Saint Lucia: CDB Leon emphasizes innovation as important regional development
St. LUCIA: Dr. Hyginus Gene Leon, President of the Caribbean Development Bank, highlighted innovation as an essential component of regional development.
In a statement to the 53rd annual meeting of the CBD, he cited innovation in sustainable livelihoods, resilient economies and regional integration.
“First, we need to be able to have investment activities that can achieve goals that meet our challenges,” he said. “It starts with a challenge, the challenge has a goal, and now we need to know what are the investment activities that can generate that goal, and it comes down to how we use knowledge and the industrialization of knowledge as means of making a warehouse, a bank of investment options that can be translated into investment activities that can meet the objective of solving the challenges.
He further detailed six challenges to be addressed, including food security, water security, which includes sanitation and waste management, energy security, shelter security, education security and health security.
Dr. Leon emphasized the need to take responsibility for the future in order to achieve innovation. This involves the application of three steps: investigation, discovery and transformation strategy. He added that development is a holistic process that addresses the social, economic, institutional, environmental and financial aspects of society.