The Caribbean Development Bank (CDB) says it remains committed to building economic resilience and enhancing sustainable trade logistics through partnerships.

The bank reaffirmed its commitment at the inaugural Global Supply Chain Forum, which was hosted in Barbados from May 21-24.

According to a release from CDB, the forum provided a vital platform for knowledge sharing, consensus building, and priority setting, and addressed the unique challenges faced by Small Island Developing States (SIDS).

CDB acting president Isaac Solomon underscored that the forum aligned with the bank’s objectives.

“Our participation in and support for the forum raised awareness and understanding of trade logistics and its nexus with sustainable development, and in doing so, further highlighted the special attention required for SIDS and their heightened vulnerabilities,” he said.

For the CDB, the forum served as an opportunity to address the vulnerability of the region’s supply chains and the need for strategic solutions to minimise these disruptions in lives and livelihoods.

In this regard, CDB’s acting vice-president of operations, Therese Turner Jones, pointed out that the bank’s participation and focus remain on ensuring inclusive, sustainable, and resilient Caribbean economies.

“The forum was a strategic investment for CDB to yield tangible benefits and an understanding of the challenges faced by the logistics sector to enhance trade-led growth in our client countries,” she explained.

During the forum, participating borrowing member countries and CDB representatives examined financing, connectivity, and policy issues, which impact the resilience of Caribbean and global logistics.

This information fed into the Global Supply Chain 2024 Forum declaration – an outcome document with concrete recommendations on actions to address supply chain challenges –  which will be presented at the fourth international Conference on Small Island Developing States in Antigua and Barbuda from May 27-30.

CDB director of economics Ian Durant shared that the bank is keen on promoting knowledge exchange, contributing to innovations and the latest trends and developments in global supply chains. On this note, he explained that through panel discussions the CDB has contributed to and advanced recommendations intended to stimulate trade, foster regional integration, and enhance trade competitiveness.

The bank co-hosted a panel on regional connectivity and services, in collaboration with the CARICOM Private Sector Organisation (CPSO) and the United Nations Conference on Trade and Development (UNCTAD). This created a platform for stakeholders to exchange ideas and explore solutions for greater regional connectivity in the Caribbean.