Barbados Prime Minister Mia Amor Mottley has called for greater access to capital and improved disaster financing as part of efforts to build a stronger and more prosperous Caribbean.
Mottley made the comments following a recent meeting at Ilaro Court with the Caribbean leadership of Scotiabank, which has operated in Barbados for 70 years.
The discussions focused on how the financial sector could play a greater role in creating opportunities for Caribbean people and supporting regional development.
According to Mottley, access to capital must translate into access to opportunity. She stressed that governments should not be forced to choose between rebuilding after a natural disaster and maintaining essential services such as health, education and national security.
The Prime Minister highlighted the importance of natural disaster clauses and improved disaster-financing mechanisms, particularly as Caribbean countries remain vulnerable to hurricanes and other climate-related events.
Mottley also called for more Barbadian savers to become investors, arguing that Caribbean capital should be put to work financing regional businesses, housing and infrastructure.
She said the Caribbean already possesses both the savings and talent necessary for development and urged the region to create conditions that would allow more people to share in the prosperity being generated.
