NASSAU| Prime Minister Philip Brave Davis KC welcomed delegates for the third annual meeting of the Evaluation Development Network of the IDB in the Bahamas which was organized by the IDB and The Bahamas Development Bank.
The conference gathered to discuss the merits of Monitoring and Evaluation (M&E) in guaranteeing better developmental outcomes for countries in the region.
Taking delegates to periods of shocks in the region PM Davis said, “We saw this with the 2008 financial crisis. Due to high reliance on the US for trade, foreign direct investment, and tourism, The Bahamas and many other anglophone Caribbean nations experienced contracted growth.
“That was almost two decades ago, and yet it still seems that when certain countries sneeze, our economies end up in the hospital. With COVID-19, this is literally what happened.
“Sustained economic growth for the Caribbean and Latin America will depend on our ability to successfully manoeuvre the levers of national development in unprecedented ways.
“To ensure that we are improving collectively, we must begin coming together, as we are doing today, and we must begin learning from one another and forging new pathways to work collaboratively toward our mutual goals.
“This must apply, not just to our immediate neighbours, but throughout our region and the world.”
Reminding the conference how countries can work together, the PM recalled how his official visit to Botswana opened new opportunities for the Bahamas.
“On my visit to Botswana in March, I had the privilege of meeting with President Masisi to strengthen bilateral ties.
“A few months later, my government partnered with the Afreximbank to host its 2024 annual meeting, as well as the AfriCaribbean Trade and Investment Forum, in Nassau, our capital.
“Most recently, I attended the 9th ALM Africa Summit in London, where I stressed that Africa and the Caribbean have much in common, and much to gain from greater cooperation.
“The same is true, my friends, for Latin America and the Caribbean.
“We stand to gain so much by comparing policy visions, sharing implementation success stories, and harmonising development efforts across our diverse industries and territories.
“Collaboration and information sharing will be imperative if our region is to enhance its strategic flexibility, not least in this unpredictable era of climate-driven disasters.”
The Prime Minister noted that Rigorous M&E will be key in guaranteeing value for money, accountability, and continuous learning in development projects.
“We have similar challenges, so let us look for common solutions.”
– Davis Communications
