EIB, CDB Commit USD 24 Million to Post-Disaster Reconstruction in Caribbean
The
The arrangement will support investments for infrastructure reconstruction projects in the
Eligible investments under the new loan will include infrastructure reconstruction, with a focus on "building back better" and integrating climate risk and vulnerability assessments into the projects. This will help reduce the Bank's Borrowing Member Countries' vulnerability to future natural disasters and worsening climate change impacts. As well as infrastructure, financing to communities for low-carbon and climate-resilience measures such as improved water resource management are also foreseen.
CDB President Wm.
CDB President Wm.
To date, CDB has committed all of the resources under the first Climate Action Line of Credit -
Since CDB's Climate Resilience Strategy was approved in 2012, 58% of projects financed have included climate change adaptation and/or mitigation elements in the climate-sensitive sectors of water, education, agriculture, and physical infrastructure such as sea defences, drainage, and roads. Using the Joint Multilateral Development Bank Methodology, climate financing represented 13% of total CDB project financing in 2015. In 2016, CDB approved
A pipeline of climate action projects amounting to over
The EIB has supported development and economic activity in the
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