BRIDGETOWN, Barbados, CMC – Prime Minister Mia Mottley will hold talks with the United Nations Secretary-General António Guterres and other key stakeholders this week.
A brief government statement said that Mottley, who left here on Monday for the United States, will discuss the Bridgetown Agenda with Guterres.
The Bridgetown Initiative proposes to reform the world of development finance, mainly how rich countries help poor countries cope with and adapt to climate change.
Barbados sets out three critical steps in the Bridgetown Initiative. The first involves changing some terms around how funding is loaned and repaid. The aim is to stop developing nations from spiraling into a debt crisis when successive disasters like floods, droughts, and storms force their borrowing.
Secondly, Barbados asks development banks to lend an additional one trillion US dollars to developing countries for climate resilience.
The third step in the Bridgetown Initiative is to set up a new mechanism – with private-sector backing – to fund climate mitigation and reconstruction after a climate disaster.
Barbados believes this Global Climate Mitigation Trust could leverage between three and four trillion US dollars of private funding.
The government statement said that Prime Minister Mottley will also meet with Canadian Prime Minister Justin Trudeau, co-chair of The SDG Advocates, and members of the United States Congress.
She returns to Bridgetown on Thursday.
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