BRIDGETOWN, Barbados – The Caribbean Development Bank (CDB) is supporting member states of the Organisation of Eastern Caribbean States (OECS) in their efforts to build capacity to develop robust climate change projects for financing.
The bank’s board of directors has approved a grant from the German international development agency, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), in the amount of €249,860 for the initiative. CDB and the OECS commission contributed €24,986 and €12,493, respectively to the venture.
“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.
Following the Paris Agreement, the historic international climate change deal made at the 21st conference of the parties to the United Nations Framework Convention on climate change (UNFCCC) in 2015, the OECS countries outlined their intended climate actions after 2020 to meet their obligations under the Paris Agreement.
The grant aims to assist Eastern Caribbean countries in developing bankable, financially viable projects to tackle climate change.
