Climate finance and development priorities in small island developing states : a case of the State of Grenada

Abstract

As a Small Island Developing State (SIDS), Grenada joins the rest of the world in assimilating the Sustainable Development Goals (SDGs) into national plans and policies. However, executing national plans requires significant local resources which are often augmented by (and proportionally higher) concessional loans or grants from development entities but which come with clear conditionalities. Other major sources of development financing mobilised are private external investments, philanthropic donors and south-south cooperation agreements. Nonetheless, the governments of small states like Grenada as well as least development countries would often find themselves compromising priorities of both immediate and future national goals, in order to obtain the available financial support. A fundamental issue within the SDGs Agenda is climate change, which accordingly influences development support, particularly to SIDS as they are intrinsically more vulnerable. This research examined the realities of Grenada’s development progress and the impacts, if any, of climate finance mechanisms on the country’s development priorities. It did so with a specific review of the relevant literature followed by critical conversations with key individuals who were engaged in this ‘development progress’ in Grenada, and subsequent candid reflections.