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CAN

Canada donates to Belize to assist with climate change

The High Commission of Canada to Belize has announced that Belize is eligible to receive BZE $1.4 million toward its Caribbean Catastrophe Risk Insurance Facility (CCRIF). The fund is a part of the Canada-CARICOM Climate Adaptation Fund which is valued at CAD $20 million and will be implemented by the Caribbean Development Bank.

The High Commission of Canada to Belize has announced that Belize is eligible to receive BZE $1.4 million toward its Caribbean Catastrophe Risk Insurance Facility (CCRIF). The fund is a part of the Canada-CARICOM Climate Adaptation Fund which is valued at CAD $20 million and will be implemented by the Caribbean Development Bank. The fund aims to boost the economies in Belize and other CARICOM countries to address the impacts of the COVID-19 crisis. New innovative financial instruments is also being developed for climate adaptation and resilience.  According to the release from the high commission these financial instruments will quote “expand the tools to support climate adaptation and disaster mitigation, such as resilience bonds, with a view to catalyze private investment.” end of quote.