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Financing sustainable development in the Organisation of Eastern Caribbean States: A transition finance diagnostic

Author

Listed:
  • Cécilia Piemonté
  • Jieun Kim
  • Olivier Cattaneo

Abstract

This paper gives an overview of all development finance sources available to countries of the Organisation of Eastern-Caribbean States (OECS) for enhancing their economic and climate resilience, and progress towards their Sustainable Development Goals (SDGs). After reviewing political and macroeconomic contexts, it examines some of the specific challenges and opportunities they meet in financing their development, including the mobilisation of private finance and domestic resources; public debt sustainability; and the alignment of official development finance (ODF) with their evolving needs. It stresses the risks of inadequately preparing for the end of eligibility to official development assistance (ODA), when countries reach high-income status while remaining highly vulnerable. Finally, it presents recommendations for the OECD Development Assistance Committee (DAC) members to better support and accompany OECS countries as they transition to higher-income status.

Suggested Citation

  • Cécilia Piemonté & Jieun Kim & Olivier Cattaneo, 2024. "Financing sustainable development in the Organisation of Eastern Caribbean States: A transition finance diagnostic," OECD Development Co-operation Working Papers 115, OECD Publishing.
    • Handle: RePEc:oec:dcdaaa:115-en
    DOI: 10.1787/62a4deae-en
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    More about this item

    Keywords

    Eastern Caribbean States; ODA graduation; oecs; official development assistance; SIDS' vulnerabilities; small island developing states; transition finance;
    All these keywords.

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • F00 - International Economics - - General - - - General
    • F30 - International Economics - - International Finance - - - General
    • H84 - Public Economics - - Miscellaneous Issues - - - Disaster Aid
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • Z3 - Other Special Topics - - Tourism Economics

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