Thu | Oct 2, 2025

Strategic partnership forged to combat climate crisis in Jamaica

Published:Thursday | February 22, 2024 | 4:59 PM
From left: Hugh Grant, General Manager – Project Management Office, Development Bank of Jamaica (DBJ); David Wan, Acting Managing Director, DBJ; Dr Colin Young, Executive Director, Caribbean Community Climate Change Center (CCCCC); and UnaMay Gordon, Chairman, CCCCC, participate in the recent signing of a Memorandum of Understanding between both organisations to address the climate crisis in Jamaica. – Contributed photo

Climate change remains a critical factor in global development, highlighting the urgent need for enhanced access to funding for projects and technological advancements to mitigate these challenges.

In response to this imperative, the Development Bank of Jamaica (DBJ) and the Caribbean Community Climate Change Centre (CCCCC), both Direct Access Entities to the Green Climate Fund (GCF), have signed a Memorandum of Understanding (MoU) to fortify collaboration, particularly in overcoming challenges related to accessing and mobilising climate finance.

The signing of this MoU strategically aligns with the CCCCC's mandate to coordinate the region's response and efforts to manage and adapt to the impacts of climate change. The MoU will provide a framework for cooperation and collaboration between the CCCCC and DBJ to mobilise climate change financing to pursue development resilient to climate change in Jamaica and other CARICOM member states.

Speaking on the partnership at the MoU signing, David Wan, Acting Managing Director of DBJ, expressed enthusiasm about the collective efforts to address climate challenges.

“Climate change knows no borders, and its impact is felt by communities around the globe. It requires decisive action, innovative solutions, unwavering dedication – and most of all, money. This collaboration (with CCCCC) holds immense promise for the people of Jamaica and the wider Caribbean. It will enable us to unlock new opportunities, develop resilient infrastructure, and foster sustainable economic growth," Wan said.

Dr Colin Young, Executive Director of the CCCCC, lauded the signing of the MoU between two Direct Access Entities to the Green Climate Fund that will allow DBJ and CCCCC to pool their respective capacities, expertise and resources to increase the flow, scale and speed of climate finance to Jamaica and the region.

The signing of the MoU, he said, “demonstrates that strategic partnerships and collaboration are happening in our region and by harnessing our regional and national experience, we can unlock greater amount of climate finance to Jamaica and the CARICOM region to build greater resilience of our people to the effect of climate change. The CCCCC is excited about this partnership with DBJ that will yield tangible benefits for CCCCC, DBJ and the Caribbean people.”

The signing of the MoU between DBJ and CCCCC signifies a landmark collaboration aimed at driving climate action and fostering resilience in Jamaica and beyond, as it is the first time that two Direct Access Entities, accredited to the Green Climate Fund, have entered an MoU to pool their respective expertise and capabilities to increase the scale and speed of climate finance for the region.

This collaboration will pave the way for transformative projects that will mitigate the impacts of climate change and advance sustainable development goals.

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