BONN– A delegation from the Caribbean Development Bank (CDB) has arrived at the United Nations Climate Change Conference (COP23) in Bonn, Germany. While at the event, which runs until November 17, the Bank will join other regional stakeholders in reiterating the urgent need for climate action and resilient recovery in the Caribbean. Against the backdrop of this year’s devastating hurricane season, CDB will also underscore its commitment to mobilising highly concessionary resources for regional countries to tackle the impacts of climate change.

While in Bonn, the Bank will sign a USD24 million (mn) agreement with the European Investment Bank for post-disaster reconstruction. It is an addition to the USD120 mn Climate Action Framework Loan II signed in May this year. The President will speak at a session titled, Confronting the 1.5 Degree Challenge and Accelerating NDC Implementation in the Caribbean at which technical experts will present scientific evidence on the implications for the Region if global warming reaches or exceeds 1.5 degrees Celsius…[+]