The Caribbean Development Bank will support the Member States of the Organisation of Eastern Caribbean States (OECS) through financing of capacity-building projects against climate change, a press release announced last week.
The German International Development Agency (GIZ)’s grant of approximately €250,000 was approved for the initiative.
“The grant from GIZ will help our Borrowing Member Countries in the OECS tackle the effects of climate change and make the transition to resilient, low-carbon economies,” said Monica La Bennett, CDB Vice-President of Operations.
The grant will assist Eastern Caribbean states to develop a pipeline of bankable, financially viable and resilient projects to mitigate and adapt to the effects of climate change. It will advance projects beyond the initial idea stage, which will allow them to be considered for funding by the Green Climate Fund (GCF), or the Adaptation Fund.
The first projects will be piloted in Dominica, Saint Lucia, St. Kitts and Nevis, and St. Vincent and the Grenadines.
