Above: Jamaica (CJ Photo)
By the Caribbean Journal staff
Jamaica is receiving new funding from the Inter-American Development Bank to improve the country’s resilience to climate change.
The funding includes a $10 million “highly” concessionary loan and a $7,895,000 grant approved by the Inter-American Development Bank.
The project is the first adaptation programme implemented by the IDB under its “Pilot Programme for Climate Resilience of the Climate Investment Funds.”
According to the bank, the project will “help Jamaica mainstream climate change into its development planning, providing information on innovative approaches including climate financing.”
“Thanks to this program, Jamaica will continue to be a leader in the field of climate change adaptation, setting an example for other Caribbean countries,” the bank said in a statement.
The $10 million loan is for a 40-year term.