On Thursday in Nassau, The Bahamas, United States Vice President Kamala Harris highlighted more than $100 million, including $98 million in new funding from the United States Agency for International Development (USAID), to address climate, energy, food security, and humanitarian assistance in the Caribbean.
During her trip, the Vice President co-hosted the U.S.-Caribbean Leaders Meeting alongside Prime Minister Philip Davis of The Bahamas.
Davis is the current chair of the Caribbean Community (CARICOM).
The United States Vice President’s meeting with regional leaders in The Bahamas built on her session with them in June 2022 at the Summit of the Americas in Los Angeles.
According to a release, working with Congress and subject to the availability of funds, USAID intends to provide $20 million in funding to companies with financial and technical assistance and business development services through the Caribbean Climate Investment Program.
This programming will also support the establishment of the Blue-Green Investment Corporation in partnership with the Government of Barbados, the Green Climate Fund, and private sector investors.
With an estimated initial capitalization of $30 million by non-U.S. government partners, this public-private “green bank” is expected to unlock up to $210 million over three years.
The money will finance projects such as climate resilient housing, renewable energy, clean transportation, and water conservation in Barbados and later expanding to other Caribbean countries, including those in the Eastern and Southern Caribbean.
USAID is also providing nearly $15 million to support disaster risk reduction, emergency response capacity strengthening, and resilience building across the Caribbean.
Vice President Harris also announced support for the Caribbean Island states’ response to the impacts of climate change.
Working with Congress, USAID also intends to provide $10.5 million to Haiti to enhance resilience and productivity in the country’s agricultural and livestock sectors.
USAID is also providing an additional nearly $54 million for the people of Haiti in response to the country’s humanitarian crisis.