The Tribune

KPMG Bahamas yesterday said it will be a title sponsor of the Caribbean Infrastructure Forum (CARIF), which will be held from December 11-12 in Montego Bay, Jamaica.

Following successful KPMG Island Infrastructure summits in 2011, 2013 and 2015, the accounting firm is partnering with host IJGlobal, the infrastructure arm of Euromoney Institutional Investor, and New Energy Events, the organisers of the Caribbean Renewable Energy Forum, to gather a broader cross-section of decision makers, executives and financiers to discuss the region's needs, explore structures and partnerships, and introduce projects to international financing sources.

Dr Warren Smith, the then-incoming Caribbean Development Bank president, predicted in 2014 that $30 billion would be required over the next decade to modernise the region's energy, transportation, telecommunications, and water and wastewater sectors.

As the extent of the threat posed by rising sea levels and unpredictable weather patterns is better understood, KPMG said the need to invest heavily in climate resilient infrastructure across multiple sectors has become clearer. It added that $30 billion now appears to be a conservative estimate.

"We are very excited to partner with IJGlobal, New Energy Events and fellow title sponsor, CIBC First Caribbean, to host a consolidated regional infrastructure event which gathers the market," said Charlene Lewis-Small, a KPMG (Bahamas) director and its infrastructure lead.

"CARIF is set to be the catalyst which will drive the flow of financing and investment into critical regional infrastructure projects now and for years to come, as it draws an expansive audience of project sponsors and developers, providers of multilateral and private capital, and regional governments."