Agreement outlines key areas of collaboration to build climate resilience to extreme weather and sustainable development across Latin America and the Caribbean
Glasgow – The Inter-American Development Bank (IDB) today announced it is joining the Alliance for Hydromet Development with the World Meteorological Organization (WMO).
The Alliance for Hydromet Development brings together major international development, humanitarian, and climate finance institutions, collectively committed to closing the hydromet capacity gap by 2030.
“Adaptation measures are a priority for the region,” said IDB President Mauricio Claver-Carone. “We are excited to join the Alliance as it will allow us to steer forward areas for improvements in infrastructure development, data collection and reducing hydrometeorological risks. This will enhance multi-hazard early warning systems, climate services, and underdeveloped data collection measures in the Latin America and Caribbean region.”
The document was handed over to the WMO Secretary-General Professor Petteri Taalas at an Alliance event today, during the UN Climate Change Conference (COP26) in Glasgow, Scotland. The Alliance’s focus is closely aligned with the IDB’s work on improving lives in Latin America and the Caribbean (LAC) and its principal aim of achieving development in a sustainable, climate-friendly manner. The Alliance’s work advances efforts build resilience to the impacts of climate change in LAC, a fundamental priority of the IDB’s Vision 2025 for the region.
A key priority action of the Alliance is the establishment of the Systematic Observations Financing Facility (SOFF), designed to help developing countries generate and exchange basic observational data for improved weather forecasts and climate services and crucial for effective climate action.
The IDB has a successful track record of supporting direct investments in hydromet development throughout LAC, including developing a national early warning systems for hydrometeorological events in Peru and ecohydrological modelling in Colombia. The Bank has also contributed to strengthening hydromet networks, capacity building of national meteorological offices, improvements of storage capacity of regional climate data, and use of digital technologies to enhance weather and climate data information in the Caribbean.
By joining the Alliance, the IDB endeavors to promote its goal of closing the hydromet data gap through collective action, direct investment, fostering programmatic approaches, and leveraging financial resources and expertise from the private sector to provide sustainable solutions and modernizing hydromet infrastructure in developing countries.
About the IDB
The Inter-American Development Bank’s mission is to improve lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social, and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance, and training to public and private sector clients throughout the region.