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27.1. Grenada is a small, open and vulnerable economy (vulnerable to external shocks and to natural disasters). (...)

27.11. As a Small Island Developing country, Grenada is constrained in its development by a number of factors. These include: susceptibility to natural disasters; limited diversification due to a very narrow resource base and small domestic market; limited domestic and export production on a limited number of products; Inadequate Infrastructure; and low levels of productivity.

29.1. The National Sustainable Development Plan (NSDP) is Grenada's overarching strategic high level planning document that will anchor the country's development agenda over the period 2020-35. (...) The specific National Goals, Objectives and Targets that are set, which are consistent with the United Nations' Sustainable Development Goals, are aimed at making Grenada, a resilient and prosperous nation, with a conscious and caring citizenry, promoting human dignity, and realising its full potential through sustainable economic, social, and environmental progress for all.

29.2. Through the strategic actions that will be taken to achieve Vision 2035, Grenadians will become empowered to see themselves as being capable of achieving greatness; (...) our natural environment will be better protected; and our governance arrangements and institutions will be bolstered.

29.3. The strategic focus of the NSDP[National Sustainable Development Plan] 2020-2035 rests on the three sustainable development pillars; the society, the economy, and the environment. Accordingly, Vision 2035 is translated into the following three National Goals.
(1) Goal #1: High Human and Social Development: Putting People at the Center of Sustainable Development and Transformation.
(2) Goal #2: Vibrant, Dynamic, Competitive Economy with Supporting Climate-and-Disaster-Resilient Infrastructure.
(3) Goal #3: Environmental Sustainability & Security.

29.4. The National Goals are mapped into eight National Outcomes, which are the improvements or positive changes in institutions, systems, communities, behaviours, living conditions, or knowledge that we aim for. Each National Outcome is linked to relevant Sustainable Development Goals (SDGs). The National Outcomes are:
(...)
(4) Outcome #4 - Broad-based, Inclusive, and Sustainable Economic Growth and Transformation
(...)
(6) Outcome #6 - Modern Climate-and-Disaster-Resilient Infrastructure
(7) Outcome #7 - Climate Resilience and Hazard Risk Reduction
(8) Outcome #8 - Energy Security and Efficiency.

1.1. (...) As a small island economy, Grenada is susceptible to external shocks such as natural disasters, and global market fluctuations.

1.3. Grenada's economy was hit hard by two hurricanes (Ivan 2004 and Emily 2005) at the beginning of the new century. According to the authorities, the damages by the hurricanes exceeded 200% of GDP; 90% of the buildings (including tourism facilities) and a large percentage of tree crops were damaged or destroyed. (...)

1.7. (...) Significant efforts were made to diversify the export base, strengthen human capital, improve the investment climate, and build climate resilience. However, the pandemic and 2021 volcanic eruptions, had highlighted Saint Vincent and the Grenadines' significant vulnerability to external shocks and natural disasters. The report notes that the authorities' proactive policy responses, supported by two IMF Rapid Credit Facilities (RCFs) and financing from other international financial institutions, mitigated the socio-economic impact of the shocks and helped contain economic scars. The two RCF disbursements approved were if SDR 11.7 million (100% of quota) in May 2020, to address the COVID 19 pandemic and SDR 8.17 million (69.85% quota) in July 2021, to address the fallout from the volcanic eruptions. The financing helped the Government finance two fiscal packages to provide critical support to households and firms affected by the shocks and the vulnerable. (...)

2.10. A Strategic Development Plan, Vision 2030 was announced on 26 November 2014. In this Plan, Grenada identified six strategic priorities to pursue, including: to enhance government; to foster a competitive private sector; to improve infrastructure; to stimulate innovation; to fight against climate change; and to build a caring society.