US Providing Funds to Address Climate and Biodiversity Threats in the Caribbean
GEORGETOWN, Guyana – The United States is providing US$15.8 million in funding to address climate and biodiversity threats in the Caribbean.
CARICOM chairman and Guyana President Dr Irfaan Ali and US Ambassador to the United Nations, Linda Thomas-GreenfieldUS Ambassador to the United Nations, Linda Thomas-Greenfield, who is leading a US delegation to the ongoing 46th regular meeting of Caribbean Community (CARICOM) leaders here, said that the funds are part of the US$43 million in United States Agency for International Development (USAID) funding for climate adaptation and resilience in the Caribbean.
Washington said that the new funding builds on the strong partnership between the United States and CARICOM and that the new funding protecting marine biodiversity and building climate resilience in the Caribbean
USAID will provide US$5.8 million to reduce threats to coastal-marine biodiversity and build the resilience of coastal communities in the Caribbean to mitigate the negative impacts of climate change.
The programme will focus on preserving endangered ecosystems and species such as mangroves and coral reefs, as well as communities of sharks, rays, marine turtles, and more. The work will also enhance climate resilience and the well-being of local communities including women, youth, persons with disabilities, LGBTQ, and indigenous people.
Washington is also providing an initial US$10 million funding to strengthening water security in Haiti.
It said this support will help institutions plan for the financing and delivery of safe and reliable drinking water services before, during and after shocks and stresses such as climate crises, health pandemics and civil unrest. With this support from USAID, one million Haitians will have access to climate-resilient sources of safe water.
As part of USAID’s US$20 million Caribbean Climate Investment Programme (CCIP) announced by Vice President Kamala Harris in June 2023, while at CARICOM summit, USAID Assistant Administrator Marcela Escobari announced two new projects to increase climate investment in the Caribbean.
The work with the Private Financing Advisory Network (PFAN) includes three million US dollars for business advisory services to help prepare small and medium-sized enterprises for investment. The second project includes US$608,000 to Deetken Impact, a climate resilience and renewable energy investment firm that will focus on strengthening small and medium-sized enterprises with an emphasis on reaching women entrepreneurs.
USAID Administrator Power also recently announced US$6.1 million in funding for the new Caribbean Resilient Economies and Sectors (RESET) programme, which will reduce barriers to public and private finance to build climate and disaster resilience and support the adoption of climate-smart practices in critical sectors.
With US$1.75 million in funding, USAID also supported the development of the CARICOM Development Fund’s new Resilience Fund as well as advisory services to support capital fundraising to build an investment pipeline.
The Resilience Fund, which is anticipated to raise US$100 million, aims to expand investment in adaptation and climate change in the Eastern and Southern Caribbean.
Washington said that all of these initiatives are part of President Joe Biden’s Emergency Plan for Adaptation and Resilience (PREPARE).
Through PREPARE, the United States will continue to partner with the people of the Caribbean to facilitate climate adaptation and resilience in the region.
