11-OPEC Fund Development Forum 2024 - Walking the Last Mile for Small Island Developing States

Panellists:
Senator the Hon. Chad Blackman – Minister in the Ministry of Economic Affairs and Investment, Barbados
Ms. Shaimaa Al-Sheiby - Vice President, Strategy, OPEC Fund
Dr. Didacus Jules – Director General, Organization of Eastern Caribbean States
Ambassador Mere Falemaka – Permanent Representative, Pacific Islands Forum

Throughout the day, we have explored the significant challenges and the journey toward achieving equitable and sustainable development. While this task is undeniably daunting, we have also been inspired by real-world solutions, examples of effective action, and testimonials from the OPEC Fund’s extensive network of members and partners.

As the 2030 Agenda deadline approaches, our Forum has aimed to provide participants with a clear roadmap for transforming compelling ideas into sustainable realities on the ground. We have emphasized that innovation and collaboration are essential keys to accelerating this progress. We have highlighted the need for a coherent approach to strengthening institutions, accelerating infrastructure development, and boosting human potential.

In our concluding conversation, we will focus on the unique needs of Small Island Developing States (SIDs), particularly their substantial financing requirements in the context of their acute climate and economic vulnerabilities. These nations are on the front lines of climate change, facing rising sea levels, increased frequency and intensity of natural disasters, and significant economic disruptions. Their geographic isolation and limited resources further exacerbate these challenges, making it imperative that they receive targeted support and investment.

This session will weave together the main themes of the day, highlighting their interconnectedness and potential to drive accelerated progress towards a sustainable future. We will delve into practical solutions, such as climate-resilient infrastructure, sustainable energy projects, and innovative financing mechanisms that can help SIDs navigate their unique challenges.

By focusing on these critical areas, we aim to underscore our collective capacity for change and the importance of tailored support for SIDs. The OPEC Fund recognizes the urgency of these issues and is committed to being part of the solution. Therefore, the OPEC Fund will announce a new initiative specifically aimed at supporting Small Island Developing States to close the session.