Latest update November 29th, 2024 1:00 AM
Developing human capital is important if Guyana is to move forward – President Ramotar tells CDB forum
At the opening ceremony of the 44th Annual Meeting of the Board of Governors which was held at the Guyana International Conference Centre (GICC) yesterday, President Donald Ramotar admitted that the development of the country’s human capital is crucial
President Donald Ramotar
to its progress.
He noted, however, that the Caribbean Development Bank (CDB) is playing a significant role in this regard. As recent as Tuesday, a state of the art nursery school was unveiled at Tuschen, East Bank Essequibo. The funding for the $98.8M school was made possible through government and the CDB.
President Ramotar said that the countries with booming economies are not necessarily those blessed with lots of natural resources but those with strong human capital. He said that this is an important point to note and that other member states, particularly Guyana, should recognize the importance of strengthening human capital in health, and other areas. This, President Ramotar said, is vital to the development of the region.
He added that the CDB is one of the most important institutions in the Caribbean.
“We need strong institutions to consolidate our resources in the Caribbean and the CDB is one such institution…The Bank has played an important part already and will continue to do so in the promotion of integration of the region. The Region is facing many challenges. While some countries have graduated from poor to middle income countries a lot of concessional financing to the region is being dried up…”
“The Caribbean states need to build on its successes and immunize itself from some of the difficulties it faces. It would be a tragedy if we retrogress and we need some type of concessional arrangement to ensure steady progress. Many of our problems originate from outside of the Caribbean and have impacted heavily on us,” the President added.
He also stated that what has been clear over the years is that technology has impacted every aspect of life and as such it is important for the Caribbean region to develop ways in which this can be integrated into the agricultural sector among other areas.
He said, “Our food importation bill is too high and we need to continue to see food security as being extremely important. We need to broaden what we produce and harness our agricultural potential and invest in the area.”
“We must always be cognizant of the inequalities that exist in our world and see what policies can be pursued to close the income gap within our region and even internationally. Some of the figures are too startling and that tells us that if we don’t do something we are courting disaster.”
The President highlighted as well the importance for member states to continue to broaden international relations as it is also important in giving countries greater possibilities.
To the CDB members he said, “On the issue of climate change, it is imperative that we continue to fight for a solution. However, one of the big challenges that you can help to make a major contribution in is to help to identify new sources of growth.
“Additionally, and probably more significantly, one of the things the bank needs to look at is how do we deal with the big debts that many countries in the region face. Debts that are becoming a millstone around the necks of the region and helping to retard the development of the region… These are the immediate challenges that confront us .The region or the bank is not short of talent and we can find a way forward.”
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