U.S. unveils new funding to support climate adaptation, resilience in Caribbean

Feb 28, 2024 News

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Kaieteur News – United States Ambassador to the United Nations, Linda Thomas-Greenfield has announced a US$15.8 million in new USAID funding to address climate and biodiversity threats in the Caribbean.

The funding is part of the US$43 million in USAID funding for climate adaptation and resilience in the Caribbean, which was highlighted at CARICOM Heads of Government summit being held here. In a press release, the US Embassy said that the announcement builds on the strong partnership between the United States and CARICOM. This new funding announcement includes: Protecting Marine Biodiversity and Building Climate Resilience in the Caribbean.

USAID will provide $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.

Additionally, to enhance the capacity and performance of water sector institutions and markets in Haiti, USAID will provide an initial $10 million. 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.

Additional USAID initiatives: include, unlocking Climate Finance to Bolster Climate Resilience in the Caribbean

As part of USAID’s US$20 million Caribbean Climate Investment Program (CCIP) announced by Vice President Kamala Harris in June 2023, while at CARICOM, USAID Assistant Administrator Escobari announced two new projects to increase climate investment in the Caribbean. The work with the Private Financing Advisory Network (PFAN) includes US$3 million 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 $100 million, aims to expand investment in adaptation and climate change in the Eastern and Southern Caribbean.

President Biden’s Emergency Plan for Adaptation and Resilience (PREPARE)

All of these initiatives are part of the President’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. USAID’s climate work in the Caribbean supports Biden-Harris Administration priorities and works to advance the goals of the U.S.-Caribbean Partnership to Address the Climate Crisis 2030, or PACC 2030.

PACC 2030 is the U.S. government’s flagship partnership with the Caribbean to advance climate adaptation and resilience and clean energy cooperation through 2030 as we work toward meeting the long-term goals of the Paris Agreement and the 2030 Sustainable Development Goals. Ambassador Thomas-Greenfield led the U.S. delegation to the CARICOM meeting in Guyana. Other members of the delegation include Assistant Secretary of State for Western Hemisphere Affairs Brian A. Nichols, USAID Assistant Administrator for Latin America and the Caribbean Marcela Escobari, Senior Coordinator for Atlantic Cooperation Ambassador Jessica Lapenn, and Principal Deputy Assistant Secretary for Energy Diplomacy Laura Lochman.

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• adaptation, Caribbean, climate, Greenfield, Resilience

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