CASTRIES, St Lucia (CMC) – Venezuela Tuesday reiterated its commitment in maintaining the “historical path” towards the development of the Caribbean region, despite what it termed “the imposition of illegal coercive measures unilaterally”.

Addressing the 53rd board of governors meeting of the Barbados-based Caribbean Development Bank (CDB), Ambassador Raul Licausi, who is alternate governor for Venezuela, said Caracas welcomes the approach being adopted by the CDB that focuses on access to financing.

He said it is very relevant for the current economic situation, as it is a fundamental aspect of the development process in emerging economies.

“An obvious reality is that the global demand for financing is enormous, at all levels and in all aspects, while the amount of monetary resources has always been limited.

“The reorientation of access to financing is a central issue in the current financial order, since developing countries require greater support from international financial institutions, with access criteria that not only measure indicators of economic income but that do not depend on subordination,” he told the meeting, speaking on behalf of the regional non-borrowing members of the Barbados-based financial institution.

He said the reorientation is also necessary to the implementation of specific economic policies, and that can also address the vulnerability of these economies to external shocks, natural disasters, and variations in international markets, especially in the countries with the greatest difficulties.

Licausi said that in response to the challenges facing the world today, “we believe in the importance of the reconfiguration of the global economy towards a diversified and multi-polar one”.