New Contribution Agreement signed during the EDD

June 28, 2022

During the European Development Days (EDDs), the European Investment Bank (EIB) and the European Commission have announced a Contribution Agreement of EUR 17.5m from the Caribbean Investment Facility (CIF) to support the Caribbean Sustainable Water Management and Clean Oceans Programme. The event was attended by the Prime Minister of Belize and CARICOM Chairman, John Briceño, and the Ambassador of the Dominican Republic to the European Union (EU), Iván Ogando. This funding aims at improving climate resilience and contributes to healthy oceans through new investments in security of water supply, wastewater treatment, solid waste and storm-water management across the region. Some project examples are: (i) rehabilitation and expansion of water supply systems; (ii) new and upgraded collection and wastewater treatment; (iii) rehabilitation and expansion of drainage and storm-water systems; (iv) expanded and improved waste collection and recycling and (v) coastal and reef protection projects, among others.

John Briceño indicated that “across the Caribbean, commitments by the EU have assisted our governments with Green Growth and Sustainable socio-economic development, along with our efforts to enhance good governance and improve regional integration.”

The support will include a Technical Assistance component targeting better environmental and social standards, gender equality, and climate resilience. The other element of the CIF support is an Investment Grant that will support the affordability of investments, in order to increase the climate resilience, social and environmental impact of the projects. The EU financing will be complemented with EUR 150m from the EIB, and the total cost of the programme is EUR 400m.

The water project contributes to the achievement of a number of Sustainable Development Goals and to building the Caribbean’s resilience to pandemics such as Covid-19.

Read more in press releases related to the signature of the Contribution Agreement as well as the financing of water and sanitation projects in the Caribbean:

EIB and European Commission join forces to provide EUR 150m of Team Europe finance for water and sanitation projects in the Caribbean

EIB and European Commission announce new Caribbean Investment Facility resources for water, sanitation and clean ocean projects in the Caribbean at European Development Days