The European Union has pledged over €70 to “improve the conditions of people within the Community of Latin America and Caribbean States (CELAC).” The funding is part of a €74 million sustainable development program in accordance with the “Transforming Our World: the 2030 agenda for Sustainable Development”; it intends to support a transition towards sustainable energy and a low-carbon economic growth plan.
In the Caribbean, €9.2 million has been allotted for the technical assistance programme for sustainable energy in the region (TAPSEC) and will focus on three main areas that specifically address the issues of regulation and investment, availability of information on energy, and financing mechanisms for the development of renewable energy and energy efficiency projects. Conversations on clean energy financing have dominated Latin America in recent months, signaling a need for more public-private sector partnerships in many of the middle-income countries of the region. The EU made its pledge during a two-day ministerial meeting with CELAC in the Dominican Republic, October 25-26.
