Prime Minister Dr. Drew Urges the International Community to Accept the Use of a Multidimensional Vulnerability Index
BASSETERRE, St. Kitts, October 03, 2022 (SKNIS) – As he continues his call for greater climate action, Prime Minister of St. Kitts and Nevis, the Honourable Dr. Terrance Drew is urging the international community and lending institutions to rethink the criteria currently being used for accessing concessional financing that can help build resilience against climate change.
Speaking on Sunday, October 2, 2022, at a church service of the Eastern Caribbean Central Bank (ECCB) to celebrate 39 years of service to the people of the Eastern Caribbean Currency Union, Prime Minister Dr. Drew called for an end to the use of traditional indicators of development that insufficiently capture the vulnerabilities of small island nations. In most cases, Prime Minister Drew said this system of measurement unfairly prevents developing nations from accessing the help they need.
As such, the United Nations is working with SIDS on the development and implementation of a Multidimensional Vulnerability Index (MVI) that seeks to increase eligibility for small island developing states (SIDS) to receive greater financing to address their unique vulnerabilities.
“We are really seeking for the world to join with us in accepting that the vulnerability index must be considered to allow regions like ours to have concessions when it comes to loans on the international market if we really are to build that resilience that we need,” the Prime Minister said.
“Today, we are enjoying a relatively good standard of living but because of climate change, even with its insidious negative impact on us, we can suffer a major hurricane that can set us back for decades. This is no longer a theory. This is actually what we are facing as a people,” Dr. Drew added.
Climate action and security were topics Prime Minister Dr. Drew addressed during his inaugural presentation to the United Nations General Assembly in New York on September 23, 2022.