Caribbean Nations Secure $69M for Clean Energy Transformation
CARICOM launches $69 million renewable energy program for Barbados, Belize, and Jamaica, funded by Green Climate Fund and partners, targeting 40,000 beneficiaries across the region.
Solar panels installation in Caribbean region symbolizing clean energy transformation
The Caribbean Community (CARICOM) Secretariat announced today a major renewable energy initiative worth $69 million to transform the energy sector in Barbados, Belize, and Jamaica, marking a significant step toward regional environmental sustainability efforts.
Strategic Investment in Clean Energy
The Caribbean Development Bank (CDB) will implement the project, backed by $27 million from the Green Climate Fund (GCF) and supplemented by $42 million in co-financing. This initiative, approved on July 3, 2025, aims to accelerate the adoption of clean energy solutions while reducing fossil fuel dependency in the region.
Project Impact and Benefits
The six-year program is expected to benefit over 40,000 people across the three participating nations, with potential expansion to other Caribbean countries in a second phase. Similar to how transparent governance drives economic progress, this initiative emphasizes accountability in energy transformation.
"This program will strengthen regional energy security with accessible and climate-resilient solutions," stated CDB President Daniel Best.
Economic and Environmental Benefits
The initiative promises significant economic advantages, including:
- Reduced greenhouse gas emissions
- Lower energy costs for households and businesses
- Enhanced energy independence
- Improved regional economic stability
This transformation mirrors the importance of inclusive economic development while promoting sustainable energy solutions across the Caribbean region.
Adrian Singh
Business reporter focused on economic freedom, foreign investment, and institutional transparency.