Building Resilience to Climate Change and Disasters in the Caribbean

Building Resilience
to Climate Change
and Disasters in the
Caribbean
Ms. Valerie Isaac
Division Chief, Environmental
Sustainability

Hurricane Maria,
Dominica
(September 2017)
Total damage of $931 million and
loss of $382 million.
(World Bank)
Haiti’s 7.2
Earthquake
(August 2021)
$1.62 billion in damage and
loss.
(UNDP, 2021)
Hurricane Dorian
in the Bahamas
(September 2019)
$3.4 billion in damage and loss.
(IDB, 2019)
Context and Approach
Strategies for Building Resilience to Climate Change and Disasters in the Caribbean | ANNUAL NEWS CONFERENCE 2025
La Soufriere Volcanic
Eruption in St. Vincent
and the Grenadines
(April 2021)
$150 million in infrastructure
damage and $150 million in
agriculture and housing loss.
(Bloomberg, 2021)
Vulnerability to natural hazard events interrupts development and progress towards the SDGs

Context
• Hurricane Beryl Impact: Damaged infrastructure and
flooded areas in Grenada and St. Vincent & the
Grenadines estimated at 16.5% and 22.0% of GDP,
respectively
• Agricultural Disruption: Destroyed crops and
farmland in Barbados and Jamaica.
• Economic Losses: Cruise cancellations in the
Cayman Islands and economic damage estimates in
GDP percentages
• Other Climate Shocks: Wildfires in Belize and Tropical
Storm Rafael's impact on Jamaica.
• Community Resilience: Local communities rebuilding
and adapting to climate-related events.

Approaches to Building Resilience
Guided by:
• Strategic Plan
• Disaster Risk Management Strategy
• Climate Resilience Strategy
• Access to Concessional Climate Financing
• Climate-proofing Infrastructure
• Strengthening Partnerships to Enhance Regional
Resilience
• Supporting Sustainable Energy Solutions

Disaster Response: In 2024 CDB
Approved 21
technical
assistance
projects
CCRIF premium
payment ‘top up’
for social
protection for 7
countries
Social protection
payout by CCRIF
to 3 countries
impacted by
Hurricane Beryl
$15Mn $1Mn $5.6Mn

Hurricane Beryl
Immediate Response Loans to Grenada
and St. Vincent and the Grenadines
Emergency Grants to Grenada and
St. Vincent and the Grenadines
Disaster Response: Approved
Hurricane Beryl
$10Mn
$600K

Disaster Response
Supporting Recovery and Resilience:
• Provides transitional safety net support
for the most vulnerable
• Protect and restore critical infrastructure
• Facilities the resumption of social and
economic activities post-disaster
• Supports the restoration of vital services

We have already approved: $70Mn
in climate finance for 2025.
Climate Finance Expansion
Approved in 2024: $101.5Mn
in climate finance, representing 33.5%
of CDB’s own resources.

GCF Project Pipeline established: $750Mn
Project areas: Resilient Transport,
Agriculture & Food Security, Water, Energy
and Infrastructure.
Green Climate Fund CDB upgrade to
$250Mn per programme/project or
5X previous accreditation limit.
Green Climate Fund Capacity Expansion

CDB Climate Change Project Preparation
Fund approved by Board of Directors to:
• Assist countries with identifying and
designing more impactful climate action
projects.
• Generate larger volumes of climate finance.
• Enable faster delivery of project results.
Climate Change Project Preparation Fund

Adaptation Fund Grant:
• Developing climate resilience project for Antigua &
Barbuda, St. Kitts & Nevis, and St. Vincent & the
Grenadines.
• Regional project under the Fund’s new Global
Locally-led Aggregator Programme: Belize,
Grenada, Jamaica, Antigua and Barbuda and St.
Vincent and the Grenadines.
Adaptation Fund

Collaborations with:
• Caribbean Community Climate Change
Centre
• Caribbean Disaster Emergency
Management Agency
• Caribbean Institute for Meteorology and
Hydrology,
• University of the West Indies
• OECS Commission
Strengthening Regional Partnerships

• Resilience fully integrated into
CDB’s lending and operations.
• Increased climate finance flows.
• Utilisation of new tools like Climate
Change Project Preparation Fund.
• Improved disaster response and
recovery capacity in Borrowing
Member Countries.
Looking Ahead - Success Factors

Strategies for Building resilience to climate change and disasters in the Caribbean | ANNUAL NEWS CONFERENCE 2025

Building Resilience to Climate Change and Disasters in the Caribbean

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