Antiguaand Barbuda Minister of Foreign Affairs and International Trade, the Hon.
Charles Fernandez, made a call for increased partnerships among Small Island
Developing States (SIDS) to build resiliency to common vulnerabilities.
In
an address given at the 2014 Small Island Developing States (SIDS) Conference
in Apia Samoa, Minister Fernandez indicated that the small size of SIDS
economies increases the risk for large investment projects and thus acts as a
deterrent to potential investment. Such risks, he suggested however,
can be mitigated if four or more SIDS approach creditors together as
joint stakeholders in individual projects; offering a safer investment
for creditors and reducing the financial stress on individual SIDS countries.
The Foreign Minister also urged for
the international community to consider debt forgiveness or debt restructuring
at levels of interest favourable to small states and a reconsideration of the
criteria used to determine the eligibility of SIDS for Official Development
Assistance. Additionally, he called for urgent attention to be given to the
issues of gender equity, youth participation within SIDS and the
operationalization of the Special Climate Change and Adaptation Fund to greater
assist SIDS face the challenges of climate change.
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