MONTEGO BAY, Jamaica (JIS) — Minister of Finance and the Public Service Audley Shaw says he is satisfied with the discussions and outcomes of the 46th annual meeting of the Board of Governors of the Caribbean Development Bank (CDB), which ended today (May 19).

Addressing the closing press conference at the Montego Bay Convention Centre, in St. James, Shaw said participants were involved in “much needed and useful networking,” with full recognition of the challenges being faced by member countries.

“We also recognize the wonderful opportunities that exist for regional collaboration to improve productivity, reduce poverty and foster a new age of prosperity in our region,” he said.

Shaw, who was chairman of the meeting, added that the region is now ripe for private sector development in a number of areas.

“These opportunities arise in the initiatives for private sector development in MSME support and development…and maximizing our natural endowments in agriculture, tourism and renewable energy,” the minister said.

Shaw pointed out that there are avenues for the development and implementation of new and innovative programmes that are aimed at addressing the high levels of poverty in Caribbean countries.

These programmes, he noted, should be centred around human capital development, education and training, community development and stronger and more sustainable safety nets.

He said the task of economic growth and development in the Caribbean may seem insurmountable, but with a collective will and effort, it can be achieved.

“Let us not be daunted by the magnitude of the task facing us, but rather be energized by our ability to craft creative and effective solutions and be humbled by the privilege granted to us to serve,” Shaw urged.