The Inter-American Development Bank (IDB) has approved a new country strategy with Trinidad and Tobago for 2021-2025.
It said the strategy aims to help the country implement its digital transformation agenda to achieve more sustainable and inclusive growth, which is the first pillar of its medium and long-term post-pandemic development plan.
IDB President Mauricio Claver-Carone held talks with newly appointed Planning and Development Minister, Pennelope Beckles on the financial institution’s work in Trinidad and Tobago, as well as the IDB’s work on digitalization and climate change in the Caribbean.
A statement issued by the Washington-based financial institution noted that the new strategy will support the digital transformation of the twin-island republic’s economy.
It said the strategy focuses on three areas: improving the business environment to enable digital transformation; expanding the use of digital tools to improve educational outcomes and digital skills and enhancing the delivery of services.
“This new strategy focuses on how the IDB, and Trinidad and Tobago will work together to leverage digital transformation to promote sustainable and inclusive growth,” said Claver-Carone.
“We are committed to helping Trinidad and Tobago maximize the benefits of digitalization to empower the private sector, improve public services, and strengthen institutions and governance.”
Penelope Beckles in welcoming the IDB statement, said “it is indeed timely that the IDB’s new Country Strategy will focus on digital transformation, given the priorities outlined in Vision 2030 and the Roadmap to Recovery.
“Digital transformation will be a critical factor in the post-pandemic recovery and Trinidad and Tobago has taken bold steps towards advancing this agenda including the establishment of a dedicated Ministry of Digital Transformation in 2021.
“The private sector has also signaled that this is an area of great priority to regain competitiveness. We look forward to working with the IDB to facilitate inclusive access to the benefits of digitalization for all stakeholders,” she added.
A key element of the strategy focuses on using digitalization to bolster not only the public sector, and public sector services, but to empower the private sector and individual citizens of Trinidad and Tobago.
The digitalization strategy will enhance and build on the IDB’s partnership with Trinidad and Tobago, which includes its ongoing engagement in key development sectors such as state modernization, urban development and housing, health, energy, transportation, water and sanitation, environment, and the blue economy.
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