CAF – the Development Bank of Latin America and the Caribbean and the Commonwealth Secretariat recently signed an agreement to advance sustainable development and climate resilience initiatives across Caribbean Small Island Developing States (SIDS).
A press release from CAF said that the alliance will leverage both institutions’ expertise to accelerate impactful projects that promote the economic and environmental wellbeing of Caribbean nations.
CAF’s Executive President, Sergio Díaz-Granados, and the Commonwealth Secretary-General (SG), Patricia Scotland KC, outlined several areas for collaboration, all aimed at addressing the unique challenges facing SIDS—environmental vulnerabilities, access to equitable climate financing, economic shocks, climate adaptation needs, biodiversity degradation, and more. An important aspect of the partnership, the release noted, focuses on gathering data and knowledge on the development issues facing Caribbean SIDS, with particular emphasis on the historical, political, and socio-economic circumstances of the English-speaking Carib-bean. Both parties agreed to develop and support projects that focus on climate adaptation and mitigation, capacity building, and championing the needs of small and vulnerable states on the global stage, especially by advocating for increased access to international climate finance.