March 7, 2012 No. 16/12-BD CDB BOARD APPROVES ACCEPTING UK FUNDS FOR REGIONAL RESILIENCE DEVELOPMENT PLAN The Board of Directors of the Caribbean Development Bank (CDB) have given approval for the Bank to accept a contribution of ¬£4,950,308 in International Climate Fund (ICF) monies from the United Kingdom Government to support a regional programme to build resilience to climate change and disasters. Specifically, the funds will be used to support of priority actions in the Caribbean Community (CARICOM) Regional Framework for Achieving Development Resilience to Climate Change implementation plan. This plan will strengthen the regional institution's ability to support national level adaptation as well as Caribbean participation in global negotiations. It will also help some of the most vulnerable communities to withstand the impacts of climate change and variability. The Caribbean has been assessed as a priority for immediate ICF adaptation attention, based on the Region's vulnerability, its capacity to implement, political will and country coverage. CDB will administer the funds, while he Caribbean Community Climate Change Centre will implement the programme.