*The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, has said that the costs for the Caribbean region of resilience-building in the face of climate challenges is estimated at a "staggering" US$100bn over the next two decades. Georgieva made her comments in opening remarks at a three-day High Level Caribbean Forum on energy transition which is taking place in Barbados. She highlights that the bulk of the investment would have to come from the private sector, both regional and international and underlined that “innovative financial instruments, such as green bonds, blended finance, and guarantees and insurance mechanisms, can de-risk green energy investments and unlock the private finance required to bridge the investment gap”.
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LatinNews Daily - 4 December 2024
In brief: IMF tallies climate resilience cost to Caribbean
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