Finance Minister Dr. Nigel Clarke
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Dr. Nigel Clarke
By Javaughn Keyes
Jamaica is looking to create a climate smart financing facility.
Finance Minister Dr. Nigel Clarke says discussions are already underway with prospective partners.
Speaking at the Jamaica Stock Exchange's 19th annual regional investments conference, Dr. Clarke said the fund will focus on the blue economy, including sustainable projects linked to the sea, and the general green economy.
"Projects in the private sector, or I even dare say the public sector projects that are brought to the private sector, can have access to green or blue financing right here in Jamaica. What we're working on is to build a facility here in Jamaica, where the government of Jamaica comes in at the first loss layer to inspire others to come in," he said.
"We're working to have multilaterals at the green financing facility and others, as well as bilaterals, provide funding as well in a way that the government can lever its contribution severalfold. And those funds will be available on concessional terms for investing in projects that have a green or blue lens or feature to them," Dr. Clarke added.
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