Technical Assistance and Investment Grant for the Caribbean Green and Inclusive Recovery Facility
Technical Assistance
The project aims to scale up the market for green finance in the Caribbean, helping the region’s economies transition to a more sustainable mode of operation aligned with the Global Gateway Investment Agenda.
The Facility supports small scale climate action and environmental sustainability investments, promoted primarily by MSMEs, and intermediated by public sector development banks or bodies and micro-finance institutions.
Those MSME-relevant green investments include (but are not limited to) energy efficiency improvements, integrated renewable energy and energy-efficient solutions such as solar control films, cool roofs, solar PV rooftop installations, LED lighting retrofits in commercial buildings, hotels, restaurant or other tourist establishments, wind and solar renewable power, eligible activities to turn Sargassum algae into an economic opportunity, and other projects contributing to GHG emission reduction and environmental sustainability.
The LACIF-financed technical assistance will support five Caribbean financial institutions to adopt new green and sustainable production practices, processes and equipment while creating demand for Green Finance investments through awareness raising among final beneficiaries.
The project contributes to:
- Investment in priority sectors, such as green investment by MSMEs, with an emphasis on equal access for women and socially excluded entrepreneurs;
- Increased awareness of the economic benefits of green investments;
- Improved capacity of MSMEs to present green investment proposals;
- Creation of employment, particularly for women, socially excluded individuals and communities affected by climate change, which results in greater financial inclusion and enhanced leadership and employment opportunities.
