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FEATURE STORY

2012 Small States Forum - Sustainable and Inclusive Growth: Leveraging the Blue Economy and Accessing Finance for Climate Change and Natural Disasters

October 13, 2012

 

The 2012 Small States Forum took place on October 13, 2012 during the World Bank's Annual Meetings in Tokyo, Japan. The Forum focused on two critical aspects for sustainable and inclusive growth in small states:
 
Leveraging the Blue Economy: Sea and ocean resources are potential sources of growth and employment. Maritime resources such as fishery, tourism, sea bed mining have not been fully utilized in a sustainable manner. There is potential to leverage this blue economy by generating income and employment. Governance reforms, regional cooperation, and domestic policies to support these efforts is essential. Participants also discussed the challenges, best practices, and policy actions and potential areas of international support, including the World Bank’s work on the Global Partnership for Oceans. 

International Support for better dealing with natural disasters and climate change, with a particular emphasis on policy actions as well as identifying financing sources for this support. Participants discussed how the World Bank and other international organizations can assist countries access financing that focusses on tackling climate change, such as the Climate Investment Funds and Global Environment Facility.