Ministry of Finance and Energy

Grenada

Caribbean Growth Forum

 

News Release: Technical Launch of the 2nd Phase of the Caribbean Growth Forum (CGF)

 

 

Traffic Light Report | Monitoring Dashboard | Official CGF Website

 

 

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 About the CGF

WHAT:
The Caribbean Growth Forum (CGF) is a joint initiative by the Compete Caribbean Program, the Inter-American Development Bank, the World Bank, and the Caribbean Development Bank. It is supported by the Canadian International Development Agency, the United Kingdom’s Department for International Development, CARICOM Secretariat, and the University of the West Indies.

The CGF is a facilitated methodology for public-private dialogue around issues central to private sector development and growth. It brings a non-traditional approach to the greatest challenge currently faced by the region – creating sustainable and inclusive growth. The Forum also aims to facilitate an action oriented dialogue around key policy reforms needed across three thematic areas: Investment Climate, Skills and Productivity and Logistics and Connectivity.

Many Caribbean territories have a very good starting point with draft or completed national growth strategies. Therefore, the aim is to identify the priorities within the three pillars of the CGF that can contribute to these national strategies. In this respect, the CGF’s methodology has been designed to result in a consensual, concrete action plan with specific responsibilities and timelines, and it has built in transparency and accountability mechanisms to make sure that, over time, results are delivered.

The CGF is part of the donor agencies’ commitment to support the Caribbean and develop and implement inclusive growth policies that generate jobs and opportunities for all.

WHO:The CGF is a unique platform as it engages all critical players including the public sector, the private sector, academia, the youth, civil society and the Caribbean Diaspora in the dialogue on how to stimulate economic growth.

The CGF is operated by a three-tiered structure: (i) A Steering Committee to guide the overall strategic direction of the CGF and promote its work; (ii) Advisory Board to guide the development and implementation of CGF’s work program; and (ii) A Coordination Secretariat to carry out the CGF’s day-to-day operations.

The Steering Committee is comprised of the Secretary General of CARICOM, President of the CDB, and the Vice Chancellor of UWI.

The Advisory Board is comprised of a mix of public and private sector representatives, civil society, academia and young people from across the region.

HOW: Following the launch, a few topics were selected to be the subject of research and dialogue over the the next twelve-months. Regional conferences will be supplemented with face-to-face encounters at a national level and through virtual fora.

The Forum will utilize newsletters, op-eds, radio and television interviews, regional events calendar, website, intermittent Facebook and Twitter campaigns, town halls and live chats to maintain engagement with stakeholders and to build a constituency of followers.

At the end of the first year, there will be a regional conference mirroring the launch event, where findings of the research and participatory dialogue will be disseminated. The CGF proposes to build a “pro-growth coalition”, through a broad-based, but unified forum that rewards diverse constituencies for active support.

The challenge is to move from an approach focused on sporadic public meetings consulting stakeholders on big issues, to build a pro-growth force rooted in society, possessing real influence, and sustained by credible incentives -and to build it quickly, by providing the differing combinations of incentives necessary to address the group’s most important problems and opportunities.

WHY: The CGF initiative is born of a desire to establish a space for engaging political, business, academic, youth and other leaders of society to shape the Caribbean regional agenda.