Ensuring Sustainable Social Protection Systems in Barbados
Discussion on the sustainability of social protection systems in Barbados by the Ministry of People Empowerment and Elder Affairs. Exploring the characteristics, importance, and challenges of sustainable SP systems, emphasizing the need for adequate financing and innovative funding mechanisms to achieve inclusive, equitable, and impactful social development.
- Sustainable social protection
- Barbados Ministry
- Financing mechanisms
- Inclusive development
- Innovative funding
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Presentation Transcript
SUSTAINABILITY OF SOCIAL PROTECTION SYSTEMS BARBADOS MINISTRY OF PEOPLE EMPOWERMENT AND ELDER AFFAIRS 16THNOVEMBER 2022
OVERVIEW Social Protection Systems Characteristics of a sustainable system Discussion on characteristics
WHY SOCIAL PROTECTION SYSTEMS MATTER Comprehensive SP Systems: Prevent impoverishment and protect, promote and transform livelihoods and social relations and therein provide significant opportunities for advancement. Promote inclusive, equitable and sustainable development Ensure that we leave no one behind
ACHIEVING SUSTAINABLE SOCIAL PROTECTION SYSTEMS ACHIEVING SUSTAINABLE SP SYSTEMS REQUIRE US TO RADICALLY TRANSFORM OUR APPROACH SO WE CAN TRANSFORM LIVES Three main facets to achieving sustainable social protection systems are; Financing 1) Adequate financial/monetary resources are needed. i. Sustainable programme development 2) Social protection systems must effectively reduce poverty through improvements in the lives and livelihoods of beneficiary . i. Adaptive and resilient social protection 3) Systems need to be able to respond to events which impact existing security nets. i.
FINANCING SOCIAL PROTECTION SYSTEMS FACT: If we take sustainability in the literal sense, there can be no SP without adequate financial resources. REALITY Caribbean countries are amongst the most indebted region in the world. GDP expenditure allocated to social protection systems in LAC increased from 8.5% to 12% between 2009-2019. In Barbados, total percent GDP expenditure is between 12-13% THEREFORE Access to finance is critical to expanding social protection coverage and ensuring sustainable programmes Wider conversations need to be held on financing and innovative mechanisms Sustainability will be limited if we continue to seek financing from traditional sources Social protection systems cannot be funded through local government expenditure and official development finance assistance alone.
FINANCING SOCIAL PROTECTION SYSTEMS TRANSFORM: Innovative Funding Mechanisms Explore funding mechanisms from private businesses, NGO partners Example: SDG Bonds Proceeds feed into government budgets and are then channelled into projects which tackle UN goals Financing is to be linked to public programmes that contribute to the achievement of SDGs in the country.
SUSTAINABLE PROGRAMME DEVELOPMENT SP PROGRAMMES MUST BE SUSTAINABLE AND THIS CAN ONLY BE ACHIEVED IF THEY ARE EFFECTIVE Sustainable SP is Transformative: Adopt a transformative paradigm shift from traditional approaches to multi-dimensional approaches. Reducing poverty and reliance on the state for social support while enhancing capacity to contribute to economic growth and social development. In Barbados; The Strengthening Human and Social Development (SHSD) Project 1) Reduction of extreme poverty through the expansion and consolidation of the Identification, Stabilization, Enablement, and Empowerment (ISEE) Bridge Program II) Reduction of unemployment through improved employment services and demand-driven technical training III) Creation of an efficient Management Information System (MIS) that connects programs executed by various Barbados Government agencies
SUSTAINABLE PROGRAMME DEVELOPMENT CONTD The Strengthening Human and Social Development (SHSD) Project Project went beyond traditional model of financial welfare assistance and offered a holistic intervention Psycho-social personalised support approach Participants also benefited from: counselling, personal development interventions, education and training support, employment access, and health benefits
ADAPTIVE AND RESILIENT SOCIAL PROTECTION Climate change and disaster evenrts pose a significant threat to social protection programmes. Disasters can erase 200% of GDP in a few hours Catastrophic hurricanes, raising sea levels and coastline erosion can lead to; Increased poverty, vulnerability and inequality Injury and death Food insecurity Lose of infrastructure
ADAPTIVE AND RESILIENT SOCIAL PROTECTION CONT D
