US announces US$15.8m more for climate, biodiversity threats in Caribbean
United States Ambassador to the United Nations, Linda Thomas-Greenfield yesterday announced US$15.8 million in new USAID funding to address climate and biodiversity threats in the Caribbean.
The monies will form part of US$43 million in USAID funding for climate adaptation and resilience in the Caribbean.
Thomas-Greenfield headed the US delegation to the ongoing CARICOM Heads of Government summit here.
“We committed funding to support climate resilience in the region as well as for Haiti and we will continue to work on those issues. I came with, on my delegation, a colleague from USAID who is responsible for development as humanitarian assistance…the funds were announced and we hope to get them out immediately,” Thomas-Greenfield yesterday said at a press conference held at the US Embassy, Georgetown.
The Embassy said that 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.
Thomas-Greenfield said that she didn’t announce a timeline for the release of the monies but the region can be assured that the funds would be released swiftly. “Timelines always get all of us in trouble, but I can tell you our plan is to provide these funds immediately,” she said.
A statement yesterday from the US Embassy said that the 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,” the statement explained.
Where Haiti is concerned, US$10M has been set aside for strengthening water security in that country.
“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 climateresilient sources of safe water,” the statement explained.
Additional USAID initiatives for sums 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 statement highlighted.
PFAN
Further, it added, “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 Samantha Power also recently announced US$6.1 million in funding for the new Caribbean Resilient Economies and Sectors (RESET) program, the Embassy said, which it believes 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 US$100 million, aims to expand investment in adaptation and climate change in the Eastern and Southern Caribbean.
Meanwhile, it was explained that US President Joe Biden’s Emergency Plan for Adaptation and Resilience (PREPARE) will form the umbrella for the initiatives mentioned.
“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 longterm goals of the Paris Agreement and the 2030 Sustainable Development Goals,” the statement said.