Barbados says it is in the process of trying to gain access to some of the funds pledged for climate finance, during the Paris Climate Agreement in December 2015.
The Commonwealth-funded National Climate Finance adviser to Barbados, Winston Bennett said that he is assisting various ministries, development agencies and non-governmental organisations (NGOs) to develop, prepare and submit project proposals to climate finance donors.
“I have worked on six proposals; four of them have already been submitted to various climate finance donors, while the other two are currently being developed,” he said, adding that three of the project proposals were to Japan’s Grant Assistance for Grassroots Human Security Projects, for just under US$90,000, for three NGOs.
“In addition, I am trying to source project development assistance for two projects proposed by the Ministry of Environment and Drainage and the Ministry of Agriculture, Food, Fisheries and Water Resources Management, estimated at US$ 6.7 million and US$ 25 million, respectively,” he added.
Last year, the Commonwealth Secretariat assigned seven National Climate Finance advisers to work with three Caribbean countries, including Barbados, and four in Africa, to access climate finance.
Officials estimate that between US$40 to US$175 billion annually is currently flowing from developed to developing countries for climate change related initiatives and Bennett said it was necessary to access some of the billions of dollars available for loans and grant funds.
“The investment needs far exceed the pledges, but we must, however, utilise the available funds, so those pledging know that the developing countries mean business,” he said.