 to 2006 Mr. Lewis served as Saint Lucia’s Director of Economic Affairs in the Ministry of Finance and Economic Affairs, where he was responsible for the implementation of the budget policy program. Following this post, he was appointed as the Permanent Secretary in the Ministry of Commerce, Trade, Investment and Consumer Affairs, before being appointed as the Permanent Secretary in the Ministry of Tourism and Civil Aviation. In the 1990’s Mr. Lewis held prominent positions in several key Saint Lucia government agencies, including serving as the Head of the Research Department at the Saint Lucia Tourist Board, as an Economist with the Ministry of Finance, as well as an Economic Statistician with the Eastern Caribbean Central Bank at its headquarters in Saint Kitts. Mr. Lewis’ diverse background spans the fields of Tourism Research and Marketing, Economics, Statistics, Consumer Research, Marketing, and Project Management. His experience has equipped him with unparalleled insights in strategic development planning, and places him in a unique professional position. Mr Lewis is a graduate of the University of the West Indies – Cave Hill, with a Bachelor’s Degree in Economics and a Masters of Business Administration. He is also a Certified Bank Examiner, and a Project Management Professional. ¤ www.oecsbusinessfocus.com

Contact:

MAJOR MOVES Rendra Gopee | Assurance Mobile: +1 758 722 8149 | Email: rendra.gopee@bb.ey.com

Rendra Gopee | Assurance Mobile: +1 758 722 8149 | Email: rendra.gopee@bb.ey.com

Digicel, has announced the appointment of Alexander Matuschka Greiffenclau as Group CEO, effective February 2018.

Cable & Wireless Communications (C&W) announced in late December 2017 the appointment of Inge Smidts as Chief Executive Officer.

Greiffenclau will succeed Colm Delves who had signalled to the Board some time ago his intention to step down from his executive role for personal and family reasons. Delves will however remain as a non-executive director of Digicel and will also provide advisory services to the Group.

Smidts replaces John Reid who announced earlier this month that he will step down from the position of CEO in early 2018. Smidts tenure begins in February 2018 and she joins C&W from Liberty Global where she most recently held the position of Chief Marketing Officer.

Digicel thanked Delves for his leadership, noting that over the past 13 years, the company has grown from from US$478 million revenues in eight markets to $2.5 billion revenues across 32 markets with a ten-fold increase in profitability and subscribers.

Prior to her role at Liberty Global, Smidts was Senior Vice President - Residential Marketing and a member of the Executive Team at Telenet Group. While there, she was responsible for Go-to-Market reporting and overseeing the commercial strategy for Telenet’s business.

Greiffenclau joins the company from VEON, a leading global provider of telecommunications services, where he has served as Group Chief Performance Officer since mid-2015. He previously served as Chief Transformation Officer at Nokia Networks. Digicel Group Chairman Denis O’Brien said given Greiffenclau’s telecommunications credentials and experience in dynamic and transforming sectors, “he’s a natural fit for our business.” ¤

Smidts has significant brand and marketing experience having spent over ten years earlier in her career at Procter & Gamble, where she started as Assistant Brand Manager and was regularly promoted, ultimately to Business Leader for the Benelux Paper business. Smidts holds a Master of Economics degree from UFSIA in Antwerp and an MBA in Marketing from the IAE in Aix-enProvence. Smidts commented, “I am excited to take on the role of CEO at C&W and work with the new management team that will lead Liberty Latin America into the future. The prospects for C&W are bright and I look forward to leveraging my experiences at Liberty Global and Telenet to bring a commercial, marketing and customerfocus that will help deliver results.” ¤

CIBC FirstCaribbean has announced the appointment of Colette Delaney effective 8 December 2017 to the role of Chief Operating Officer. As COO, Ms. Delaney assumes responsibility for the performance of the bank’s functional regional business lines – Retail & Business Banking, Cards & Customer Relationship Management, Corporate & Investment Banking, and Wealth Management. She continues to be responsible for the bank’s Regional Country Management including local regulatory and client relationships. Additionally, Ms. Delaney leads the Marketing & Communications and Strategy functions, for which she assumed responsibility in May of 2017. Concurrent with these expanded responsibilities, Ms. Delaney has been appointed a member of the Board of Directors of FirstCaribbean International Bank, Limited. Colette Delaney joined CIBC FirstCaribbean in 2013, and served as the bank’s Chief Risk and Administrative Officer. She is a banking professional of over thirty years’ experience, having begun her career with CIBC in 1987, and previously with National Westminster Bank plc. She holds a Master of Arts degree from St. Anne’s College, University of Oxford in the United Kingdom, an MBA from Cass Business School in London, and received the designation of Associate of the Chartered Institute of Bankers in the United Kingdom in 1989. Prior to joining CIBC FirstCaribbean, Ms. Delaney held the position of an Executive Vice President within Retail Banking at CIBC. She is a former Director of the Canadian Payments Association and Acxsys Corporation. She was also a Director of Skills for Change, a non-profit organization helping newcomers to Canada. ¤

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MAJOR MOVES

MAJOR MOVES A look at Corporate Transitions

Thomas Anthony to lead Exiger’s Immigration, Citizenship & Visa (ICV) due diligence practice in the caribbean region Exiger, the global regulatory, financial crime, risk, and c o m p l i a n c e company, has named Thomas Anthony the Deputy Head of its Immigration, Citizenship & Visa (ICV) due diligence practice and Director, Financial Crime Compliance, for the Caribbean Region. Mr. Anthony joins Exiger from the Citizenship by Investment Unit (CIU) of Antigua & Barbuda, where he was Deputy Chief Executive Officer. In that role, Mr. Anthony managed the daily operations of the CIU, helping to transform it into one of the largest, most efficient, and fastest growing programs in the world. Before this, Mr. Anthony spent more than 26 years in the banking sector – in both commercial and investment banking – in Antigua, St. Lucia, and Miami. “Thomas’s expertise in banking, combined with his deep local knowledge, makes him uniquely qualified to advise the CIUs and the regional banks on how to most effectively address one of the most important issues facing the industry today: the pressure placed on global banks to comply with stringent AML regulations, causing them to ‘de-risk’ smaller, regional correspondent banking relationships,” said Michael Beber, Exiger’s President and CEO. “We are thrilled to welcome Thomas to Exiger, where he will work with both our due diligence and banking experts to assist in evolving standards in the industry and ensure the sustainability of citizenship by investment programs throughout the region.” Exiger’s ICV Due Diligence Practice is a global leader in work related to citizenship by investment programs. The business is part of Exiger Diligence, which provides global public records research and investigative due diligence to global financial institutions, multinational corporations, and governmental agencies. Mr. Anthony holds a degree in banking and finance from City Banking College and a degree in business administration and management from West London College. ¤ OECSBusinessFocus

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Ian De Souza, new Executive Director at Sagicor Cave Hill School of Business and Management The University of the West Indies, Cave Hill campus has appointed Ian De Souza as Executive Director and CEO of the Sagicor Cave Hill School of Business and Management.

Ms. Charmaine Quinland-Donovan appointed Antigua & Barbuda’s first female CIP Chief Executive Officer. Ms. Charmaine Q u i n l a n d Donovan holds the distinctions of being the first national of Antigua and Barbuda and the first woman, to head the country’s Citizenship by Investment Unit (CIU).

De Souza comes to the position with a wealth of business knowledge and experience from a career, which spans 40 years in the financial and banking sector. He served 25 years with the Republic Bank Group, spending the last five years as Managing Director and CEO of Republic Bank (Barbados) Limited. The career banker also held management and executive positions at Bank of Montreal, Toronto, Canada, and Citibank (Trinidad and Tobago) Ltd.

Her appointment as Chief Executive Officer (CEO) took effect on March 27th, 2017.

Driven by a service-oriented impetus and a desire to significantly enhance the Caribbean’s socio-economic fabric, De Souza has utilised his immense financial acumen to spearhead numerous banking initiatives to develop the region’s corporate community and improve conditions for the wider general public. Commenting on De Souza’s appointment, Pro Vice-Chancellor and Principal of UWI, Cave Hill campus, Professor Eudine Barriteau said: “As the Sagicor Cave Hill School of Business and Management seeks to build on 25 years of tremendous achievement, I join the management and staff in warmly welcoming Mr De Souza to the Cave Hill campus community as SCHSBM’s new Executive Director and CEO. He brings immeasurable reputational capital which we keenly anticipate will enable the School to grow from strength to strength.”

Charmaine holds a BSc with first class honours from the University of the West Indies. She is also a Chartered Director and a Certified Anti-Money Laundering Specialist. Charmaine’s employment history includes her almost nine-year tenure at the Eastern Caribbean Central Bank, where she served as Bank Examiner, supervised licensed financial institutions in the Eastern Caribbean Currency Union, led examination teams and served the Eastern Caribbean Securities Regulatory Commission.

Prior to this recent appointment, Charmaine served in the CIU in three prominent capacities; Chief Compliance Officer, Chief Operating Officer and Acting Chief Executive Officer. She was instrumental in shaping and implementing policies and procedures from the establishment of the Unit and making necessary enhancements in response to changes in the industry.

Ms. Charmaine has also worked at the Bank of Nova Scotia, where she was Senior Manager of Compliance for the Eastern Caribbean Region responsible for AML/ CFT and regulatory compliance for nine countries including Barbados and St. Maarten. ¤

“We look forward to his implementation of the School’s expanded programming and the nurturing of existing relationships within this framework.” ¤

www.oecsbusinessfocus.com

MAJOR MOVES A look at Corporate Transitions the organisation’s coaching education, and professional football development initiatives. Shavar Maloney joins LIAT as Corporate Communications Manager. Shavar Maloney joined LIAT (1974) Ltd. as Corporate Communications Manager in January 2017. A native of St. Vincent & the Grenadines, Shavar attended the University of the West Indies where he obtained a Bachelor of Arts in Media and Communications specialising in Public Relations. He has worked as a lecturer in Communications at the Vincent and the Grenadines Community College. Shavar is a Vice Chancellor Alumni Ambassador of the UWI and a member of the Lions Club Kingstown-SVG. He is also an avid blogger and photographer. ¤

Jason Gilead also fairly recently joined Unicomer (Antigua & Barbuda) Ltd TA Courts in the capacity of Country Senior Manager. As country senior manager, he is responsible for Unicomer’s overall operations in Antigua including both branches, its 20,000 sq. ft. distribution center and logistics and distribution operation. Jason brings to Unicomer extensive management experience having previously served as Country Manager for FedEx/ Unlimited Services Plus. He holds a BSc in Management from UWI (hons) and a Master’s in Business Administration M.B.A (finance specialization) from Bowling Green State University in Ohio, USA. Courts has long been the market leader in furniture, appliances and electronics in Antigua and the Caribbean and is a growing player in the micro finance business. Jason hopes to leverage his strengths to further grow the Unicomer brand. ¤

Cricket West Indies (CWI) is pleased to announce the appointment of Dominic Warne as our new Director of Commercial, Marketing and Communications. Dominic comes to CWI with over 20 years’ experience in marketing and sponsorship strategy and activation working for both major brands, sports rights holders and marketing consultancies. Dominic will be responsible for the development and execution of CWI’s commercial, marketing and communications initiatives. This includes: responsibility for the commercial operations and revenue generating activities; enhancing and establishing relationships with territorial boards and commercial partners; directing a new digital function to drive fan engagement, including new products and content; and improving the appeal and effectiveness of marketing campaigns and promotions. The appointment took effect on October 1, and Dominic will be based at CWI’s headquarters in Antigua. ¤

Development.

Former Grenada Football International and English Premier League Star, Jason Roberts, has joined continental governing body, CONCACAF, as its new Director of

In his role, the 39-year-old will be in charge of developing CONCACAF’s grassroots programmes as well as streamlining

Roberts made his name as a dynamic forward in the English professional leagues, representing the likes of West Bromwich Albion, Wigan Athletic and Portsmouth in an 18-year career. He ended his career at Reading three years ago and has since become a respected football television pundit.Roberts is a graduate of the UEFA MIP Executive Course and member of the FIFA Players’ Status Committee. He is one of two new additions to CONCACAF’s development department as former Curacao Head Coach, Etienne Siliee, has also signed on as the Confederation’s new Development Manager of the Caribbean. Siliee will report to Roberts who in turn will report to Chief of Football Officer, Manolo Zubiria. CONCACAF oversees football in North, Central America and the Caribbean. ¤

Dr. Grace-Ann Cornwall, a national of Jamaica, joins the Commission as Head of the Social Development Unit effective October 3, 2017. Grace-Ann is a trained Social Scientist with over a decade of experience in the areas of social research, community development and youth engagement, as well as crime prevention. In her previous capacity as Director for Research and Evaluation Unit in the Ministry of National Security, she coordinated Jamaica’s Five Pillar Crime Prevention Strategy document. Grace-Ann earned a PhD in Social Policy from the Sir Arthur Lewis Institute of Social and Economic Studies, University of the West Indies, Mona Campus. OECSBusinessFocus Jan / Mar

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BUSINESS FOCUS

ADVERTISERS INDEX Advertiserâ&#x20AC;&#x2122;s Index

COMPANY

Page

AMLFC Institute

Capita Financial

Cargo Consolidators

Caribbean Agro Industries Ltd.

Caribbean Alliance Insurance

CARILEC

Cool Breeze

Delta Petroleum

Grenada Steel Works Ltd.

Henderson 2004 Ltd.

KPMG

Ocean Terrace Inn

OECS Commission

Renee's Construction

RSI Architectural Design & Photography

Sagicor

State Insurance Corporation

St. Kitts Investment Promotion Agency West Indies General

5 95

COVERS C&W Business

OBC

C&W Business

IFC

Global Investments - ECFH

IBC

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