Italian Institution provides 50 million Euro financing to help fight Climate Change in Caribbean

Antonella Baldino, (third right) poses with the respective members of the delegations representing Italy and the Caribbean at the signing of a €50 million financing agreement. Photo CDB

NEW YORK- Countering the effects of climate change and supporting the sustainable development of the Caribbean countries: these are the objectives of the 50 million financing granted by Cassa Depositi e Prestiti (CDP), the Italian National Promotional Institution to the Caribbean Development Bank (CDB), a financial institution that helps Caribbean nations to finance social and economic programmes in member countries.

Earmarked through the Revolving Fund for Development Cooperation, managed by CDP on behalf of the Italian Ministry of the Economy and Finance as part of its International Cooperation and Development Finance activities, this financing will expand the pool of loans that CDB already makes available to its Borrowing Member Countries (BMCs)  for official development assistance in countries such as Belize, Dominica, Grenada, Guyana, Jamaica, Saint Lucia, Saint Vincent and the Grenadines and Suriname.


The financing will help accelerate the implementation of programmes launched by the Caribbean countries aimed at achieving, by 2030, the sustainable development goals (SDGs) set out by the United Nations. The assistance will support projects related to the management of water resources, the production of energy from renewable sources, the creation of infrastructure for sustainable mobility and the protection of oceans, coasts and biodiversity.

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