ST. JOHN’S, Antigua, May 18, CMC -Antigua and Barbuda Prime Minister Gaston Browne says small island developing states (SIDS) like his, continue to advocate for the proper capitalisation of the loss and damage fund that was established just about a year or two ago.
Browne, speaking on his weekly radio programme here, said he had recently participated in an international conference where the issue of debt given that it reduces the amount of fiscal space to fund socio-economic development.
He said many countries are caught up in a “vicious cycle” having to continuously borrow funds to deal with climate related damages, such as hurricanes on an annual basis.
“ So we’ve said to them that, look, we have contributed a little to this crisis, I mean we have a negligible carbon footprint or negligible fossil fuel uses, so we have said to the footprint or negligible fossil fuel uses, so we have said to them that those who pollute must pay and they’re the ones who should be helping with recovery.
“So we have called upon them to ensure that the loss and damage fund that was established just about a year or two ago, that it should be properly capitalised so that we can get some form of grant funding whenever we get hit by a hurricane in order to make funding accessible to assist with recovery, rather than have to have these countries in this vicious cycle, borrowing cycle, and then they criticise you afterwards and say your debt to GDP(gross domestic product) is too high”.
(Details in Business section)
CMC/2026