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The Barbados-based Caribbean Development Bank (CDB) Monday said it has taken a significant step towards advancing geothermal energy development in the region.
The CDB said that it has signed £10 million (One GBP =US$1.29 cents) Memorandum of Understanding (MoU) with the United Kingdom’s Foreign, Commonwealth & Development Office (FCDO), and the Grenada government to support that country’s geothermal test drilling.
The region’s premier financial institution said that the signing of this agreement represents a significant milestone in the Caribbean’s transition to a cleaner, more sustainable energy future, positioning Grenada and the wider region as leaders in renewable energy innovation.
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