May 4, 2012
Caribbean to access $10.6 million in climate change financing through IDB
Grant from the Climate Investment Funds will support regional adaption measures
Caribbean countries and regional organizations will apply a $10.6 million grant from the Climate Investment Funds (CIF) to carry out a regional track of activities to address the impact of climate change, the Inter-American Development Bank announced today.
At a recent meeting of the CIF’s subcommittee for the Pilot Program for Climate Resilience (PPCR), members endorsed a strategic investment program for the Caribbean region that will fund activities in four areas:
- Improving geospatial data and management for adaptation planning, sea level rise and storm surge impact analysis.
- Consolidating and expanding the regional climate monitoring network and global platform linkages.
- Downscaling and expanding climate projection models and high-resolution maps.
- Applied adaptation initiatives.
The Caribbean Regional PPCR is a collaborative effort between six participating countries—Dominica, Grenada, Haiti, Jamaica, St. Lucia and St. Vincent, each with its own national program and the Caribbean Community Climate Change Center serving as a focal point for the regional track of activities. Lessons learned from CIF-funded projects will be disseminated to other non-participating countries in the region.
The Climate Investment Funds include the Clean Technology Fund (CTF) and the Strategic Climate Fund (SCF), which are financed with contributions from donor countries. The Pilot Program for Climate Resilience is a targeted program funded by the SCF. CIF funds are disbursed through multilateral development banks such as the IDB.