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The Barbados-based Development Bank (CDB) Tuesday said it is financing a US$27.1 million initiative to scale up hydrometeorological services and multi-hazard early warning systems in Belize and Trinidad and Tobago.
The CDB said that the initiative is being funded through its partnership with the Green Climate Fund (GCF) and is intended to strengthen the ability of the two Caribbean Community (CARICOM) countries to anticipate, prepare for and respond to climate-related hazards and extreme weather events.
The project is being financed primarily through a US$24.1 million grant, approved by the GCF with the CDB also providing US$1.2 million in grant financing while US1.88 million in counterpart funding will come from the governments of Belize and Trinidad and Tobago.
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