KINGSTON, Jamaica, CMC – The Development Bank of Jamaica (DBJ) has signed a memorandum of understanding (MoU) with the Belize-based Caribbean Community Climate Change Centre (CCCCC) to strengthen collaboration, particularly in addressing challenges linked to accessing and mobilizing climate finance for Caribbean Community (CARICOM- member countries.
DBJ Acting Managing Director David Wan and C Executive Director Dr. Colin Young signed the MoU.
Under the MoU, the C will be technical in implementing readiness projects, including developing concept notes. At the same time, the DBJ will serve as the delivery partner and accredited entity, particularly for projects that require concessional financing.
Wan said the partnership marks a significant milestone in confronting climate change, which is one of the most critical global challenges, reiterating that climate change knows no borders and adding that its impact is felt by communities worldwide.
He said it requires decisive action, innovative solutions, unwavering dedication, and money.
Wan said that through the partnership, the DBJ and C are joining forces to tackle the complex challenges of climate finance.
“We’re going to ensure that our region is equipped to adapt, mitigate, and thrive in the face of environmental adversity. This collaboration holds immense promise for the people of Jamaica and the wider Caribbean. It will enable us to unlock new opportunities, develop resilient infrastructure, and foster sustainable economic growth,” he added.
The CCCCC executive director welcomed the strategic partnership, noting that it will allow access to more excellent financing in addressing issues associated with climate change.
“The step we’re taking today, however, is also a first because it is the first time that a direct access entity and a national direct access entity, via an MoU, are committing to work together to unlock more excellent climate finance, not just for Jamaica, but for the wider Caribbean.
“So we are hoping that this will be the start of a blueprint of how we can have this kind of strategic partnership with other entities,” he added.
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