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IDB Invest partners with the Green Climate Fund to promote climate investments in the Caribbean

07/19/2024 Since 4 months

With the aim of promoting greenhouse gas emission reduction and climate-resilient private sector investment towards the Caribbean, IDB Invest together with the Green Climate Fund (GCF) -an operating entity of the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC)- joined forces to launch the “Caribbean Net Zero and Resilient Private Sector Program, funded with 118.9 million dollars resources in blended concessional and technical assistance.

The Program seeks to accelerate private sector investment in climate change mitigation and adaptation projects in the Caribbean, by providing targeted technical assistance financing and specific blended financial solutions to bring projects to the frontier of commercial viability. The participating countries are Bahamas, Barbados, Belize, Dominican Republic, Guyana, Jamaica, Suriname and Trinidad and Tobago. The five priority sectors of the Program include: i) sustainable and climate-resilient infrastructure; ii) renewable electricity generation and energy efficiency; iii) sustainable transportation; iv) sustainable agriculture and forestry; and v) blue economy.

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