• Today
    September 22

  • 06:06 AM

Caribbean countries receive millions in climate fund funding

CMC,

Added 03 March 2018

green-climate-fund

SONGDO, Republic of Korea – Several Caribbean Community (CARICOM) countries are to benefit from projects valued at US$1.09 billion approved at the first Green Climate Fund (GCF) Board meeting that ended here on Thursday.

The new approvals bring the GCF portfolio to a total of 76 projects and programmes, amounting to US$3.7 billion in GCF funding to assist developing countries in their low emission and climate resilient development.

According to the GCF, Grenada will receive US$42.16 million for the Climate-Resilient Water Sector with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, while Barbados will benefit from a US$27.6 million project for the Water Sector Resilience Nexus for Sustainability in Barbados with Caribbean Community Climate Change Centre (CCCCC).

The meeting also agreed on a project estimated at US$20 million for the Integrated physical adaptation and community resilience through an enhanced direct access pilot in the public, private, and civil society sectors of three Eastern Caribbean small island developing state, namely Antigua and Barbuda, Dominica, and Grenada.

‘We have had a highly positive week, approving over USD 1 billion in projects, which is a record amount in a single GCF Board meeting,’ stated Dr Paul Oquist, GCF Co-Chair.

“This large volume of projects for both mitigation and adaptation – and the additional US$60 million for readiness support – shows that GCF is ready to shift gear in supporting developing countries to achieve their climate goals. The projects adopted here will make a real impact in the face of climate challenges,’ he added.

The meeting elected Ambassador Lennart Båge and Oquist as its Co-Chairs for 2018, representing developed and developing countries respectively.

The GCF said that a number of significant policy decisions were also made to strengthen its operations, including adopting an Indigenous Peoples Policy, and an Environmental and Social Policy.

In addition to the funding approvals, the Board approved an additional US$ 60 million for the implementation of the Readiness Programme to assist developing countries in accessing GCF funds. (CMC)

JOIN THE DISCUSSION

Dos and Donts


Welcome to our discussion forum here on nationnews.com. We encourage lively debate, but we also urge you to take note of the following:

  • Stay on topic – This helps keep the thread focused on the discussion at hand. If you would like to discuss another topic, look for a relevant article.
  • Be respectful – Meeting differences of opinion with civil discussion encourages multiple perspectives and a positive commenting environment.
  • Do not type in capitals – In addition to being considered “shouting” it is also difficult to read.
  • All comments will be moderated – Given the volume of comments each day, this may take some time. So please be patient.
  • We reserve the right to remove comments – Comments that we find to be abusive, spam, libellous, hateful, off-topic or harassing may be removed.
  • Reproduction of comments – Some of your comments may be reproduced on the website or in our daily newspapers. We will use the handle, not your email address.
  • Do not advertise – Please contact our Advertising Department.
  • Contact our Online Editor if you have questions or concerns.
  • Read our full Commenting Policy and Terms of Use.
comments powered by Disqus

POLL

Barbados has introduced e-passports which feature biometric chips embedded in them. Do you think this will increase security and ease travel?

Yes
No
Not sure

FRONT COVER OF TODAY'S NEWSPAPER

CARTOON

INSTAGRAM