Hinkson puts Barbados case for EU support

Barbados has called on the European Union (EU) to support its case for the provision of concessionary loans from international development agencies. The plea was made by Government backbencher Edmund Hinkson while representing Barbados at the 41st Session of the ACP/EU Joint Parliamentary Assembly in Strasbourg, France last weekend.

“We call on the EU to support our contention that loans granted by international development agencies to Barbados and other SIDS [Small Island Developing States] in the Caribbean, should be on a concessionary basis,” Hinkson, a former home affairs minister told the assembly.

“This ought to be the case regardless of whether or not we have acquired medium to high per capita income ratings since we are all significantly and highly vulnerable to natural disasters and adverse weather conditions. The probability of these realities has increased in recent times as a result of climate change which we have by no means played any major part whatsoever in creating,” he declared.

The assembly, which focused on Enhancing the Resilience of Small Island Developing States Against Climate Change and Natural Disasters, heard Hinkson lament the fact that Barbados has been assessed by international lending and developmental agencies as being a medium to high income earning nation on a per capita basis for about the last 30 years.

Noting that European Union countries are significant members of such institutions, Hinkson argued that the funding criteria being applied to Barbados has resulted in a “regrettable” policy to deny this island the capacity to access concessionary funding from developmental agencies.

“This situation does not take into account the fact that Barbados, a low-lying nation of only 166 square miles, is susceptible for at least six months every year to hurricanes and floods which in a few hours can potentially easily wipe out 100 per cent of our GDP,” he stated.

Hinkson recalled that only in June last year, Barbados experienced the first direct hit from a hurricane in 66 years, Hurricane Elsa,.

He explained that this event came on the heels of “unparalleled” expenditure by Government to mitigate the adverse effects of COVID, of the explosive eruption of La Soufriere Volcano 90 miles away in St. Vincent and the Grenadines, as well as of a freak storm just a week before the hurricane.

“We have been able in recent times, for example, to negotiate natural disaster provisions in our external loan agreements by virtue of which the advent of a severe natural disaster would trigger a waiver in our interest payments for two years post the disastrous event.

“Barbados is doing its best, with assistance from some of our international partners such as the EU, in our attempt to improve our resilience to climate change and natural disasters. We have for example embarked on a roofs to reefs programme in a commendable attempt to buttress our defences against these adversities,” the Government representative declared. (EJ)