Climate Change. On August 9th, the Inter-American Development Bank (IDB) announced its partnership with the Caribbean Climate Intelligent Accelerator Platform, a project that supports measures and investments to mitigate climate change and promote economic growth. The IDB will contribute one billion dollars to the project, what represents the commitment made in 2017 to make climate-smart investments in the Caribbean region. These funds will be added to an existing portfolio of more than $200 million to mitigate carbon emissions, sustainable infrastructure and energy efficiency in the region. The platform will provide technical assistance to the countries of the region for the implementation of various projects over the coming months.
The Accelerator counts with the participation of leaders from all Caribbean countries and international corporations, financial institutions and foundations to respond to the damage caused by major hurricanes last year. Forty public and private sector organizations have joined the Accelerator’s coalition of partners, including leading technology companies, the World Bank and the Caribbean Development Bank. The IDB’s contribution will support innovative solutions focused on low carbon projects, sustainable infrastructure and energy efficiency.
Furthermore, the Food and Agriculture Organization of the United Nations (FAO) and the International Center for Tropical Agriculture (CIAT) signed an agreement August 11th to promote agricultural development and the fight against climate change in Latin America and the Caribbean. The institutions will promote South-South and triangular cooperation with the countries of the region, with emphasis on priority territories for cooperation in food and nutritional security, sustainable agriculture and climate change.
The two organizations seek to improve collaboration to implement the Climate Adapted Sustainable Agriculture Strategy of the Central American Integration System (SICA) in the Central American Dry Corridor, which runs through Guatemala, Honduras, El Salvador and Nicaragua. In Colombia, they will promote the implementation of the peace agreements with regard to comprehensive rural reform. They will also support the measurement of the impact of climate-change adaptation and mitigation actions on projects with rural farmers.
Over the coming months, these institutions will provide technical assistance for the implementation of various projects in the region. They will also provide direct investment or through intermediaries such as the Caribbean Development Bank.