Prime Minister Gaston Browne celebrated the United Nations’ adoption of the Multi-Dimensional Vulnerability Index (MVI), a significant development for countries like Antigua and Barbuda.
Unlike the traditional Gross National Income (GNI) metric used by the World Bank and IMF, the MVI offers a comprehensive assessment for eligibility for concessionary loans.
All UN member states adopted the MVI unanimously on Wednesday, July 10th, following nearly three years of dedicated efforts, with Antigua and Barbuda playing a leading role.
The adoption was finalized during the “Silence Procedure” at the UN, where no objections were raised, indicating full endorsement.
Prime Minister Browne expressed pride in his country’s contribution to the MVI, highlighting its importance for vulnerable states, particularly small island developing states.
He emphasized the index’s role in facilitating access to development funding and serving as a strategic tool for assessing vulnerability and resilience in developing countries.
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