The 2-year milestone of the programme yields new actions on cybersecurity, besides capital markets & fiscal research.
The Inter-American Development Bank Group (IDB) launched threekey regional initiatives on cybersecurity. Also, capital market integration & fiscal policy under its regional programme titled ONE Caribbean. The initiative aims to foster long-term stability & growth in the Caribbean.
The new actions were presented during the One Caribbean Ministerial Dialogue in Port of Spain, Trinidad & Tobago. This was a high-level gathering that marked the programme’s 2-year milestone. Through this leadership dialogue, IDB governors and regional partners deliberated emerging priorities for shaping the next phase of the program.
Vice President for Countries & Regional Integration at IDB, Anabel Gonzalez, said that regional integration delivers its greatest value when it leads to practical solutions for people. Additionally, businesses, governments across borders, and ONE Caribbean are considering what practical solutions for regional integration may look like. Gonzalez added that in just two years, the program has moved from concept to action. It provided a strategic framework for the alignment of over a billion dollars worth of IDB Group operations across the region. It leveraged an initial USD 20 million in IDB non-reimbursable resources to raise an additional USD 13 million as donor grants. This cultivated high-impact partnerships.
The Cybersecurity Preparedness & Rapid Response initiative, developed in partnership with the CARICOM Implementation Agency for Crime & Security (IMPACS), is delivering a coordinated regional response to escalating cyber threats. ONE Caribbean is offering targeted support for countries in developing cybersecurity action plans. It has also established a dedicated facility offering rapid technical assistance for severe cybersecurity incidents.
ONE Caribbean is partnering with the CARICOM Private Sector Organisation (CPSO) & the Caribbean Development Bank (CDB) to promote deeper financial integration & explore the feasibility of an ambitious regional capital market. This may foster the harmonisation of standards. Also, reduce cross-listing barriers & unlock long-term public & private financing across the region.
