IDB helps Latin America and the Caribbean address climate change

Climate change, environment and food security are among the key priorities for the development agenda in Latin America and the Caribbean over the next decade. With the Bank’s support, countries in the region are starting to prepare for the growing challenges that climate change will impose on governments, the economy and society. The IDB is currently financing the design of strategies for adapting to different climate change scenarios as well as the application of new technologies to reduce emissions of greenhouse gases (GHGs).

The Bank is also increasing efforts to help Latin America and the Caribbean to achieve sustainable development. As part of an agreement to increase the IDB’s capital, as much as a quarter of the IDB’s total annual lending by 2015, or about $3 billion a year, will be supporting projects in the areas of climate change, renewable energy and environmental sustainability. That is a five-fold increase from the current 5 percent.

To address the region’s most pressing climate change needs and increase the impact of its interventions, the IDB is currently preparing a new climate change strategy, which is expected to be approved in March.

• Biofuels and the IDB