The Development Bank for Resilient Property (DBRP) was launched in Kingston, Jamaica, with a mission to challenge the status quo and prioritize people and the planet. Dr. Hyginus "Gene" Leon, the bank’s executive director, emphasized that the institution is not just another development bank, but a bank designed for this moment, prioritizing equity, sustainability, and resilience.
The concept of a financial institution dedicated to Small Island Developing States (SIDS) was first introduced at the SIDS Inter-Regional Conference in Cabo Verde in August 2023. The initiative aimed to amplify SIDS voices, mobilize finance for resilient infrastructure, and address regional economic disparities. The fourth International Conference on Small Island States (SIDS4), held in Antigua and Barbuda in May this year, provided further impetus for the DBRP, which aims to address the persistent financial challenges faced by SIDS.
Leon, a former president of the Caribbean Development Bank, told the event co-hosted by the University of the West Indies (UWI) and the PVBLIC Foundation that the launch demands bold action and calls on all stakeholders, including governments, the private sector, academia, and civil society, to rise to the challenge and reshape how development works for people and the planet.
The current system is failing, with climate change accelerating, inequality growing, and outdated financial models locking countries, particularly SIDS, in cycles of debt and despair. Leon emphasized that the DBRP is grounded in a simple but transformative principle: to create lasting stability, we must balance economic, social, and environmental priorities.
The bank will champion the monetization and tokenization of natural assets, create value for natural assets, and promote a regenerative economy with ecosystem services at all nine planetary boundaries. It will also reimagine return by adopting a total cost measure that includes social and environmental impacts and will align every decision with the principle that development must serve both people and the planet.
The DBRP is not just a bank; it’s a rallying point for those who believe we can do better with bigger, bolder actions. Leon called on all stakeholders to own the mission and embrace joint responsibility, urging governments to invest in a future that values resilience over short-term growth, the private sector to put its capital and innovation where they matter most, and academia and civil society to hold the bank accountable and ensure it stays true to its vision.
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Conclusion:
The Development Bank for Resilient Property is a bold initiative that challenges the status quo and prioritizes people and the planet. With its focus on equity, sustainability, and resilience, the bank aims to address the persistent financial challenges faced by Small Island Developing States. As the bank launches, it is essential for all stakeholders to come together to support its mission and ensure that it stays true to its vision.
Frequently Asked Questions:
- What is the Development Bank for Resilient Property?
The DBRP is a financial institution dedicated to Small Island Developing States (SIDS), aiming to amplify SIDS voices, mobilize finance for resilient infrastructure, and address regional economic disparities. - What is the purpose of the DBRP?
The DBRP is designed to challenge the status quo and prioritize people and the planet, promoting equity, sustainability, and resilience. - Who is Dr. Hyginus "Gene" Leon?
Dr. Leon is the executive director of the DBRP, a former president of the Caribbean Development Bank, and a former senior International Monetary Fund (IMF) official. - What is the focus of the DBRP’s work?
The DBRP’s work is focused on promoting a regenerative economy, creating value for natural assets, and reimagining return by adopting a total cost measure that includes social and environmental impacts.
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