– US$5M to be injected into Regional Adaptation Fund
Recognising that the Caribbean Community (CARICOM) is extremely vulnerable to the adverse effects of climate change, Chairman of CARICOM, President Dr Mohamed Irfaan Ali has announced a US$2 million financing towards the Regional Adaption Fund.
Speaking at an event to mark the opening of the 46th Regular Meeting of the Conference of Heads of Government of CARICOM Sunday afternoon, President Ali reiterated the country’s commitment to the Bridgetown Initiative.
The Bridgetown Initiative, piloted by Barbados’ Prime Minister Mia Amort Motley calls for the overhaul of the current global financial system led by the IMF and the World Bank to enable mobilisation of more private financing for the climate transition and improved resilience in vulnerable countries.
According to the head of state, Guyana strongly supports the initiative and will be taking responsibility on its own to invest in the region’s climate resilience.
READ MORE: President Ali announces financial support for Caribbean climate adaptation – DPI Guyana