The Inter-American Development Bank (IDB) during the 2023 United Nations Climate Change Conference (COP28) presented “One Caribbean”, a new regional flagship program that aims to promote the sustainable development of the Caribbean with a sharpened focus on high-impact initiatives.
The IDB in a statement says Caribbean countries are among the most vulnerable to the adverse impacts of climate change, such as rising sea levels, threats to agriculture and biodiversity, and more intense and frequent hurricanes and tropical storms.
The IDB’s “One Caribbean” program includes four pillars: climate adaptation, disaster risk management and resilience; citizen and business security; sustainable development through private sector engagement; and food security. Also, institutional strengthening and digital transformation are cross-cutting areas of work.
The goal of “One Caribbean” is to promote integration and resilience across the region through the support of projects and partnerships that can have a regional impact.
The program proposes establishing a Project Preparation Facility (PPF) along with a strategy for partnerships and resource mobilisation with financial innovation at its core.
Additionally, it seeks to generate investment scans that will lead to national digital and resilient investment plans.