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“We welcome the objectives of this initiative and recognise its potential to mobilise more and different forms of finance globally for countries to address climate challenges more comprehensively … The proposals under the Bridgetown Initiative are particularly relevant for multilateral development banks and the reform process they recently launched. We, as the European Union , will continue to work with the IMF [International Monetary Fund] , multilateral development banks and their stakeholders to identify practical ways forward.” Bender , a former World Bank employee, said the Bridgetown Initiative provides real opportunities to make much money available to deal with climate change. u
Ambassador Malgorzata Wasilewska Head, European Union Delegation to Barbados, the Eastern Caribbean States, the OECS and CARICOM/CARIFORUM
for others. The Bridgetown Initiative recognises that that is not going to happen in the short term … We’re saying even that cheque wouldn’t come from the Government; it’d be coming from the windfall of three major sectors – fossil fuel industry, shipping industry and sustainable agriculture, and that is a very different equation than we’ve ever put forward before.” H ead of the European Union Delegation to Barbados, the Eastern Caribbean States, the OECS and CARICOM/CARIFORUM accepted the argument for more accessible financing to address global challenges, such as climate change, to better support the most vulnerable. Ambassador Wasilewska said the multiple long- and short-term crises faced over the past years have proven that the global financial system should be adjusted, but at the same time, public finance was not enough to respond to the climate crisis.
Kevin Bender Director of Greening Sovereign Debt, The Nature Conservancy
change the course of climate change, and change the course of development.” The envoy believes the Bridgetown Initiative has a strong chance of success even though other proposals of a similar nature have not succeeded. “Other efforts have been unsuccessful because they’ve relied heavily on one set of countries writing a very large cheque
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