The Inter-American Development Bank (IDB) has announced that it will partner with the Caribbean Climate-Smart Accelerator to programme and implement the additional $1 billion in funds that it pledged for climate smart-investments across the Caribbean region at the Paris One Planet summit on December 12, 2017.
This additional funding will build on an existing portfolio of over $200 million for work across the Caribbean region either directly, or through the Caribbean Development Bank.
The idea is to support innovative solutions focusing on low carbon emissions, sustainable infrastructure, and energy efficiency projects.
During the next three years, the IDB will provide $3 million as start-up funds to the Accelerator for the implementation of the Caribbean Climate-Smart initiative, with the first $1.5 million available this year.
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