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A total of US$7.2 million will be made available to micro, small and medium-size enterprises (MSMEs) in the tourism and agricultural sectors, to finance climate change adaptation initiatives islandwide.
The money, which will be in the form of loans and grants, is being provided under the Adaptation Programme and Financing Mechanism Project, a component of the Pilot Programme for Climate Resilience (PPCR) in Jamaica.
The Project is a five-year initiative which aims to increase Jamaica’s resilience to climate change, through enhancing adaptive capacity across priority sectors.
This component of the PPCR is being implemented by the Ministry of Economic Growth and Job Creation, with funding from the Inter-American Development Bank (IDB).
The initiative was formalised during a signing ceremony at Jamaica House in St. Andrew, on July 28.
The Memorandum of Understanding was signed by Permanent Secretary in the Ministry of Economic Growth and Job Creation, Audrey Sewell; Managing Director, Development Bank of Jamaica, Milverton Reynolds; General Manager, JN Small Business Loans, Gillian Hyde; and Programme Manager, Environmental Foundation of Jamaica (EFJ), Allison Rangolan McFarlane.
Speaking at the ceremony, Minister without Portfolio in the Ministry of Economic Growth and Job Creation, Hon. Daryl Vaz, said the Government intends to increase its efforts to pursue long-term, transformative development and accelerate sustainable, climate-resilient economic growth.
“As a Government, we have pledged to protect the environment while creating jobs to drive the engine of economic growth, and we cannot allow climate change and other environmental impacts to impede us,” he said.
The Minister thanked all the partners involved in the initiative, noting that it represents an excellent opportunity to build on the work that has already begun in fostering sustainable development through partnership.
For her part, Ms. Hyde said the new loan facility will be open to qualified MSME beneficiaries who will be eligible for a loan amount between $200,000 and $5 million.
She pointed out that the loan will be available at a maximum interest rate of four per cent per annum.
For her part, Ms. Rangolan McFarlane said the money will be accessible to community-based organisations, non-governmental organisations, other civil-society groups and selected public-sector agencies, for clearly defined high-priority activities.
She added that these should be related to building the resilience of the natural environment and contributing to livelihood protection and poverty reduction.
General Manager, Country Department, Caribbean Group, Inter-American Development Bank, Therese Turner Jones, said the initiative is another in a series of partnerships to assist in the development of the country.
“We are looking to see how this pilot is going to work, so we can think about replicating this elsewhere in the region,” she said, adding that the initiative is the first of its kind in the Caribbean.
The project involves a Climate Change Adaptation Line of Credit and a special Climate Change Adaptation Fund.
The Line of Credit will provide loan financing to help MSMEs in the tourism and agricultural sectors to adapt to the impacts of climate change. The loans will be administered by the JN Small Business Loans Limited. The sum of US$2.5 million is being provided for this.
The Adaptation Fund will provide grants to adaptation and disaster risk reduction projects and finance the associated programme management costs.
Grants will be provided using the successful EFJ grant-making model. The EFJ will be the Fund Administrator for the US$4.7 million being provided.
Credit: Jamaica Information Service
The fourth meeting of African, Caribbean and Pacific (ACP) ministers in charge of fisheries and aquaculture was held in Brussels from 22 to 23 July 2015, preceded by a meeting of senior fisheries officials on 20 and 21 July.
It provided an opportunity for the ministers to take stock of progress made in implementing the strategic action plan for fisheries and aquaculture, which was adopted in Nadi, Fiji in 2012, and to agree on the way forward to ensure the sustainability of aquatic resources with a view to wealth creation and development in ACP countries.
More than 60 ACP member states are engaged in the export of fish and aquaculture products to regional and international markets, although these countries provide only 3% share in value of the global fisheries trade, worth US$150 billion per year.
At the conclusion of their meeting, the ministers adopted a roadmap for the implementation of the strategic action plan, calling for mobilisation of adequate financial resources and close collaboration with partner institutions which provide support to ACP fisheries sector, among them the EU, FAO, IFAD, UNIDO and the World Bank, to ensure effective implementation.
Given the negative impact of climate change on the fisheries sector, the ministers called specifically on the international community to agree to outline concrete, ambitious actions to reduce the effects of climate change during the 21st session of the Conference of the Parties (COP 21) to the United Nations Framework Convention on Climate Change (UNFCCC), which is scheduled to take place in Paris from 30 November to 11 December 2015.
In light of the persistence of illegal, unreported and unregulated (IUU) fishing and piracy, the ACP ministers also urged the international community to cooperate more closely with ACP countries and to provide financial and technical support for the efforts made at the national and regional level, to curb and eradicate these two extremely serious problems.
The ministers recommended developing aquaculture, the economic development of the fisheries sector as a means for creating decent jobs, especially for youth and women, as well as the preservation of aquatic biodiversity. They agreed to implement plans for the development of aquaculture and appropriate fisheries management measures in compliance with international agreements.
The ministers also stressed the need for coherence and appropriate policies among regional economic integration organisations and regional fisheries organisations to achieve this aim.
The ministers directed the ACP Secretariat to seek technical assistance and financial support from development partners, specifically the European Union, to strengthen ACP fisheries sectors and their national health and food security agencies to enable them to comply with increasingly stringent health requirements.
The ministers also agreed that the European Union should provide support to the ACP fisheries and aquaculture sector, through appropriate measures, to cope with the erosion of preferential tariffs for ACP fish exports to EU markets, and to support the ACP Position on Fisheries subsidies negotiations in the WTO negotiations.
Credit: Caribbean News Now
5Cs Wins Energy Globe Award for Renewable Energy and Potable Water Project in Bequia, St Vincent and the Grenadines
The Caribbean Community Climate Change Centre (CCCCC) received the 2015 Energy Globe Award for its renewable energy and potable water work in Saint Vincent and the Grenadines. Energy Globe, an internationally recognized trademark for sustainability, is one of the most important environmental prizes today with 177 participating countries. The award, which is made from a cross-section of over 1, 500 entries annually, is given in recognition of outstanding performance in terms of energy efficiency, renewable energy and resource conservation.
The CCCCC won the 2015 Energy Globe National Award for the project “Special Programme for Adaptation to Climate Change”. The project was executed on the island of Bequia in Saint Vincent and the Grenadines and focuses on the production and provision of clean drinking water for more than 1,000 people. This is being done through the acquisition and installation of a reverse osmosis desalination plant. The project is deemed highly sustainable as the water input is inexhaustible sea water and the energy used is solar, a renewable, carbon-free source.
The landmark project was also presented by Energy Globe as part of a global online campaign (www.energyglobe.info) on World Environment Day. The campaign ran under the patronage of UNESCO and in cooperation with UNEP and received significant recognition.
“To be honoured with this award is a great recognition of our work for a better environment and motivates us to continue our endeavours in the future,” – Henrik Personn, Renewable Energy Expert, CCCCC
Since completing this key project, we have applied the lessons learned in Belize and on the Grenadian islands of Petite Martinique and Carriacou. Review the poster below to learn more about the progress we are making in Grenada:
Do you have an excellent project? Submit it for the Energy Globe Award 2016. Review the details on www.energyglobe.info.