Caribbean Community (CARICOM) Secretary-General Carla Barnett called for German support for international financing reform and proportionate application of financial standards during the accreditation of German Ambassador Peter Neven on Oct. 28. She reiterated concerns that income measures overlook Caribbean economies’ vulnerabilities and that international blacklisting and de-risking restrict access to banking services. CARICOM supports adopting the Multidimensional Vulnerability Index alongside income measures to determine access to concessional financing and development support. Gross domestic product per capita does not capture exposure to external shocks, climate disasters and debt pressures. Blacklisting and de-risking undermine correspondent banking relationships and impede financial services, trade and investment. Barnett urged Germany, including through its role in the European Union, to support approaches that address regulatory concerns without disproportionate consequences for Caribbean economies. On climate policy, CARICOM will press for ambitious emissions reductions, stronger adaptation measures and adequate, predictable access to climate finance at the Thirty-First Conference of the Parties in Antalya, Türkiye, in November. Existing German support includes EUR 3.9 million for six sustainable development projects under a technical cooperation agreement signed in February 2025 and covering 2025-2029. The projects include energy from organic waste and protection of coral reefs and mangroves.
Caribbean Community seeks German support on financing reform and proportionate financial standards
At German Ambassador Peter Neven’s accreditation, Caribbean Community (CARICOM) Secretary-General Carla Barnett sought Germany’s backing for financing decisions that account for economic vulnerability and proportionate application of international financial standards. She highlighted how blacklisting and de-risking undermine correspondent banking and access to financial services. CARICOM will also advocate ambitious emissions reductions, stronger adaptation and predictable climate finance at November’s Thirty-First Conference of the Parties.