Bank can now tap Fund to address climate change concerns
Bridgetown, Barbados, March 17, 2016:
The Caribbean Development Bank (CDB) can now better access funds to address climate change and mitigate the impact on Borrowing Member Countries (BMCs) after the Board of the Adaptation Fund announced on March 1 that accreditation has been granted to the regional development funding agency.
“CDB’s accreditation opens gateways to well-needed grant financing which will enable our Borrowing Member Countries to proactively address life threatening vulnerabilities,” said Dr. Warren Smith, president of the CDB.
A major pillar of CDB’s Climate Resilience Strategy is that of helping BMCs access concessionary resources to provide financing to support urgent actions required to build climate resilience. According to Dr. Smith, “accreditation to the AF is an extremely positive achievement, since it gives the Bank access to a source of grant resources to help to support urgent climate resilient…
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