EU launches fund to assist Caribbean countries

by staff writer

BRIDGETOWN, Barbados, CMC – The European Union has launched a Euro 28 million (One Euro=US$1.29 cents) Regional Climate Resilience Building Facility that will provide financial resources for technical assistance, disaster insurance and resilient investment facilitation.

The facility is the largest grant-funded resilience building project in the Caribbean to date and will be implemented by the World Bank and the Caribbean Catastrophe Risk Insurance Facility (CCRIF).

EU Ambassador, Daniela Tramacere

“What we want from this programme is to address real needs. For this, governments and partner entities will have to define clear priorities, without which a targeted implementation is not possible,” said EU Ambassador, Daniela Tramacere, at the weeklong Understanding Risk (UR) Caribbean Conference that is organized by the World Bank in partnership with the Barbados government, the Caribbean Disaster Emergency Management Agency (CDEMA) and the EU.

The EU diplomat said the action should have as its ultimate objective, the genuine interest of Caribbean citizens translated in terms of resilience building at community and individual levels.

The technical assistance aims to strengthen the capacity of public institutions and civil society organisations which are capable of protecting citizens from disasters. The support to the Caribbean Catastrophe Risk Insurance Facility will help countries cope and recover better from the effects of extreme weather events.

“The support to resilient investment will stimulate the private sector to better adapt businesses and jobs to the priority needs of countries and citizens,” she added.

The Regional Resilience Building Facility is one of the many resilience programmes being financed by the EU in the Caribbean. Additional support for countries to build societal resilience by encouraging the transition to green economies and progress towards a sustainable economic path is being provided by various other EU programmes.

The EU said it is also partnering with regional governments and institutions on climate adaptation and ecosystem resilience and on hydrological meteorological data gathering.

Earlier this week, Canada also announced the  launch a CAD$20 million (One Canada dollar=US$0.74 cents) Canada-Caribbean Resilience Facility initiative to help regional countries better prepare for and respond to natural disasters.

“This initiative is being undertaken with Canada’s Caribbean support as a direct response to the lessons learned following the devastating hurricanes in the Caribbean in 2017 that have impacted our neighbouring countries so severely,” says Marie Legault, High Commissioner of Canada to Barbados and the OECS.

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by staff writer

BRIDGETOWN, Barbados, CMC – The European Union has launched a Euro 28 million (One Euro=US$1.29 cents) Regional Climate Resilience Building Facility that will provide financial resources for technical assistance, disaster insurance and resilient investment facilitation.

The facility is the largest grant-funded resilience building project in the Caribbean to date and will be implemented by the World Bank and the Caribbean Catastrophe Risk Insurance Facility (CCRIF).

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EU Ambassador, Daniela Tramacere

“What we want from this programme is to address real needs. For this, governments and partner entities will have to define clear priorities, without which a targeted implementation is not possible,” said EU Ambassador, Daniela Tramacere, at the weeklong Understanding Risk (UR) Caribbean Conference that is organized by the World Bank in partnership with the Barbados government, the Caribbean Disaster Emergency Management Agency (CDEMA) and the EU.

The EU diplomat said the action should have as its ultimate objective, the genuine interest of Caribbean citizens translated in terms of resilience building at community and individual levels.

The technical assistance aims to strengthen the capacity of public institutions and civil society organisations which are capable of protecting citizens from disasters. The support to the Caribbean Catastrophe Risk Insurance Facility will help countries cope and recover better from the effects of extreme weather events.

“The support to resilient investment will stimulate the private sector to better adapt businesses and jobs to the priority needs of countries and citizens,” she added.

The Regional Resilience Building Facility is one of the many resilience programmes being financed by the EU in the Caribbean. Additional support for countries to build societal resilience by encouraging the transition to green economies and progress towards a sustainable economic path is being provided by various other EU programmes.

The EU said it is also partnering with regional governments and institutions on climate adaptation and ecosystem resilience and on hydrological meteorological data gathering.

Earlier this week, Canada also announced the  launch a CAD$20 million (One Canada dollar=US$0.74 cents) Canada-Caribbean Resilience Facility initiative to help regional countries better prepare for and respond to natural disasters.

“This initiative is being undertaken with Canada’s Caribbean support as a direct response to the lessons learned following the devastating hurricanes in the Caribbean in 2017 that have impacted our neighbouring countries so severely,” says Marie Legault, High Commissioner of Canada to Barbados and the OECS.