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Promoting action to build resilient and sustainable island communities

Caribbean Challenge Initiative Planning Meeting

DATE: 21 October 2011
LOCATION: St Georges, Grenada
Host: Grenada
Strategic Priority: Successful implementation of regional island challenges and other partner commitments
Representatives of the ministries of finance and environment involved in the Caribbean Challenge Initiative (CCI) met in Grenada to share advances made in each country in implementing the initiative. The meeting also provided opportunity to discuss the Caribbean Biodiversity Fund and national conservation trust funds; the idea of debt-for-climate adaptation swaps; and, plans to lay the groundwork for the next phase of the Caribbean Challenge.
Highlights include:
  • Support for a Caribbean Summit in early 2013 to galvanize political and private sector commitment to marine and coastal conservation
  • Caribbean Summit Steering Committee was established to support the planning for a summit process and a possible donors roundtable
  • Interest from countries in further exploring innovative sustainable financing mechanisms such as debt for adaptation swaps
  • Announcement that Caribbean Biodiversity Fund, US$40 million regional endowment to support the eight countries involved in the Caribbean Challenge, will be launched in early 2012

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