EU, IDB Support Protecting and Revitalizing Historic Center of Suriname’s Capital

The European Union (EU) and the Inter-American Development Bank (IDB) have partnered to protect the historic center of Paramaribo, Suriname's capital, from the impacts of climate change. The $3 million adaptation program will rehabilitate a deteriorating 220-meter flood wall, construct a pedestrian pathway, enhance mangrove growth, and provide climate adaptation training.

Paramaribo's historic center, a UNESCO World Heritage Site, is a unique blend of European and South American cultures, architecture, and construction techniques. It is a vital economic and cultural hub for the city, but it is also vulnerable to flooding due to climate change. Sea-level rise and other climate impacts are expected to increase in the coming years, posing a serious threat to the site.

The expected outcomes of the adaptation program include not only increased protection for the site, but also the preservation of cultural and historical buildings that are considered invaluable assets by UNESCO. The program is also expected to promote tourism development and private sector participation in the economic growth potential of the World Heritage Site.

In 2017, Suriname launched the Paramaribo Urban Rehabilitation Program with a $20 million loan from the IDB to contribute to the socio-economic revitalization of Paramaribo's historic center by attracting new residents and commercial activities, restoring and valuing its cultural heritage, reducing traffic congestion, and strengthening the institutional framework for managing its sustainable development.

The new program is an example of the strong partnership between the IDB and the EU. The IDB has been the EU's partner of choice in Latin America and the Caribbean since the first co-financing agreement in 2011, and together they have executed 47 projects worth $2.5 billion.

This partnership is further strengthened by the upcoming EU-CELAC Summit in July 2023, which is an opportunity for a relaunched strategic relationship between EU member states and Latin America and the Caribbean. The summit will be pivotal for rolling out the EU's Global Gateway Investment Agenda in the region to seek solutions to global challenges.