Greening the Caribbean Financial Systems (GCFS)

ongoing

The objectives of the project are:To support to three of the main central banks of the Caribbean Region to integrate the climate-related risks in their regulation and supervision activities, with the participation of their licensed financial institutions.To support to the Caribbean Development Bank (CDB) to promote the financing of adaptation and mitigation investments, with a gender-lens. The project will aim at supporting CDB in bringing concessional and affordable solutions to its Borrowing Member Countries (BMCs), while mainstreaming gender to ensure an empowerment of women workers.To reach these objectives, the project includes a USD 50 million loan to the Caribbean Development Bank to finance 100% climate-friendly investments (of which a minimum of 50% adaptation), with a gender focus for all projects financed, and a EUR 5.85 million grant from the European Union’s Latin America and Caribbean Investment Facility (LACIF).