SVG To Benefit From The Canada-CARICOM $20 Million Climate Adaptation Fund

Canada is committed to remaining a strong partner for Caribbean countries in these uncertain times, and recognizes that the needs in the region are vast.

Canada is providing assistance to help St. Vincent and the Grenadines fight climate change through the establishment of the Canada-CARICOM Climate Adaptation Fund. The Canada-CARICOM Climate Adaptation Fund is valued at CAD $20M and will be implemented by the Caribbean Development Bank.

Based on consultations with local governments and regional stakeholders it was decided to provide support for Caribbean Catastrophe Risk Insurance Facility (CCRIF) premiums and targeted technical assistance.

Through the Canada-CARICOM Climate Adaptation Fund, St. Vincent and the Grenadines will be eligible to receive CAD $1M towards CCRIF premiums, which can be applied either towards 2020/21 premiums or combined to cover a portion of both 2020/21 and 2021/22 premiums.

 The COVID-19 pandemic is a global threat that does not recognize borders and can only be overcome through coordinated action all around the world.

Canada continues to contribute to international efforts to address the ongoing pandemic by providing urgent and necessary funding, including over CAD$6M in funding to support the Caribbean’s efforts to fight the COVID-19 pandemic.

St. Vincent and the Grenadines’ government and health institutions have received over CAD$450K of that funding for emergency equipment and support.

Canada will continue to invest in the special and historic relationship that unites the peoples of Canada and St. Vincent and the Grenadines and remains committed to bolstering the climate, economic, and social resilience of Caribbean countries. These investments are a concrete demonstration of Canada’s commitment.

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