Dominica Tuesday called for a new financing mechanisms that allow countries Dominica to move faster as well as developing partnerships that allow the energy transition to become an engine of economic development and growth.
Addressing the 81st session of the United Nations General Assembly (UNGA), President Sylvanie Burton said Dominica’s ambition is not merely to generate clean electricity, but to use clean energy to transform its economy, adding that the international community has become very good at recognising vulnerability.
“We have become less successful at financing the transformation that vulnerability requires. Too often, the cycle is predictable. A disaster occurs, infrastructure is destroyed, and economic activity collapses.
“We then mobilise resources to rebuild what was lost, often through borrowing that substantially increases debt to rebuild what we could have made more resilient from the outset.”
