The World Bank is driving the process to link the entire Caribbean by ferries with the results of an initial assessment being described as promising. The Bank’s Country Director for the Caribbean Sophie Sirtaine says the findings are worth further consideration so a feasibility study will be done.
She warns however that establishing a regional ferry service will initially require significant subsidies from the government.
“We are however trying to see if we can develop it as a public private partnership so as to minimize the impact on the fiscal situations of countries but that still requires a lot of work. At this stage we believe it is be possible to optimize the existing ferry systems that we have, that are not co-ordinated.”
The World Bank’s Country Director for the Caribbean Sophie Sirtaine, speaking at a press briefing ahead of the recent Caribbean Growth Fund Meeting in Saint. Lucia. According to her Caribbean leaders and the private sector have identified proper transportation, an improved investment climate and skills set as the focal points for stimulating regional growth.
“The forum has actually led to about 600 referrals across the different Caribbean countries. Progress of implementation is varied in some countries. The process is ongoing however and we continue to support it to try to get the maximum impact.”
The Caribbean Growth Fund engages all critical players including the public and private sectors, academia, the youth and civil society in the dialogue on stimulating economic growth.