CCCCC & DFC sign Memorandum of Agreement

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Updated: October 17, 2017

This morning, the Caribbean Community Climate Change Centre and the Development Finance Corporation, DFC, signed a memorandum of agreement, launching the first Caribbean Regional Energy Efficiency Pilot Financing Facility for investments in energy efficiency and renewable energy. Project Manager, Christine Duncan, spoke about the initiative.

 

Christine Duncan – Project Manager

“This project is a very important project. It’s for Belize, it’s a million dollar facility aimed at reducing the cost of energy and making the country more efficient and making the private sector to be one of the most competitive private sector in the entire Caribbean. What the Development Finance Corporation did today was they created the first of a kind energy efficiency revolving facility, it’s a fund that will be lending money to the private sector and other entities so that they can make their buildings more efficient, reducing the cost of energy so that those savings can be used to make their business better, stronger and more competitive. Belize was chosen because the Caribbean Climate Change Center is the executing agency for this project and it was believed that Belize has one of the strongest national development banks which is the Development Finance Corporation to use as what we call the guinea pig and we were proven right in that they designed the first energy efficiency revolving fund in the entire Caribbean and they are to be congratulated for that.”