DBJ Signs MoU with Caribbean Community Climate Change Centre to Strengthen Collaboration
By: , February 22, 2024
Photo: JIS File
Acting Managing Director, Development Bank of Jamaica (DBJ), David Wan (seated left), and Executive Director, Caribbean Community Climate Change Centre (CCCCC), Dr. Colin Young (seated right), affix their signatures to the Memorandum of Understanding (MoU) formalising the strengthened partnership between the entities, during a ceremony at the ROK Hotel in downtown Kingston on Wednesday (February 21). Witnessing the signing (from left) are: General Manager for DBJ’s Project Management Office, Hugh Grant, and Chair, CCCCC Board of Governors, Una May Gordon.The Full Story
The Development Bank of Jamaica (DBJ) and the Caribbean Community Climate Change Centre (CCCCC) have signed a Memorandum of Understanding (MoU) to strengthen collaboration, particularly in addressing challenges linked to accessing and mobilising climate finance for CARICOM Member States.
The MoU was signed at the ROK Hotel in downtown Kingston on Wednesday (February 21) by DBJ Acting Managing Director, David Wan, and CCCCC Executive Director, Dr. Colin Young.
The CCCCC will play a technical role in the implementation of readiness projects.
This includes developing concept notes for projects.
The DBJ will serve as the delivery partner and accredited entity, particularly for projects that require concessional financing.
In his remarks, Mr. Wan said the partnership marks a significant milestone to confront climate change, which is one of the greatest global challenges.
He reiterated that climate change knows no borders, adding that its impact is felt by communities worldwide and, as such, it requires decisive action, innovative solutions, unwavering dedication and money.
Mr. Wan said through the partnership, the DBJ and CCCCC are joining forces to tackle the complex challenges associated with climate finance.
“We’re going to ensure that our region is equipped to adapt, mitigate and thrive in the face of environmental adversity. This collaboration 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,” he added.
For his part, Dr. Young welcomed the strategic partnership, noting that it will allow for access to greater financing in addressing issues associated with climate change.
“The step we’re taking today, however, is also a first because it is the first time that a direct access entity and a national direct access entity, via an MoU, are committing to work together to unlock greater climate finance, not just for Jamaica, but for the wider Caribbean. So we are hoping that this will be the start of what would be a blueprint of how we can have this kind of strategic partnership with other entities,” he said.