Ernest Hilaire – Deputy Prime Minister of Saint Lucia participated in the launch ceremony of the “Unleashing the Blue Economy of the Caribbean (UBEC) project”.
He referred to the event as an iconic beginning that would strengthen the environment of a blue economy and, the resilience of selected coastal assets across Saint Lucia, Grenada, Saint Vincent and the Grenadines.
The official ceremony took place at the Administrative Centre in Pointe Seraphine, Castries earlier on Thursday morning.
Shedding light on the tourism projects under UBEC, Hilaire who is also the Minister of Tourism added that currently there are five projects that would be undertaken under this initiative. The list includes the Design and Establishment of an Underwater Dive Sculpture Park, the Re-development of the Marigot Bay Waterfront, the Comprehensive Demand Study for the Tourism Transportation Sector, and the Revision of the National Tourism Policy as well as the advancement of the tourism Certification Programme
Notably, as part of the launch of UBEC, currently a USD1,000,000.00 has been injected as a grant component, “My Ministry is also extremely grateful for the injection of a USD1,000,000.00 grant component to blue economy MSMEs to improve their businesses; and I wish to underscore my Ministry’s commitment to harnessing the full potential of the maritime sector,” added Hilaire.
What is UBEC?
Unleashing the Blue Economy of the Caribbean (UBEC) project also known as UBEC is a strategic initiative that aims to enhance the economic growth in St. Lucia through the promotion of marine and coastal resilience across different sectors such as tourism, fisheries, and waste management.
The project also endeavours to promote as well as enhance climate resilience, sustainability, and competitiveness within the island’s blue economy.
As per the synopsis of the project, UBEC not only aims to fortify the foundations of the blue economy but also to facilitate cross-sectoral collaboration by strengthening linkages between relevant industries and sectors.
Besides this, the project is also getting implemented in the sister islands of St Vincent and the Grenadines, Grenada. The project is being overseen by the Organization of Eastern Caribbean States (OECS).
Role of UBEC in Saint Lucia
Currently, the UBEC acts as a flagship initiative as part of the Crisis Response Window that is created to facilitate significant assistance to the Ministry of Agriculture, Fisheries, Food Security, Rural Development. This also aims to handle the looming threat of food insecurity