Officials from the Caribbean Development Bank (CDB) and the Agence Française de Dévelopement (AFD) have signed an agreement to provide 33 million US dollars towards financing sustainable infrastructure projects in the Caribbean region.
At least 50 percent of the funds will be used to fund climate change adaptation and mitigation projects.
The funds are being provided by AFD under a Credit Facility Agreement with CDB. AFD is the primary agency through which the Government of France provides funding for sustainable development projects.
The Facility will be used by CDB to augment financing for infrastructure projects in several areas: renewable energy, water and sanitation, waste management, adaptation of infrastructure to the effects of climate change, protection of coasts and rivers. Countries that are eligible to benefit from this facility are: Antigua and Barbuda, Belize, Dominica, Grenada, Guyana, Jamaica, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, and Suriname. The Facility is also complemented by a 3 million euro technical assistance grant, which will finance feasibility studies for projects eligible for financing under the credit facility.
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