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Rhuggenaath calls for segional Solutions to Caribbean challenges

WASHINGTON – The World Bank should adopt a more regional, cross-border approach to address modern global challenges, according to Eugene Rhuggenaath, a board member of the World Bank and former Prime Minister of Curaçao. Rhuggenaath, who advocates for a regional perspective within the organization, believes that his home island of Curaçao could benefit from such an approach. 

WASHINGTON

– The World Bank should adopt a more regional, cross-border approach to address modern global challenges, according to Eugene Rhuggenaath, a board member of the World Bank and former Prime Minister of Curaçao. Rhuggenaath, who advocates for a regional perspective within the organization, believes that his home island of Curaçao could benefit from such an approach.

Currently, the Caribbean territories of the Dutch Kingdom are ineligible for direct financial support from the World Bank, the world’s largest development cooperation institution. Rhuggenaath explains why: “The islands are part of the Dutch Kingdom, and compared to other vulnerable nations, they have a relatively high per capita income.” While these islands can access the bank’s services, they must pay for them. 

Currently, the Caribbean territories of the Dutch Kingdom are ineligible for direct financial support from the World Bank, the world’s largest development cooperation institution. Rhuggenaath explains why: “The islands are part of the Dutch Kingdom, and compared to other vulnerable nations, they have a relatively high per capita income.” While these islands can access the bank’s services, they must pay for them.

However, Rhuggenaath emphasizes that there are issues that affect the entire Caribbean region. “Consider the energy transition, waste management—an enormous challenge for all islands—and climate resilience and coastal protection,” he said. 

However, Rhuggenaath emphasizes that there are issues that affect the entire Caribbean region. “Consider the energy transition, waste management—an enormous challenge for all islands—and climate resilience and coastal protection,” he said.

Pushing for Regional Solutions 

Pushing for Regional Solutions

Rhuggenaath points to Curaçao as an example. “We have a landfill that is filling up quickly. Do we dig another hole to dump waste, or do we search for other solutions?” He stresses that Curaçao cannot tackle this issue alone. “Recycling is essential, but we also need a market for it, which is hard to create locally. Therefore, we should think about regional value chains.” 

Rhuggenaath points to Curaçao as an example. “We have a landfill that is filling up quickly. Do we dig another hole to dump waste, or do we search for other solutions?” He stresses that Curaçao cannot tackle this issue alone. “Recycling is essential, but we also need a market for it, which is hard to create locally. Therefore, we should think about regional value chains.”

The issue is not always a lack of funding, Rhuggenaath continues. “Sometimes, what’s needed is expertise—how do you set up a project? How do you prepare a feasibility study that gains the confidence of international investors?” He also highlights the potential cost-saving benefits of regional solutions. “These projects are expensive, so how can you approach them with a group of islands instead of just one?” 

The issue is not always a lack of funding, Rhuggenaath continues. “Sometimes, what’s needed is expertise—how do you set up a project? How do you prepare a feasibility study that gains the confidence of international investors?” He also highlights the potential cost-saving benefits of regional solutions. “These projects are expensive, so how can you approach them with a group of islands instead of just one?”

A Leader’s Experience in Action 

A Leader’s Experience in Action

Recently, a regional project was launched in the Pacific, which Rhuggenaath believes could also serve as a model for the Caribbean. “If such a project were to be developed, the islands should be able to participate,” he said. 

Recently, a regional project was launched in the Pacific, which Rhuggenaath believes could also serve as a model for the Caribbean. “If such a project were to be developed, the islands should be able to participate,” he said.

Before being appointed by the Netherlands to the World Bank board last year, Rhuggenaath served as Curaçao’s Prime Minister from 2017 to 2021. His background as a leader is proving valuable in Washington. “When I first arrived, we organized a session on pandemic preparedness. I shared my experience from the island, and afterward, everyone said, ‘We’re glad you contributed because you were the only one in the room who had dealt with it in practice.’” 

Before being appointed by the Netherlands to the World Bank board last year, Rhuggenaath served as Curaçao’s Prime Minister from 2017 to 2021. His background as a leader is proving valuable in Washington. “When I first arrived, we organized a session on pandemic preparedness. I shared my experience from the island, and afterward, everyone said, ‘We’re glad you contributed because you were the only one in the room who had dealt with it in practice.’”

Rhuggenaath’s push for regional cooperation could help bring sustainable solutions to the Caribbean’s pressing challenges, highlighting the importance of cross-border collaboration in addressing issues of global concern.

Rhuggenaath’s push for regional cooperation could help bring sustainable solutions to the Caribbean’s pressing challenges, highlighting the importance of cross-border collaboration in addressing issues of global concern.

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