February 26, 2024 -- In Georgetown, Guyana at the 46th Regular Meeting of the Conference of Government of the Caribbean Community (CARICOM), the United States highlighted more than $43 million in USAID funding, including $15.8 million in previously unannounced funding to address climate and biodiversity threats in the Caribbean. The announcement was made by U.S. Ambassador to the United Nations Linda Thomas-Greenfield, who led the United States delegation to the 46th Regular Meeting of the Conference of Government of CARICOM, building on the strong partnership between the United States and CARICOM.
These investments 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, of which USAID is a key partner. 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.
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 the negative impacts of climate change. The program 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.
Strengthening Water Security in Haiti
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.
Unlocking Climate Finance to Bolster Climate Resilience in the Caribbean
As part of USAID’s $20 million Caribbean Climate Investment Program (CCIP) announced by Vice President Kamala Harris in June 2023, today USAID Assistant Administrator Marcela Escobari announced two new projects to increase climate investment in the Caribbean. The work with the Private Financing Advisory Network (PFAN) includes $3 million for business advisory services to help prepare small and medium-sized enterprises for investment. The second project includes $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.
Assistant Administrator Escobari also highlighted $6.1 million in funding recently announced by USAID Administrator Power for the new Caribbean Resilient Economies and Sectors (RESET) program, 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 $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.
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