Last month the Caribbean Development Bank (CDB) and the Agence Française de Développement (AFD) signed an agreement to provide USD$33,000,000 towards sustainable infrastructure projects in the Caribbean.
According to a CDB press release, at least 50 percent of the funds will be used for climate change adaptation and mitigation projects.
“Caribbean countries are particularly vulnerable to the impacts of climate change, with our geographical location leading to high exposure to natural hazards. Economic conditions also play a role, as there is a lack of access to long-term resources to finance sustainable climate-related infrastructure projects.