The new UK Department for International Develop-ment (DFID) in the Caribbean has announced that it will provide £4.9M to enhance the monitoring and evaluation framework at the Caribbean Community Climate Change Centre.
In a press release, the British High Commission said the sum will boost the region’s coping mechanisms by developing a monitoring and evaluation framework for the Implementation Plan for the Regional Framework for Achieving Development Resilient to Climate Change as well as improving risk analysis.
The Caribbean region, which has one of the highest energy prices in the world, will also receive £1.46M through IDEAS, an initiative which will support businesses developing innovative renewable energy and energy efficiency projects.
In addition, £500,000 was pledged to the Caribbean Export Development Agency to support the Break Point initiative, which is designed to identify emerging entrepreneurs and businesses. The funds will also help in organising an Investment Forum in the UK which, will run alongside the London 2012 Olympic Games.
Duncan also announced the winners of the Compete Caribbean Enterprise Innovation Challenge Fund. Compete Caribbean is a US$40M private sector development programme, that seeks to improve the competitiveness of Caribbean countries. Compete Caribbean is funded by the IDB, CIDA with DfID contributing £10M. DFID Minister Alan Duncan said, “In the current economic climate, it is vital that the private sector takes the lead in defining new areas of competitive advantage and help countries emerge from the downturn.”
