AT the recently concluded Seventh UK-Caribbean Forum in Grenada January 20-22, 2012, Minister Alan Duncan of the Department for International Development (DFID) announced that the Caribbean Community Climate Change Centre (CCCCC) will receive £4.9M to enhance the region’s coping mechanisms by developing a monitoring and evaluation framework for the Implementation Plan for Development Resilient to Climate Change, as well as improving risk analysis. The Caribbean region, which has one of the highest energy prices in the world, will also receive £1.46M through IDEAS, an initiative which will support businesses developing innovative renewable energy and energy efficiency projects.
Half a million pounds was pledged to the Caribbean Export Development Agency (CEDA) to support the Break Point initiative designed to identify emerging entrepreneurs and businesses. The funds will also help in organising an Investment Forum in the UK which will run alongside the London 2012 Olympic Games.
Duncan also announced the winners of the Compete Caribbean Enterprise Innovation Challenge Fund (EICF). Compete Caribbean is a US$40M private sector development programme that seeks to improve the competitiveness of Caribbean Countries. Compete Caribbean, is funded by the IDB, CIDA, with DFID contributing £10M).
Minister Duncan said, “In the current economic climate, it is vital that the private sector takes the lead in defining new areas of competitive advantage and help countries emerge from the downturn. I am extremely pleased that with UK support, Compete Caribbean’s Enterprise Innovation Challenge Fund is helping businesses do just this…..”