BVCOCT

10 11 ened cooperationwith CARICOM,through amemorandumof under- standing the two parties signed recently,could not come at amore opportune time.Its strategic focus is on disaster prevention and disaster risk reduction as well as renewable energyand energyefficiency. Emphasizing that the policyof providing development funding based in GDPper capitamust change,he noted that post hurricane reconstruc- tionwas likely to artificially inflate GDP. CARICOMhas long advocated that access to concessional develop- ment financing should not be based onwhat the Secretary-General described as the“grossly inadequate and inaccurate criterion”of GDPper capita.This criterion has resulted in the graduation of most CARICOM countries fromaccessing concessional financing. “We believe that this,as applied to SIDS,must be changed as amatter of urgency to include the concept of vulnerability,”he stated as he urged CARICOM third states partners,includingAustria,to lend strong support to the Community’s efforts to effect this change. LaRocque told the newAustrian envoy that this was a particularly trying time for CARICOMgiven the economic situation inmanymember states,which recent weather events have compounded.He added that the burdensome debt that confront member states,were in largemea- sure incurred through demands for reconstruction after climate events. He noted,therefore,that therewas urgent need for international devel- opment partners to re-examine the criteria for access to resources such as the Green Climate Fund. TheAustrian ambassador is on her second tour of duty in that capacity in the region.Against this backdrop,the Secretary-General noted that CARICOManticipated shewould be“a source of influence in promoting awareness”of the Community’s capabilities and the limitations in its aspirations for economic development. Such limitations include what he described as “economic dis- crimination” instituted through labels of some member states as non-cooperative tax jurisdictions, despite not being so labeled by the relevant global authorities.He called on Austria to encourage other member states in the EU to desist from such punitive actions and to be guided by the informed position of the Financial Action Task Force and the OECD Global Forum. OPENING LINES