The Canada – IDB collaboration will give a boost to the climate change battle

TIMES INT'L

 

Dear Editor,

I was perusing your newspaper and found a news item which stated that the government of Canada has selected the Inter-American Development Bank (IDB) as a key partner in its Fast Start commitment to support climate change mitigation and adaptation efforts in the region. I thought that this was an excellent initiative and deserves some more publicity.

No doubt this project will boost efforts that are already being made by governments and other stakeholders in the region. From all indications, Canada has already committed 250 million Canadian dollars to create the Canadian Climate Fund for the Private Sector in the Americas. The fund will finance private sector climate mitigation and adaptation projects in Latin America and the Caribbean that need concessional financing to become viable. It should be stated that through this Fund, the IDB will be helping to finance climate-related initiatives, helping to stimulate sustainable economic growth and deliver better results which will result in many benefits to the citizens of the entire region.

I trust that our own local private sector will play a key role in this project as part of our own efforts to deal with climate change mitigation and adaptation efforts. Indeed the private sector is a key player in helping countries address climate change; this should not be the sole responsibility of governments alone.

Yours truly,

Rekha Persaud

 

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