Proposal to establish a Caribbean Resilience Fund: A segregated portfolio trust fund

Sheldon McLean and Justin Ram

Studies and Perspectives – ECLAC Subregional Headquarters for The Caribbean from Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL)

Abstract: Caribbean economies have been grappling with high debt, low growth and structural challenges which have been exacerbated since the onset of the COVID-19 pandemic. There is, therefore, an urgent need to reduce debt and promote resilience building for these economies. The Economic Commission for Latin America and the Caribbean (ECLAC) has proposed the establishment of the Caribbean Resilience Fund (CRF) as a mechanism to contribute to the achievement of these critical development goals. The CRF is a special purpose financing vehicle intended to leverage long-term low-cost development financing for the Caribbean, while at the same time ensuring the availability of resources for investment in adaptation and mitigation initiatives, in the development of green industries thereby promoting resilience building and the structural transformation of Caribbean economies. To advance the implementation of the CRF, this study provides a roadmap for its structure and establishment, which comprises three distinct thematic windows. They include resilience building; inclusive growth and competitiveness; and liquidity and debt reduction.

Date: 2022-02-08
New Economics Papers: this item is included in nep-fdg
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Persistent link: https://EconPapers.repec.org/RePEc:ecr:col033:47740

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