At the 2023 UN Climate Change Conference (COP28), the Inter-American Development Bank (IDB) launched “One Caribbean,” a new regional flagship programme that promotes sustainable Caribbean development through high-impact activities.
Climate change, including rising sea levels, risks to agriculture and biodiversity, and more severe and frequent hurricanes and tropical storms, makes Caribbean countries particularly susceptible, according to the IDB.
The IDB’s “One Caribbean” programme addresses climate adaptation, disaster risk management and resilience, citizen and business security, sustainable development through private sector participation, and food security. Institutional strengthening and digital transformation are also cross-cutting.
“One Caribbean” supports regional projects and partnerships to foster integration and resilience.
The programme proposes a Project Preparation Facility (PPF) and a financial innovation-focused partnership and resource mobilisation strategy.
It also creates investment scanning for national digital and resilience investment plans.
Barbados Prime Minister Mia Mottley, IDB President Ilan Goldfajn, Jamaica’s Minister of Finance Nigel Clarke, Caricom Secretary General Carla Barnett, and CDB President Gene Leon participated in a panel discussion.
President Goldfajn said the IDB will support the Caribbean. One Caribbean is the IDB’s regional programme to help the Caribbean become more resilient and competitive to climate change.
At COP28, the IDB and CDB signed an addition to the 2020 Mutual Cooperation Agreement to strengthen their Caribbean partnership. This new action plan improves climate change-resilient physical and digital infrastructure, priority project preparation and execution, private sector productivity and development, exposure exchange agreements, and other financial products.
