The Eastern Caribbean will receive US$80 million in funding for geothermal development, part of a US$745 million project approved by the Board of the Green Climate Fund. The Inter-American Development Bank (IDB) is cooperating on the $80 million package for the Sustainable Energy Facility of the Eastern Caribbean. The overall project aims to help countries reduce their emissions and adapt to the impacts of climate change. The funding package will address barriers to development and seek to alleviate those barriers through: contingent grants for drilling exploration, concessional loans, and technical assistance to improve regulatory frameworks. Five countries of the Eastern Caribbean will be open to receive the package: Dominica, Grenada, Saint Kitts & Nevis, Saint Lucia and Saint Vincent & Grenadines. The document is available on the Green Climate Fund website and offers information on the different components financed, and the relevant partners for the package.
Read more here:
http://www.thinkgeoenergy.com/funding-of-up-to-80m-approved-geothermal-development-in-the-caribbean/
