THE HAGUE--Director of the Central Bank of Curaçao and St. Maarten (CBCS) Richard Doornbosch has proposed swapping the significant coronavirus COVID-19 debts of the Caribbean countries in the Kingdom for investments in climate resilience. Doornbosch made this statement during the “Celebrating 70 Years of the Charter” conference in The Hague.
He suggested that the funds freed up by lower debt obligations should be allocated to projects focused on protecting marine ecosystems such as coral reefs, or strengthening coastal and drainage systems.
The Dutch Caribbean countries are facing significant challenges due to the effects of climate change. Addressing these challenges, according to Doornbosch, requires “new and practical solutions that are tailored to the unique circumstances of each country.”
Curaçao owes the Netherlands NAf. 911 million in COVID-19 loans, Aruba NAf. 915.5 million and St. Maarten NAf. 316.4 million.
https://www.thedailyherald.sx/islands/swap-covid-19-loans-for-climate-resistance
