News

IDB to Invest in Adaptation to Climate Change in the Caribbean

IDB12 September 2011: The Multilateral Investment Fund (MIF) of the Inter-American Development Bank (IDB) is investing US$1.5 million to launch an initiative that will help small and medium-sized enterprises in Jamaica, Barbados, the Bahamas and Belize to adopt business practices to minimize the impact of climate change on productive activities.

The MIF (or FOMIN in Spanish) will provide technical assistance to eight coastal communities with 1,200 entrepreneurs and 50 micro, small, and medium-sized enterprises (MSME) for them to develop adaptation plans, respond to current negative effects of climate change, as well as prepare for expected climatic stimuli. Major MSME sectors include tourism, agriculture, fishing and crafts. [IDB Press Release]