The Caribbean Development Bank is leading the charge to mobilise resources, accelerate climate action, and drive the region's transformation toward resilience. Our approach is both comprehensive and creative, combining financial innovation, partnerships, and technical expertise to strengthen resilience across every sector.
Increasing Access to Climate Finance
CDB recently secured expanded accreditation from the Green Climate Fund (GCF) to increase our project development capacity fivefold, from USD 50 million to USD 250 million per project or programme. This expanded accreditation allows the Bank to design and implement large-scale, transformative resilience programmes across key sectors including agriculture, water, transport, and energy.
The 11th Cycle of CDB’s Special Development Fund (SDF 11), the Bank’s flagship development vehicle, will target up to 35% of its projected USD 460 million in support to climate financing between 2025 to 2028. The resources will help CDB’s Borrowing Member Countries update climate action plans, integrate adaptation and disaster risk management into national policies, and scale investment in agriculture, water management, and resilient infrastructure.
Catalysing Climate Investment at Scale
CDB is working with regional and international partners to establish the Regional Platform for Catalysing Climate Action in the Caribbean (RP-Caribbean), a first-of-its-kind mechanism to unlock climate financing and tackle systemic barriers across 14 CARICOM Member States.
RP-Caribbean will channel funding toward:
- Sustainable energy transition and grid connectivity
- Climate-resilient transport systems
- Innovative financial instruments (including debt-for-climate swaps and specialised funds)
- Youth capacity building for climate innovation
The platform represents a transformative shift from fragmented project financing to a coordinated regional investment pipeline capable of delivering impact at scale.
Accelerating Project Preparation
The CDB Climate Change Project Preparation Fund has been established to help countries design and prepare high-impact climate adaptation and mitigation projects. By improving readiness and technical capacity, the Fund will shorten the time between concept and implementation, enabling faster delivery of results on the ground.
Delivering Results Across the Region
When it comes to climate action, CDB's impact is evident across the Caribbean. In total, the Bank committed USD 103.6 million in climate finance in 2024. The momentum continues in 2025, with more than USD 70 million already approved for climate-related operations.
CDB introduced new disaster response instruments, including a Disaster Response Policy Operation and Contingent Emergency Response Components, giving countries rapid access to funds when disaster strikes. In this vein, the Bank disbursed USD 10 million in concessional loans and USD 600,000 in grants to Grenada and Saint Vincent and the Grenadines for immediate post-disaster recovery following Hurricane Beryl in 2024.
In addition, CDB helped seven countries cover premiums for the Caribbean Catastrophe Risk Insurance Facility (CCRIF), which provided over USD 72 million in payouts following Hurricane Beryl, including USD 5.6 million for social protection initiatives.
Strategic Partnerships for Greater Impact
CDB recognises that resilience cannot be built in isolation. The Bank works closely with global and regional partners to multiply the impact of every dollar invested. This includes:
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Adaptation Fund Projects which are supporting climate-resilient agriculture in Antigua and Barbuda, St. Kitts and Nevis, and St. Vincent and the Grenadines; and preparing a new regional initiative to scale up community-led resilience-building efforts.
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The European Union-funded Caribbean Action for Resilience Enhancement (CARE) Programme which focuses on improving disaster risk management and climate change adaptation; strengthening evidence-based and gender-sensitive decision-making and financial response to the effects of climate change and natural hazards, and enhancing community infrastructure and livelihood resilience to climate change and natural hazards.
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Green Climate Fund projects such as the USD 26.7 million “Scaling up the Deployment of Integrated Utility Services (IUS) to Support Energy Sector Transformation in the Caribbean” initiative. This innovative intervention, the Bank's first GCF-approved programme, will benefit over 40,000 people in Barbados, Belize, and Jamaica by expanding access to renewable energy, improving energy efficiency, and reducing carbon emissions
Through innovation, partnerships, and commitment, CDB is enhancing the effectiveness of climate action in small island economies. Our growing portfolio, deep regional knowledge, and proven implementation track record make CDB the ideal institution to channel climate finance for transformational impact across the region.